With the presidential Decree No. 3490, published on Official Gazette No. 31385, as of 01.01.2021, the enterprises whose foreign resources exceed equity, 10% of the total of interest, commission, maturity difference, dividend, exchange rate difference, similar expenses and cost elements related to the foreign resources used in the enterprise, excluding those added to the cost of the investment, will not be considered as an expense in determining the earnings by income and corporate tax taxpayers.

Within the scope of the decision, credit institutions, financial institutions, financial leasing, and factoring companies are excluded.

Decision will be effective as of 2021/01 Temporary Taxation Period.

The application principles for income and corporate taxpayers in the taxation of earnings as of 2021/01 are as follows;

In accordance with the letter of the Ministry of Treasury and Finance, General Directorate of Public Financial Management and Transformation dated 6/01/2021 and numbered 27998389-010.06.02-11638, the expense limits exempt from income tax for the period of 1 January 2021 - 30 June 2021 has been announced.

The Tax-Exempt Amounts of Domestic Travel Expenses

The tax-exempt amounts of domestic travel allowances for the period of 01 January 2021 and 30 June 2021 are as below.

As known, per the Article 32 of the Income Tax Law, the marital status and family status of the employees are taken as basis in determining the Minimum Subsistence Allowance amount.

Changes in marital status and family status must be notified to the employers within 1 month at the latest.

These changes are notified to the employer with the Minimum Subsistence Allowance Form.

With regards to this, any incorrect calculation can be prevented if the employers remind the employees about the updates on marital or family statuses via MSA forms.

All kinds of announcements and advertisements done within municipal borders and adjacent areas are subject to Announcement and Advertisement Tax. Natural or legal persons, who make the advertisement on their or other’s behalf, are considered as taxpayers of the relevant tax. Advertisement companies, who conduct announcement and advertisement works on behalf of others, are liable to pay the taxes of announcements and advertisements on taxpayers’ behalf. Announcement and Advertisement Tax payments can be made through registered municipalities’ e-municipality system and related banks.