The provisional article 13 of the Turkish Commercial Code numbered 6102 constitutes the legal basis of the profit distribution restriction to be applied in capital companies (joint stock and limited liability companies) until September 30, 2020.
With the 518th General Communique of the Tax Procedural Law it has been decided that certain tax payers, who have been directly affected from the coronavirus (COVID-19) outbreak and the measures that have been taken in this regard, will benefit from the force majeure provisions of the Tax Procedural Law No. 21
24 Mart 2020 tarih ve 31078 Mükerrer sayılı Resmi Gazete’de yayımlanan 518 No.lu Vergi Usul Kanunu Genel Tebliği’yle, Koronavirüs (COVID-19) salgınından ve bu kapsamda alınan tedbirlerden doğrudan etkilenen bazı mükelleflerin 213 sayılı Vergi Usul Kanununun mücbir sebep hükümlerinden faydalanması kabul edilmiştir.
According to the draft law submitted by the ruling party on 24/10/2019 to the Turkish Parliament; turnover generated from certain digital services shall be subject to 7.5% Digital Services Tax (“DST”) in Turkey.
Technology-Focused Industry Move Program is one of the very significant subject matters of 11th Development Plan covering the years 2019-2023.
As per Presidential Decree numbered 476, online advertisement payments made to foreign resident legal and real persons are subject to withholding tax as from 1 January 2019.
As per article 4-g of the Council of Ministers Decree numbered 32 regarding The Protection Of The Value Of The Turkish Currency, Turkish resident real and legal persons can no longer execute certain contracts denominated in or indexed to foreign currency.
Turkish government wishes to encourage Turkish citizens and Turkish resident companies having bank accounts outside of Turkey to transfer their assets to Turkey since such assets are a very important source of foreign exchange income for the Turkish economy.
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