Must Know Data

2010 Fiscal Period

Turkish Tax System
Taxes Levied on Income	Taxes Levied on Property	Taxes Levied on Expenditures	Other Local Taxes
1.Income Tax	1.Motor Vehicle Tax	1.Value Added Tax	1.Advertisement Tax
2.Corporate Tax	2.Property Tax	2.Private Consumption Tax	2.Entertainment Tax
	3.Inheritance Tax	3.Customs Duty	3.Communication Tax
		4.Banking and Insurance Transaction Tax	4.Electricity and Gas Consumption Tax
		5.Private Communication Tax	5.Enviroment Consumption Tax
		6.Compulsory Levy Tax	6.Local Administration Fee
		7.Stamp Tax

It is compulsory to issue/obtain an invoice instead of an receipt(slip) when the cost of goods sold or services provided exceeds 680TL.

If requested by the buyer and even if the cost of goods sold or services provided is less than 680 TL, seller is again liable to issue an invoice.

Tax Procedural Law (No.213) , Article 232.

For amounts over 8.000TL, tax payers are required to use banks for transfers instead of cash.

Tax Procedural Law (No.213) , Communiqué 332

Business Places (Firms) employed 10 or more employee are required to use banks for wage,bonuses and all kind remuneration payments.

Official Gazette, 18.11.2008 dated, 27058 numbered

Full amount of office premise rents, 500TL or over for private housing rents must be paid via bank instead of paying cash to the land lord.

In effect since 01.11.2008.

General Communiqué with serial no 268 of Tax Procedural Law

A ban on leaving the country is applied for public receivables more than 100.000 TL

(Amount applied beginning from 06.06.2008)

Interest for delayed payment (and late fee) is %1,95 (%23,40 yearly) beginning from 19.11.2009

Cancellation of debt: Tax Directorate can quit to follow up receivables less than 10TL on occasions when collection is impossible or costs of collection exceeds the amount of receivable.

Law 5838 - Law about amending some certain laws

Cancellation of assessment: Tax Directorate can abandon to accrue the sum of tax and penalty amounting less than 18 TL.

Tax Procedural Law (No.213) , Article 115

Tax Office is authorized to postpone debt collection for 3 years provided that a guarantee is shown.

Tax Payer will pay the debt with deferment interest added.

Rate of deferment interest beginning from 19.11.2009 is %1,95 (%23,40 yearly).

Tax Procedural Law (No.213) , Article 115

Disputes totaling 7.790TL or less are subject to court hearing with only one Judge at the Tax Court.

Disputes exceeding 7.790TL will subject to court hearing instead of written exercise of jurisdiction.