Tax Alert 3/2015  
Turkish Tax Authority has changed its Opinion on RUSF Application in case of the Extension of FX loans

The Directorate of Revenue Administration changed its previous opinion provided with the letter dated February 13, 2014 and No.17483 on the Resource Utilization Support Fund (“RUSF”) application of foreign currency and gold loans extended by foreign residents to Turkish residents other than banks and financial institutions in paralel to our opinion provided under our Tax Alert 2/2014.


Privileged Investments which are over 3 billion Turkish Lira are considered as Strategic Investment under the Investment Incentive System

In accordance with the amendment made on Article 8 of the Decree regarding the Investment Incentives (Decree No.2012/3305) by the Decree of the Council of Ministers (Decree No.2015/8050) (published in the Official Gazette dated August 27, 2015 and No.29458); privileged investments of which minimum fixed investment amount is over 3 billion Turkish Liras are accepted as strategic investments. However, the interest support amount to be provided for these investments is limited to seven hundred thousand Turkish Liras.


Electronic notification application will begin as of 1 January 2016.

Under the Tax Procedural Code General Communique (Serial No. 456) (published in the Official Gazette dated August 27, 2015 and No.29458) the procedures and principles in relation to the electronic notification of the documents which are issued by tax authorities and which shall be notified to addressees in accordance with the Tax Procedural Code have been determined as follows:


Special Consumption Tax List no. (III) and (IV) Application General Communiques have become effective as of 1 September

Special Consumption Tax (“SCT”) List No. (III) Application General Communique including the explanations in relation to the List No. (III) attached to the SCT Code under which tax rates and lump-sum tax amounts as to the alcoholic and non-alcoholic beverages and tobacco products are determined, was published in the Official Gazette dated August 08, 2015 and No.29439.

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Electronic Field Inspection has become effective as of 1 September.

Through the Tax Procedural Code General Communique (Serial No. 453) (published in the Official Gazette dated June 20, 2015 and No.29392) the procedures and principles in relation to the electronic field inspection application have been determined as follows:

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The Information Exchange Agreement has been signed between Turkey and USA within the scope of Foreign Accounts Tax Compliance Act

It has been announced on the official website of the Directorate of Revenue Administration on July 30, 2015 that the “Agreement on Increasing International Tax Compliance through Extended Information Exchange” was signed in Ankara between Turkey and USA within the scope of Foreign Accounts Tax Compliance Act (“FATCA”).

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The refund principles for the taxes imposed on incomes derived through the activities of independent personal services obtained from Turkey within the scope of Turkey-Germany DTT have been announced.

Under the Double Taxation Treaties (“DTT”) General Communiqué (Serial No. 3) (published in the Official Gazette dated July 15, 2015 and No.29417); it is stated that in cases where the incomes earned by individuals and legal entities resident in Germany through their professional services in Turkey are taxed through withholding and the following explanations should be considered in relation to the refund principle of such taxes in accordance with the DTT signed between Turkey and Germany:

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The Deduction Rate of 50% applicable on Capital Increases in Cash has been increased for Companies Publicly held and Investments with Incentive Certificates.

As explained in our Newsletter (No.Q2/2015); through the amendment made on Article 10 of the Corporate Income Tax Law by the Law No. 6637, companies were enabled to deduct 50% of the interest calculated over capital increases made in cash from the corporate income tax base.

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The Principles of the VAT Exemption in relation to the Modernization and Construction of Transit Petroleum Pipeline Projects have been determined.

As known, under our Newsletter (No.Q2/2015) it was explained that according to temporary Article 34 of the Value Added Tax (“VAT”) Code, deliveries and services provided as of 1 January 2014 to those who perform construction and modernization works for transit petroleum pipe line projects exempted from VAT within the framework of the international agreement provisions will be evaluated as exempt from VAT.

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