Tax Alert 4/2015  
 
 
Collections and Payments exceeding TL 7.000 must be made through Financial Intermediaries Institutions

The Tax Procedural Code General Communique (Serial No. 459) (published in the Official Gazette dated December 24, 2015 and No. 29572) (“Communique”) includes the explanations on the principles in relation to the collections and payments to be made through financial intermediaries as of January 01, 2016.

 
 

Obligation to provide information on E-Commerce and Certain Business Transactions

Under the Tax Procedural Code General Communique (Serial no. 464) (published in the Official Gazette dated December 24, 2015 and No. 29572) (“Communique”); certain taxpayers are obliged to continuously provide information in relation to their e-commerce and certain business transactions; also taxpayers selling goods and services via internet are obliged to implement e-archive application. In this regard;

 
 

Amendments on the Application of Investment Incentives

The Council of Ministers Decree (Decree No. 2015/8216) (published in the Official Gazette dated November 19, 2015 and No.29537) has amended the Council of Ministers Decree on State Investment Incentives (Decree No. 2012/3305) (“Investment Incentives Decree”).

 
 

Principles in relation to the Taxation of Tour Guides

The below explanations with respect to the taxation of tour guides are provided under the Income Tax Code General Communique (Serial No. 289) (published in the Official Gazette dated November 19 2015 and No. 29537):

Read More

 
 

Double Taxation Treaty between Turkey and Senegal was Signed in Antalya .

Under the announcement published on the website of the Ministry of Finance Revenue Administration (www.gib.gov.tr); it has been announced that Double Taxation Treaty between Turkey and Senegal was signed in Antalya on November 14, 2015. The abovementioned treaty will enter into force upon its ratification by the parliaments of both countries.

 

 
 

Amendments on the Procedures and Principles that must be complied with during Tax Inspections

“Regulation regarding the Procedures and Principles to be complied with in Tax Inspections” (the “Tax Inspection Regulation”) amended with the “Regulation amending the Tax Inspection Regulation” (published in the Official Gazette dated November 06, 2015 and No. 29524 (the “New Regulation”). The New Regulation amends the Tax Inspection Regulation as follows:

Read More

 
 

New Tax Rates, Amounts and Thresholds Applicable for 2016

The revaluation rate has been determined as 5,58% for the year 2015 according to the Tax Procedural Code General Communique No. 457 (published in the Official Gazette dated November 10, 2015, No. 29528). Taking into consideration the revaluation rate of 5,58%, Ministry of Finance has recalculated certain tax rates and related amounts and thresholds that will be applied for the year 2016. You may find below the new rates, amounts and thresholds to be applicable for 2016.

Read More

 
 
 

 

 
 
buy her
 
     
  Tax Team  
 
 
 
 
 

The award winning Pekin & Pekin Tax practice team leaves regular compliance support to accounting firms and instead focuses on more complex cases, giving clients direct practical and innovative advice.

To discuss how these developments affect your business interests please contact either:

Fethi Pekin
Managing Partner
fpekin@pekin-pekin.com
or
Firat Yalçin
Partner, Tax
fyalcin@pekin-pekin.com

 

 
     
  learn more about our tax team  
     
 
 
 
     
This legal newsletter has been prepared for informational purposes only; it has not been prepared for advertising purposes or with the intention of creating an attorney-client relationship. It does not seek to provide information on all legal developments in Turkey with the quarter specified. None of the information contained in this legal newsletter shall constitute legal advice or anything akin thereto. To unsubscribe email the Editor: newsletter@pekin.pekin.com
 
  Tax Team | ABOUT | PRESS | CONTACT | MARKETING  
 
PEKIN & PEKIN 10 Lamartine Caddesi Taksim 34437 Istanbul Turkey | Tel: +90 212 313 3500 | www.pekin-pekin.com