Compliance with the Uniform Chart of Accounts in Turkey and Penalties
Purpose of the Uniform Chart of Accounts The Uniform Chart of Accounts (UCA) in Turkey has been in force since 1994 to standardize accounting records nationwide. With this regulation, the Turkish Revenue Administration (TRA) aims to: Compliance with the UCA is one of the fundamental requirements of keeping books in accordance with the Tax Procedure […]
VAT Refund and ATIK Liability in the Context of International Transportation
International transportation, in its most general form, refers to the transportation of goods from one country to another. In our country, where transportation activities are particularly intensive, the tax exemptions applied to these activities are of great importance. The Value Added Tax Law contains special provisions for transportation operations, and these provisions are of critical […]
Delivery of Incentive Investment Goods and the VAT Refund Process
The VAT Law No. 3065 contains different applications subject to VAT refund. One of these is the “Delivery of Incentive Investment Goods” under Article 13/d of the Law. Pursuant to this article, invoices issued by the seller are exempt from VAT and are eligible for refund. Points to Consider When Issuing Sales Invoices When issuing […]
Reduced VAT Refund Procedures in Turkey
Reduced VAT refund procedures are regulated under Article 29/2 of the VAT Law General Communiqué No. 3065. This regulation allows companies operating in certain sectors to reclaim the portion of VAT arising from reduced-rate transactions (1% – 10%) that cannot be recovered through deduction. Sectors Covered by Reduced VAT Refund Companies operating in the following […]
VAT Refund Advantage for Manufacturing Exporters
Exceptions List of VAT to be deducted for the last 24 periods prior to the period in which the export is declared (It is sufficient to submit the list of VAT to be deducted covering the same periods once. If VAT payable is declared in any of the previous periods, it is sufficient to submit […]
Temporary Article 17 Scope Domestic Processing Permit Certificate (DİİB) VAT Refund
In order to make Turkish export products competitive in world markets and to diversify our export products; without being subject to trade policy measures, without being subject to trade policy measures, an economically effective customs regime is applied that allows the import of raw materials, auxiliary materials, and packaging materials necessary for the production of […]
Service Export VAT Refund Procedures
According to Article 11/1-a of Law No. 3065, services provided to customers abroad are exempt from VAT. Scope of the Exemption For a service to be exempt from VAT under Article 11/1-a of Law No. 3065, according to Article 12/2 of the same Law, the following conditions must be met: The fact that the service […]
Export-Registered VAT (Deferral–Cancellation) Refund – Application, Conditions, Documents, and Deadlines
Export-Registered VAT Refund MethodsPursuant to Article (11/1-c) of Law No. 3065, VAT on goods delivered to manufacturers for export is not paid by exporters. Manufacturers can benefit from this application. Sellers who qualify as “manufacturers” can benefit from the deferral-cancellation application. Requirements for becoming a manufacturer Even if the seller is a manufacturer, products not […]
VAT Refund on Exports: Conditions, Liability Account, Application, and Documents
The Basis of VAT Refund on Exports Export, also known as foreign sales, can be defined simply as the sale (delivery) of goods and/or services outside the borders of Turkey. Export is deemed to have been completed on the date of departure of the goods outside the customs line. In accordance with Article 11 of […]
Operating Method of Expense Accounts: Turkish Accounting System and Uniform Chart of Accounts
Importance of Expense Accounts Within the Turkish Uniform Chart of Accounts (TDHP), the correct operation of expense accounts is essential for ensuring the reliability of financial statements. Particularly with the 7/A option, production and operating expenses play a critical role in calculating costs accurately and determining the company’s profit or loss for the period. General […]
