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Legislation - CottGroup Holistic Business Services


Rate and Scope Updated in VAT Partial Stoppage Application

Amendments have been made regarding the rate of partial stoppage applications and its scope with the Communiqué (Row No: 35) on Amending the Communiqué of Value Added Tax General Application, which was published in the Official Gazette No. 31397 on 16 February 2021.

Related amendments are as follows;

Written by Selma Kıy, Posted in Taxation Law


Short-Term Employment Period Is Extended to 31 March 2021

Short-term employment allowance has been extended to 31 March 2021 with the Presidential Decree No: 3556 on 19 Feb 2021.

You can reach the related decision via the link (in Turkish).

Should you have any queries or need further details, please contact us.

Written by Erdoğdu Onur Erol, Posted in Social Security Law and Legislation


Social Security Premium Declaration for Annual Leave Payment

Annual Leave Pay at Termination of Employment Contract

Per the Article 59 of the Labor Law, "In case the employment contract is terminated for any reason, the rights of the employee and annual leave payments should be paid to the employee or to the right holders". Also; According to the article 80 of the Law No. 5510; "Wages shall subject to premium by attributing to the month they are deserved."

However; on the SSI Employer Regulation Communique; In the section "7.2 - Issues Regarding Premiums of Wages", the below statements are included:

"If there is any remaining annual leave balance on the termination date and the related annual payments are paid after termination, the related annual leave payments should be subject to SSI premium by attributing to the month that the job contract is terminated."

Written by Erdoğdu Onur Erol, Posted in Social Security Law and Legislation, Labor Law


Financing Expense Restriction Started

With the presidential Decree No. 3490, published on Official Gazette No. 31385, as of 01.01.2021, the enterprises whose foreign resources exceed equity, 10% of the total of interest, commission, maturity difference, dividend, exchange rate difference, similar expenses and cost elements related to the foreign resources used in the enterprise, excluding those added to the cost of the investment, will not be considered as an expense in determining the earnings by income and corporate tax taxpayers.

Within the scope of the decision, credit institutions, financial institutions, financial leasing, and factoring companies are excluded.

Decision will be effective as of 2021/01 Temporary Taxation Period.

The application principles for income and corporate taxpayers in the taxation of earnings as of 2021/01 are as follows;

Written by Selma Kıy, Posted in Taxation Law

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