Taxation Law

06April2015

Anticipated Tax Benefits in Capital Increases

A new regulation¹ aimed at encouraging incorporations, limited liability and comandite companies² to invest in paid capital rather than foreign capital will enter into force on 01/07/2015 and allow:

A tax deduction³ for the paid portion of the increased capital to be calculated by the legally applicable interest rate.⁴ In the event where no profit is declared for the year in question, the tax deduction can be carried over to the subsequent tax year.

For companies who are considering a capital increase, it is recommended that they calculate the advantages to be gained with the new regulation.

Click here for the recent regulation⁵ (available only in Turkish) and contact your account representative for detailed information on the subject.

References:

www.tbmm.gov.tr

Law no : 6637 Date : 27/03/2015 Law amending certain laws and enactments.

The said regulation is currently submitted for approval to the Presidency, and upon approval, will go into effect on 01/07/2015.
Companies in finance, banking and insurance and state-controlled entities are out of scope of this regulation.
50% of the interest calculated at the related account period.
The latest interest rate with respect to commercial bank loans in TL currency as declared by the Cenral Bank of Türkiye.
See art. 8.

Author CottGroup Hukuk ve Mevzuat Ekibi, Category Taxation Law, Turkish Commercial Code

02April2015

Restructuring Period of General Health Insurance Premium Debts has been extended

(1) The application period stated in the temporary 53rd article of 31/5/2006 dated Social Secuirty and General Health Insurance Law number 5510, has been extended for 6 months as from the initial expiry date.

(2) The application period and the payment period for the 1st installment, which is stated in the temporary 60th article of the same law, has been extended for 6 months from the specified deadline in item (d) of the 1st clause of the respective article.

Category Taxation Law

23March2015

About General Health Insurance Coverage and Income Test in Türkiye

Refer to the Q&A below for key information on benefiting from the general heath coverage in Türkiye and the scope of the income test.

Author CottGroup Hukuk ve Mevzuat Ekibi, Category Social Security Law and Legislation, Taxation Law

23March2015

Restructed Payment Options for General Health Insurance Coverage

Application deadline for debt restructuring of General Health Insurance premiums in accordance with Law No.6552 is April 30th, 2015.

General Health Insurance (GHI) premiums are accrued from the maximum rate to those who have not applied to an income test. However, provided that they fulfill their income test obligation until March 31st, 2015, they will be allowed to pay their premium debts based on the amount from their income tests applicable from the date of GHI registration.

Those, who are ranked within the lower income group according to the income tests, will benefit from complete cancellation of accrued premium debts and will also receive health service by means of the allowance to be reserved from the Treasury.

Author Selma Kıy, Category Social Security Law and Legislation, Taxation Law