| Announcement Date | 09.11.2022 |
| Announcement No. | 2022/12 |
The Law No. 7420 Amending the Income Tax Law and Some Laws and Decrees has been Published in the Official Gazette dated 09 November 2022 and numbered 32008,
- ARTICLE 1- The maximum power to which the exemption is applied has been increased to 50 kW in case the flat owners produce electricity within the scope of renewable energy and sell the surplus in the residences owned or rented. Effectiveness09/11/2022
- ARTICLE 2 The portion of the meal provided to the employees by the employers, which does not exceed 51.-TL, is exempted from income tax.: “The parenthetical provision of the clause (8) of the first paragraph of Article 23 of the Law No. 193 states that “in cases where no meals are provided by the employers at the workplace or in the outbuildings, the portion of the one-day meal price for the days worked, which does not exceed 51 Turkish liras, is within the scope of the exemption. If the payment exceeds this amount, the excess and other benefits provided for this purpose are taxed as wages.” Changed in shape. Effective 01.12.2022
- With the provisional article 1, Benefits to be provided by employers for the payment of electricity, natural gas and heating expenses of employees up to 1,000 Turkish Liras are exempt from income tax and insurance premium earnings.. To take advantage of this exemption, these payments must be employees' current wages/prime in addition to basic earnings required, Provisional Article provision From the date of entry into force of this article, the amount not exceeding 1,000 Turkish lira per month, in addition to the current wages/premium earnings of the employees, in return for electricity, natural gas and other heating expenses, until 30/6/2023 (including this date). payments are not included in the earnings subject to premium according to the Social Insurance and General Health Insurance Law No. 5510, dated 31/5/2006. and no income tax is calculated over this amount in accordance with the Income Tax Law No. 193 dated 31/12/1960. Force It can be applied between 09.11.2022 and 30.06.2023.
- ARTICLE 2 The wages of workers who were taken abroad by employers to work in repair, assembly works and technical services were exempted from income tax. By adding the following clause (19) to come after the clause (18) of the first paragraph of the 23rd article of the Law numbered 193;19. Wage payments made to service professionals working in construction, repair, installation works and technical services abroad, from the employer's foreign earnings, in return for their actual work abroad” These fees are also included in the exemption. Effective 01.12.2022
- ARTICLE 22 In case of "Capital Reductions" of capital companies, a regulation has been made regarding in which cases the "Equity" items included in the reduced capital will be considered as profit distribution.. The following article has been added to the Corporate Tax Law dated 3/6/2006 and numbered 5520, following article 32/A. Force 09.11.2022
“Taxation in capital reduction
ARTICLE 32/B- (1) In case the equity items added to the capital by the institutions are subject to capital reduction in any way after five full years from the date they are added to the capital, the ratio of the cash or in-kind capital and the other elements added to the capital to the total capital shall be subject to the reduction. capital elements in the amount are determined. In determining the said ratio;
a) Equity items that will be subject to corporate tax and profit distribution or tax deduction depending on the amount transferred to the head office, when they are transferred to another account other than addition to the capital, withdrawn from the enterprise or transferred from the capital account to other accounts,
b) Equity items that will be subject to tax withholding based only on profit distribution or the amount transferred to the head office,
c) Capital in kind and in cash, which will not be taxed if it is transferred to another account or withdrawn from the enterprise.
their shares in the total capital are taken into account.
(2) In case the institutions make a capital reduction before the completion of the five full-year period starting from the date they add the equity items to the capital, it is deemed that the reduction is made from the capital elements listed in subparagraphs (a), (b) and (c) of the first paragraph, respectively.
(3) In capital reduction, it is considered that among the equity capital items added to the capital, those whose date of addition to the capital has not exceeded five full years have been withdrawn from the enterprise.
(4) Among the capital elements determined by means of capital reduction within the scope of the first, second and third paragraphs of this article; Those within the scope of item (a) of the first paragraph are subject to corporate tax and tax withholding, those within the scope of item (b) are only subject to tax withholding. In capital elements subject to corporate tax and tax deduction, the deduction base is the amount remaining after deducting the calculated corporate tax, and this amount is deducted within the scope of the provisions of Articles 15 and 30 of the Law and Article 94 of the Law No. 193.
(5) In case of capital reduction by deduction of previous years' losses, the capital elements subject to such reduction are determined in accordance with the provisions of the first, second and third paragraphs, but no tax deduction is made on these amounts within the scope of the fourth paragraph.
(6) The Ministry of Treasury and Finance is authorized to determine the procedures and principles regarding the implementation of this article.”
- ARTICLE 23- The period of the exemption granted to the Dry Protected Deposits in the Corporate Tax Law has been extended. The President is authorized to apply the exemption for foreign currency-protected deposits, which is regulated in the temporary article 14 of the Corporate Tax Law no. was made. Effective as of 26/5/2022, on the date of publication.
Details are available in the Official Gazette dated 08 November 2022 and numbered 32008.
https://www.resmigazete.gov.tr/eskiler/2022/11/20221109-10.htm
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