When we look at the tax regulations for December, we can say that the Omnibus Law (Law No. 7491) published on December 28 left its mark on December with both the regulations it introduced and the changes it did not include.
First of all, the law dd not meet some expectations that inflation adjustment would be postponed or be tax-free. We can now say that it is certain that inflation adjustment will be applied. The expected Communique regarding the implementation was published as of December 30.
With the Law No 7491, the lump-sum expense practice in exports, which has been in dispute for years between the finance administration and taxpayers about how to implement it and where the judiciary is mostly on the taxpayer's side in this dispute, has been abolished. Assuming that the document system is established in most countries, we can say that this regulation is consistent within itself.
The Law also allowed companies that export goods based on an intermediary export contract to be subject to 20 percent corporate tax instead of 25 percent, provided that the intermediary company is a Foreign Trade Capital Company or a Sectoral Foreign Trade Company. There was a significant demand from taxpayers regarding this right. It is a far change I think.
Apart from this, the Law, which also imposes advantageous taxation on dividends and certain earnings obtained from abroad, also includes important regulations and time extensions other than these. You can follow the relevant changes n our Tax Bulletins to be published.
I wish everyone a happy new year.
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