24.08.2017

In March 2017, 128 923 houses were sold in Turkey
In Turkey, house sales increased by 10% in March 2017 compared to the same month of the previous year and hence, became 128 923. For the house sales of March 2017, İstanbul had the highest share of house sales with 17.4% and 22 443 sold house. The followers of İstanbul were Ankara with 15 004 house sales and 11.6% and İzmir 8 059 house sales and 6.3%. The least house sold provinces were Hakkari with 8 house sales, Ardahan with 12 house sales, Bayburt with 39 house sales.

Number of house sales, 2016-2017

In March 2017, 50 424 ownership of the houses changed by mortgage sales

The mortaged house sales throughout Turkey became 50 424 by increasing 29.9% compared to the same month of the previous year. House sales with mortgage had a 39.1% share of all house sales in Turkey. Most of house sales with mortgage was in İstanbul with 9 661 sales. İstanbul was the first province in Turkey ranking that has most house sales with mortgage share with 19.2%. Mortgaged house sales had the highest share in Artvin with 59.1% of all house sales.

Ownership of 78 499 houses changed by other sales
Other house sales in Turkey became 78 499 by increasing 0.1% compared to the same month of the previous year. In the other sales, İstanbul was the first province with 12 782 sales and 16.3% share. Other house sales had 57% share of all house sales in İstanbul. Ankara was the second province with 8 525 sales. Ankara was followed by İzmir with 4 667 sales. The least other house sales was realized in Hakkari and Ardahan with 5 house sales.

House sales by type of sales, March 2017

House sales by state of sales, March 2017

In house sales, 56 376 of houses were sold for the first time
First house sales in Turkey became 56 376 by increasing 7.6% compared to the same month of the previous year. First house sales had 43.7% share of all house sales in Turkey. The most first house sales was in İstanbul with 9 972 sales. İstanbul was the first province in Turkey ranking that had most first house sales share with 17.7%. The followers of İstanbul  were Ankara with  5 355  house  sales and  İzmir with   3 117 house sales.

Ownership of 72 547 houses changed by second hand sales
Second hand house sales in Turkey became 72 547 by increasing 11.9% compared to the same month of the previous year. In the second hand sales, İstanbul was the first province again with 12 471 sales and 17.2% share. Share of the second hand sales was 55.6% in İstanbul in total house sales. Ankara was the second province with 9 649 sales and Ankara was followed by İzmir with 4 942 sales.

In March 2017, 1 578 houses were sold to foreigners
In house sales to foreigners became 1 578 by decreasing 1.1% compared to the same month of the previous year. İstanbul was the first province with 579 sales in March 2017. The followers of İstanbul were Antalya with 313 house sales, Bursa with 124 house sales, Yalova with 88 house sales, Sakarya with 80 house sales and Ankara with 73 house sales.

Most house sales were made to Iraqi citizens according to country nationalities
Iraqi citizens bought 323 houses from Turkey in March. The followers of Iraq were Saudi Arabia with 148 house sales, Kuwait with 139 house sales, Russia with 115 house sales and Afghanistan with 112 house sales.

23.08.2017

1- WHILE CALCULATING THE TAX ASSESSMENT IN CORPORATE TAX, WHICH LOSSES WILL BE SUBJECT TO DISCOUNT?
While calculating tax assessment in Corporate Tax, the losses indicated below can be subject to discount on condition that the amounts related to every year are stated separately in Corporate Tax Return;
1.1- The conditions listed below are required while deducting the losses (which have taken place in previous declarations on condition that they have not been transferred more than 5(five) years), the losses whose amounts do not exceed the amount of equity capital as of the date of transfer date of acquired institutions, the losses that are in proportion to acquired asset and whose amounts do not exceed the acquired amount of equity capital of the dividend company.
1.1.1- Corporate Tax Returns related to the last 5(five) years should be submitted on time.
1.1.2- The activities of acquired company should continue at least 5(five) years beginning from the financial year when the separation or the transfer takes place.

***In case of the aggression of these conditions, there will be loss of tax for taxes that are not accrued on time because of loss offsetting.

1.2- In Turkey, except for the losses related to incomes being exempted from corporate tax, the losses originated from overseas activities on condition that they are not transferred more than 5(five) years;
1.2.1- Including the losses of tax assessments submitted according to tax laws of territorial country; the losses that are included every year in a report kept by the institution given the audit mandate;
1.2.2- On condition that that report and a translated copy of it should be submitted to the related Tax Office in Turkey, that losses can be subject to discount.

2- WHICH DOCUMENTS SHOULD BE KEPT AND CONFIRMED IN THE AUDIT REPORT ATTACHMENT?
2.1- Tax returns,
2.2- Balance sheet and income statement attached to the report kept by the auditing firm are supposed to be confirmed by the authorized institutions.

3- IF THERE IS NO AUDITING FIRM IN THE COUNTRY WHERE ONE IS ACTIVE, WHO MAY CONFIRM THE DECLARATIONS?
If there is no auditing firm in the country where one is active, tax returns can be confirmed by
3.1- Turkish Embassy or Consulate in that country with one copy of the document,
3.2- the representatives in the same nature that secure the Turkish benefits, if there is no embassy or consulate. It will be enough to submit the original document with a translated copy to Tax Office.

4- HOW SHOULD THE OVERSEAS LOSSES (BEING SUBJECT TO DISCOUNT) BE CALCULATED?
If the overseas losses (being subject to discount in Turkey) are set off or recorded as expense in related country, the amount of overseas income, which will be included in declaration in Turkey and which is before it is written as offsetting or expense, will be taken into consideration.

Source: Corporate Tax Law

22.08.2017

1- WHICH PERIOD IS VALID FOR THE TAXATION OF COMPANIES THAT ARE IN LIQUIDATION PERIOD?
Liquidation Period: The taxation of a company going into liquidation (whatever the reason is) will be done in liquidation period instead of financial period.

2- WHEN DOES THE LIQUIDATION PERIOD BEGIN AND END?
Liquidation begins when general assembly resolution about the liquidation of the company is recorded and ends when liquidation decision is recorded. For the period from the starting date to the end of the same year and each calendar year after that period and the ending of the liquidation; the period from the beginning of the related calendar year to the end of the liquidation period is regarded as an independent liquidation period.

If the liquidation period ends within the year when the liquidation begins, liquidation period begins from the liquidation date and lasts until the end of the liquidation.

2- IF THE LIQUIDATION PERIOD ENDS WITH LOSS, SHOULD THE OVERPAID TAX BE PAID BACK?
If the liquidation period ends with loss, the results in liquidation should be corrected and the overpaid tax should be paid back to the taxpayer in aforementioned period.

3- IF THE LIQUIDATION LASTS MORE THAN ONE YEAR, WHEN DOES THE ASSESSMENT TIMEOUT BEGINS?
If the liquidation lasts more than one year, assessment timeout will begin one year later after the liquidation period ends. 

4- IF ONE GIVES UP LIQUIDATION, CAN THE LIQUIDATION PROVISIONS BE APPLIED?
If one gives up liquidation, the liquidation provisions will not be applied to the company.
4.1- The decision about giving up liquidation is valid from the beginning of the period when the decision is made.
4.2- Liquidation returns that are done until the date when one gives up liquidation will be regarded as normal returns.
4.3- The obligations related to the advance tax of a company that gives up liquidation will begin from the beginning of advance tax period including the date when the liquidation is given up.

Source: Corporate Tax Law

21.08.2017

1- WHAT IS THE AMOUNT OF EXPORT OF TURKEY?
1.1- By 2016, the total amount of export of Turkey was 142 Billion 606 Million USD.
1.2- By 2015, the total amount of export of Turkey was 143 Billion 838 Million USD.
1.3- The decrease in export was 1 Billion 232 Million USD between 2015 and 2016.

2- WHAT IS THE AMOUNT OF IMPORT OF TURKEY IN 2016?
2.1- By 2016, the total amount of import was 198 Billion 601 Million USD.
2.2- By 2015, the total amount of import was 207 Billion 234 Million USD.
2.3- Import reduction between 2015 and 2016 was 8 Billion 633 Million USD.

3- WHAT IS THE DIFFERENCE BETWEEN IMPORT AND EXPORT OF TURKEY IN 2016?
3.1- By 2016, the difference between import and export was 55 Billion 995 Million USD in Turkey.
3.2- The difference called balance of foreign trade was 63 Billion 395 Million USD in 2015.
3.3- Foreign trade deficit between 2015 and 2016 was 119 Billion 390 Million USD.

4- WHAT IS THE DIFFERENCE OF IMPORT AND EXPORT BETWEEN 2007 and 2016 OF TURKEY?
4.1- The total amount of export between 2007 and 2016 was 1 Trillion 338 Billion 551 Million USD in Turkey.
4.2- The total amount of import at the same period was 2 Trillion 075 Billion 560 Million USD.
4.3- Foreign trade deficit at the same period was 737 Billion 009 Million USD.
4.4- ARITHMETIC AVERAGE within 10 Years

EXPORT        : 133 Billion USD/Yearly
IMPORT        : 207 Billion USD/Yearly
DEFICIT        :   74 Billion USD/Yearly

Source: Turkish Statistical Institute

19.08.2017

The first sub clause of the first clause of article 5 of the Stamp Tax Law numbered 488 has been amended as “If a paper prepared more than one copy is subject to fixed tax, each copy is subject to stamp tax. If a paper prepared more than one copy is subject to proportional tax, only one of its copy is subject to stamp tax” with article 23 of the law numbered 6728 enacted 09.08.2016.

Before the amendment of the law, the copies of papers (subject to either fixed tax or proportional tax) were separately subject to both proportional tax and stamp tax.

In accordance with the amendment, if the taxable event occurs after the effective date (09.08.2016), only one copy of the paper prepared more than one copy and being subject to proportional tax will be subject to stamp tax.

For the papers being subject to fixed tax, each copy will be subject to tax.

Source: Stamp Tax Law

18.08.2017

ACCORDING TO CORPORATE TAX LAW, IS IT POSSIBLE TO TAKE ADVANTAGE OF THE SALES EXCEPTION IN THE EVENT OF THE SALE OF A (INCOMPLETE) BUILDING BUILT ON A GROUND THAT HAS BEEN HELD IN A COMPANY’S ACTIVE ACCOUNT MORE THAN TWO YEARS?
In case of the sale of building construction built on a ground, which has been held in a company’s active account more than 2 years, before having been completed;
1- 75% of the income gained by the sale of the ground will be subject to Corporate Tax Exemption,
2- The income gained by the sale of a building under construction will not be subject to exemption.

Source: Corporate Tax Law

17.08.2017

The sub clause (a) of the first clause of article 10 of the Corporate Tax Law Numbered 5520 related to the R&D discount has been abolished as of the date of 09.08.2016 in compliance with article 57 of the law numbered 6758.

The law on the amendment of some laws on the purpose of improvement of the investment environment numbered 6728 and article 3/A have been added to the law on the support of research, development and design activities numbered 5746. R&D discount institution related to the R&D and innovation activities existing within the structure of income and corporate taxpayers’ corporations has been specified in article 3/A of the law numbered 5746.

Accordingly, 100% of research and development expenses related to searching new technology and information developed within the structure of income and corporate taxpayers’ corporations will be a subject for discount on the determination of profit in line with article 10 of the Corporate Tax Law numbered 5520 and article 89 of the law numbered 193; providing that these projects are regarded as R&D and innovation projects by the Ministry of Science, Industry and Technology.

Herewith, R&D discount will be applied to the applications done within the scope of article 3/A of the law numbered 5746 as of the date of 09.08.2016 as long as the law numbered 5746 and the related legislations are taken into consideration about the discounts related to research and development projects on searching new technology and information. On the other hand, R&D discount will be applied to the projects being subject to the applications done before 09.08.2016 within the scope of General Communiqué on Corporate Tax with serial number 1 according to the provisions (the provisions before the sub clause (a) of the first clause of article 10 of the Corporate Tax Law was amended with the Law numbered 6728).

Source: Corporate Tax Law

16.08.2017

How are the arrival-departure and the accommodation of ship’s crew in Turkey?
The identity cards (accepted by the Ministry) of foreign seamen residing in the ships and the yachts registered in Turkish International Ship Registry take over passport.

Passport is not required for ship’s crews who have seamen’s identity cards and arrive in or depart from port cities or center of population near the port cities.

Legislation provisions related to the admission of foreigners to the country and their departure from the country are reserved.

Source: Turkish International Ship Registry Law

15.08.2017

If the laws are violated or support and promotion conditions are misused,
1- there will be loss of tax for the taxes that are not accrued on time,
2- the late fee (because of the loss of tax),
3- and the loss of tax should be paid.

Tax-free supports should be collected by applying late fee and in line with the law on collection procedure of assets numbered 6183.

Source: Corporate Tax Law

14.08.2017

The conditions about the deductions for the payments related to the computers bought from companies residing abroad in line with article 30 of the Corporate Tax Law Numbered 5520;

1- If the computer programs bought from companies residing abroad are sold to the eventual customers or used in an institution without doing modifications on them and/or multiplying, the income will be regarded as a commercial income and the tax cut will not be applied to that kind of payments.

2- If the rights of reproduction, modification, distribution, display of a computer program are reserved within the scope of Copyright, the purchaser will obtain an intangible right. Furthermore, there will be a tax deduction in the ratio of 20% from the royalty payments made to the company residing abroad, in line with the Cabinet Decision numbered 2009/14593.

3- If the company residing abroad prepares a special computer program for an institution, the profit made by the company residing abroad will be regarded as self-employed income and there will be tax deduction in the ratio of 20% in line with the Cabinet Decision numbered 2009/14593.

4- If there is avoidance of double taxation treaty between the country in where the company reside and our country and there is determined a lower ratio as a tax (that ratio is specified as 10% in the treaties), that ratio will be taken into consideration.  

Source: Corporate Tax Law