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Non-domestic producer price index increased by 1.17%

Non-Domestic Producer Price Index, October 2019, in Turkey

Non-domestic producer price index (ND-PPI), which measures the change in the price of goods manufactured in the country and exported in a reference period, increased by 1.17% on monthly basis, increased by 7.49% on December of the previous year basis, decreased by 2.88% on same month of the previous year basis and increased by 18.32% on the twelve months moving averages basis in October 2019.ND-PPI monthly increased by 0.81% in the index for mining and stone quarrying and increased by 1.18% in the index for manufacturing.

Non-domestic producer price index annual change on same month of the previous year, October 2019
[2010=100]

The highest monthly increase was in tobacco products

The highest rates of monthly increase by sub divisions of industry were indices for tobacco products by 9.58%, for paper and paper products by 3.07% and for machinery and equipment (n.e.c.) by 2.53%. On the other hand the highest rates of monthly decrease in ND-PPI by sub divisions of industry were indices for metal ores by 0.28%, for other manufactured goods by 0.17% and for basic metals by 0.06%.

The highest monthly increase in main industrial groupings was in capital goods

According to main industrial groupings classification, the highest rate of monthly increases was in capital goods by 1.83% in October 2019.

Non-domestic producer price index and rate of changes, October 2019
[2010=100]

The next release on this subject will be on December 20, 2019.

Source: TÜİK
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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Until when education and health expenses made by a person for his/her children can be stated as an expense in income tax? (In Turkey)

In income tax calculations, while applying education and health deductions, the age of 25 is important in education for the children. Can the invoices belonging to the children until the month when they turned to 25 years old in that year, be used?

In tax applications, the calendar year basis is taken into consideration. Although 25 years of age expires during the year, we believe that the documents until the end of the year will be used.

Source: İSMMMO
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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If both parties issuing and receiving e-Tickets on the e-Ticket application are the e-Invoice taxpayers, will the e-Ticket be sent to the recipient’s e-mail address as e-Invoice through the portal? (In Turkey)

You can find the taxpayers who have received e-ticket permission from the Revenue Administration in Turkey through our official website of e-invoice. The document to be issued is not an invoice, but a ticket, since these companies are engaged in the business of passenger transportation. Therefore, these taxpayers who have received e-ticket permission within the scope of Communiqué no. 462 are obliged to issue electronic tickets even if they are registered users of e-invoice.

Source: GİB
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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Floor area of buildings given Construction Permits decreased by 58%

Building Permits, January-September, 2019, in Turkey

In the first nine months of 2019 compared with the previous year, number of buildings, floor area of buildings, value of buildings and number of dwelling units decreased by 57.1%, 58%, 48.9% and 63.8% respectively according to the Construction Permits given by municipalities to the buildings.

Buildings given Construction Permits in the total of January-September 2019;

Total floor area of buildings realized as 45.5 million m2 and 20.3 million m2 of it realized as residential building, 17.1 million m2 of it realized as non residential building and 8 million m2 of it realized as common used area.

According to the use of building, two and more dwelling residential buildings had the highest share with 26.7 million m2. It was followed by public entertainment, education, hospital or institutional care buildings with 5.3 million m2.

According to the type of investor, private sector had the highest share with 33.2 million m2. It was followed by public sector with 11.2 million m2 and construction cooperatives with 1.1 million m2 respectively. According to the number of dwelling units, from total 179 thousand 766 dwellings, 155 thousand 469 of it was taken by private sector, 21 thousand 985 of it was taken by public sector and  2 thousand 312 of it was taken by construction cooperatives.

According to the provinces, İstanbul had the highest share with 7.5 million m2. It was followed by Konya with 2.9 million m2 and Ankara with 2.88 million m2 respectively. The provinces which had the lowest floor area were Karabük, Ardahan and Çankırı respectively.

According to the dwelling units, İstanbul had the highest share with 33 thousand 538 dwelling units. It was followed by Konya with 9 thousand 702 dwelling units and Ankara with 7 thousand 768 dwelling units respectively. The provinces which had the lowest dwelling units were Karabük, Ardahan and Hakkari respectively.

Construction Permit, January-September 2017-2019

Floor area of buildings given Occupancy Permits decreased by 7.2%

In the first nine months of 2019 compared with the previous year, number of buildings, floor area of buildings and number of dwelling units decreased by 20.6%, 7.2% and 11.3% respectively on the other hand, value of buildings increased by 12.3% according to the Construction Permits given by municipalities to the buildings.

Buildings given Occupancy Permits in the total of January-September 2019;

Total floor area of buildings realized as 111.4 million m2 and 62.7 million m2 of it realized as residential building, 25.4 million m2 of it realized as non residential building and 23.2 million m2 of it realized as common used area.

According to the use of building, two and more dwelling residential buildings had the highest share with 84.1 million m2. It was followed by wholesale and retail trade buildings with 7.7 million m2.

According to the type of investor, private sector had the highest share with 94.2 million m2. It was followed by public sector with 15 million m2 and construction cooperatives with 2.2 million m2 respectively. According to the number of dwelling units, from total 543 thousand 801 dwellings, 492 thousand 287 of it was taken by private sector, 42 thousand 662 of it was taken by public sector and 8 thousand 852 of it was taken by construction cooperatives.

According to the provinces, İstanbul had the highest share with 20.3 million m2. It was followed by Ankara with 10.8 million m2 and Bursa with 4.8 million m2 respectively. The provinces which had the lowest floor area were Ardahan, Tunceli and Batman, respectively.

According to the dwelling units, İstanbul had the highest share with 106 thousand 637 dwelling units. It was followed by Ankara with 39 thousand 510 dwelling units and İzmir with 29 thousand 235 dwelling units respectively. The provinces which had the lowest dwelling units were Ardahan, Batman and Bayburt, respectively.

Occupancy Permit, January-September 2017-2019

The next release on this subject will be on February 24, 2020.

Source: TÜİK
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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What should be the exchange rate when issuing invoices with foreign exchange?

We issue invoices in foreign exchange to companies. If our taxpayer invoices on 05.09.2019, he/she takes into account the rate dated 04.09.2019. Does this transaction cause a problem in terms of tax legislation?

The rates announced by the Central Bank on 04/09/2019 at 15:30 will be taken into consideration for the foreign exchange rate to be applied on 05/09/2019. For the valuation, the buying rate of foreign exchange of Central Bank on 04.09.2019 is taken into consideration.

Source: İSMMMO
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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What kind of documents should I issue for selling products abroad?

A company offered our company which sells books, to export to the USA through our company. Does it cause a problem for us in terms of legislation?

An invoice is issued for the exported goods. There will be no problem if you export with Customs Declaration Form.

Source: İSMMMO
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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In October 2019, 142 810 houses were sold in Turkey

House Sales Statistics, October 2019, in Turkey

In Turkey, house sales decreased by 2.5% in October 2019 compared to the same month of the previous year and hence, became 142 810. For the house sales of October 2019, İstanbul had the highest share of house sales with 17.1% and 24 451 sold house. The followers of İstanbul were Ankara with 13 978 house sales and İzmir 9 012 house sales with the share of 9.8% and 6.3% respectively. The least house sold provinces were Hakkari with 13 house sales, Ardahan with 24 house sales and Bayburt with 93 house sales.         
Number of house sales, 2018-2019

In October 2019, 50 411 ownership of the houses changed by mortgage sales

The mortgaged house sales throughout Turkey became 50 411 by increasing 525.1% compared to the same month of the previous year. House sales with mortgage had a 35.3% share of all house sales in Turkey. Most of house sales with mortgage was in İstanbul with 8 408 sales. İstanbul was the first province in Turkey ranking that has most house sales with mortgage share with 16.7%. Mortgaged house sales had the highest share in Artvin with 54.3% of all house sales.

Ownership of 92 399 houses changed by other sales

Other house sales in Turkey became 92 399 by decreasing 33.3% compared to the same month of the previous year. In the other sales, İstanbul was the first province with 16 043 sales and 17.4% share. Other house sales had 65.6% share of all house sales in İstanbul. Ankara was the second province with 7 875 sales. Ankara was followed by İzmir with 5 344 sales. The least other house sales were realized in  Hakkari with 10 house sales.

House sales by type of sales, October 2019         

House sales by state of sales, October 2019


In house sales, 50 181 of houses were sold for the first time

First house sales in Turkey became 50 181 by decreasing 32.9% compared to the same month of the previous year. First house sales had 35.1% share of all house sales in Turkey. The most first house sales was in İstanbul with 8 988 sales. İstanbul was the first province in Turkey ranking that had most first house sales share with 17.9%. The followers of İstanbul  were Ankara with  3 683  house  sales and  İzmir with   2 967 house sales.

Ownership of 92 629 houses changed by second hand sales

Second hand house sales in Turkey became 92 629 by increasing 29.2% compared to the same month of the previous year. In the second hand sales, İstanbul was the first province again with 15 463 sales and 16.7% share. Share of the second hand sales was 63.2% in İstanbul in total house sales. Ankara was the second province with 10 295 sales and Ankara was followed by İzmir with 6 045 sales.

In October 2019, 4 272 houses were sold to foreigners

In house sales to foreigners became 4 272 by decreasing 31.9% compared to the same month of the previous year. İstanbul was the first province with 2 043 sales in October 2019. The followers of İstanbul were Antalya with 912 house sales, Bursa with 215 house sales, Ankara with 192 house sales and Yalova with 134 house sales.

Most house sales were made to Iraq citizens according to country nationalities

Iraq citizens bought 597 houses from Turkey in October. The followers of Iraq were Iran with 536 house sales, Russia with 292 house sales, Germany with 225 house sales and Afghanistan with 185 house sales.

The next release on this subject will be on December 17, 2019.

Source: TÜİK
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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How should VAT be applied to transportation invoice that we issued to the company of which we transport its goods abroad and its head office in Turkey?

We are an intermediary company for cargo transportation. We send textiles of our customer of which head office in Turkey, as cargo by airway abroad. So, the invoice is issued to company in Turkey, but the products are sent abroad at customer’s request. Will VAT be applied for this service or will it be exempted from the VAT? 

Your job is not transportation, but brokerage. The VAT will be calculated in the invoice.

Source: İSMMMO
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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How do we apply VAT on food sales to the banks? (In Turkey)

Our company, which is a restaurant, sells food to the personnel of banks. It is requested to issue invoice with stoppage. What is the implementation in this situation?

VAT, which is calculated from the sale of food to banks, is subject to VAT stoppage. (5/10)

Source: İSMMMO
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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Should we start the income tax base from scratch, if we reemploy the employee that we dismissed, within the same calendar year? (In Turkey)

We have reemployed the employee that we dismissed, within the same calendar year. When we reemploy this worker, will we take into account the income tax base that has been transferred due to the previous working period?

If the same employer starts to work in the same calendar year with the same employer, the tax bracket will resume on. If the employer changes, this tax bracket starts from zero.

Source: İSMMMO
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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