“Law 7417: Amendments to TPL and TCC”
Law No. 7417 was published in the Official Gazette dated 05.07.2022 and numbered 31887. The amendments made to the Tax Procedure Law and Turkish Commercial Code by the said Law are as follows:
Authorisation Granted to the Ministry of Finance Regarding Real Beneficiary Notification
With this Law, a new subparagraph (9) was added to the first paragraph of Article 257 of the Tax Procedure Law No. 213, granting the Ministry of Finance the authority to regulate matters related to the real beneficiary notifications of legal entities and unincorporated organizations. This includes determining the scope of the real beneficiary, the obligation to report those included, the content, format, standards, submission periods, and methods for notifications, changes to these aspects, and other procedural matters related to the notification and electronic storage requirements.
Increase of Certain Special Irregularity Penalties
With the Law No. 7417, the penalties for non-compliance with various special irregularity provisions were increased as follows:
– For failure to issue, obtain, or provide invoices, expense receipts, delivery notes, and receipts for professional services, including electronic invoices required under the first paragraph, subparagraph (1) of Article 353 of the Tax Procedure Law, the minimum special irregularity penalty per document has been increased from 240 TL to **1,000 TL**.
– Similarly, for failures in retail sales receipts, payment recorder device receipts, passenger tickets, shipping receipts, transport notes, customer lists, and other mandatory documents, the penalty has been raised from 240 TL to **1,000 TL** per document.
– The total penalty for all documents in a single detection has been increased from 12,000 TL to **50,000 TL**, and the total penalty per calendar year has been increased from 120,000 TL to **500,000 TL**.
Moreover, for violations by electronic service providers in electronic commerce, penalties for non-compliance have been increased to five times the original amount, and double penalties may be applied for failing to meet reporting requirements related to electronic commerce activities.
Additionally, for non-compliance with subparagraph (9) of the first paragraph of Article 257, the penalty will be tripled.
Time to Apply to the Court in Case of Loss of Books and Documents
With the amendment made by Law No. 7417, the time allowed for merchants to apply to the court in case of the loss of books and documents due to disasters (such as fire, flood, or earthquake) or theft has been extended from “fifteen” days to “thirty” days from the date of learning about the loss, as per Article 82 of the Turkish Commercial Code.
You can access the relevant Law here.
Best regards,
BİLGENER
