04.08.2024/35
Law No. 7524 Amendments to the Tax Procedure Law
Law No. 7524 on Amendments to Tax Laws, Certain Laws and Decree Law No. 375 was published in the Official Gazette dated 02.08.2024 and numbered 32620.
The amendments to the Tax Procedure Tax Law introduced by the Law are summarized below:
1. Changes have been made in the application of collateral to be sought from those who are found to have been registered for the purpose of issuing false documents and whose taxpayer status is canceled.
Under Article 153/A of the Tax Procedure Law, in the event that the taxpayers who were found to have established a taxpayer status for the purpose of issuing forged documents and whose taxpayership was canceled, wish to re-establish a taxpayer status or make a notification of commencement of work, a collateral of 10% of the amount of the forged document issued is required from these taxpayers.
With the amendment made by Law No. 7524, the amount of collateral to be received is limited to 10 million Turkish Liras in line with the decision of the Constitutional Court regarding the article.
In addition, the period for the provision of collateral has been increased from thirty days to sixty days.
Lastly, taxpayers who fulfill their collateral obligation and initiate legal action to remove their current status will not be jointly and severally liable for the follow-up of debts.
Effective: 02.08.2024
2. The Ministry of Treasury and Finance is authorized to impose notification obligations on those who provide services in other digital environments besides electronic commerce and to include the collections and payments of non-taxpayers within the scope of the obligation to certify.
Repeated Article 257 of the Tax Procedure Law authorizes the Ministry of Treasury and Finance to impose various notification obligations.
With Law No. 7524, this authorization has been extended to impose notification obligations on those who engage in economic and commercial activities such as purchases, sales, leases, advertisements and advertisements made in all kinds of digital media as well as electronic commerce, electronic commerce intermediary service providers, etc.
On the other hand, the aforementioned regulation authorizes the Ministry of Treasury and Finance to include the collections and payments of those who are not taxpayers within the scope of the certification obligation.
Effective: 02.08.2024
3. Stock Exchange Price will be used for the valuation of precious metals.
Since precious metals were considered as commodities, they were valued at their purchase price. Therefore, there was no income or expense as a result of the end-of-period valuation for these assets.
With the amendment made to Article 263 of the TPL by Law No. 7524, the stock exchange valuation will be used in the valuation of precious metals traded on the precious metals exchange.
Parallel to this, Article 274/A was added to the aforementioned Law. According to the provision of the Article, precious metals such as gold, silver, platinum and palladium shall be valued with the stock exchange market price, and if there is no stock exchange price or if it is understood that the stock exchange price is formed in a fraudulent manner, the cost price shall be taken as the basis for valuation instead of this price.
Receivables and payables based on deposits or loan agreements with precious metals shall be taken into account together with the interest to be calculated until the valuation day.
Effective: 02.08.2024
4. Tax penalty to be imposed on unregistered employees will be increased by 50%.
Tax loss penalty is regulated in Article 344 of the Tax Procedure Law. With the amendment made to the article with the Law No. 7524, an increased penalty of 50% will be applied in case of causing tax loss by engaging in commercial, agricultural or professional activities outside the knowledge of the tax office without complying with this obligation, although it is required to establish a taxpayer.
Effective: 02.08.2024
5. Irregularity Penalties Increased.
Article 352 of the Tax Procedural Law specifies the amounts of irregularity penalties to be imposed on taxpayers due to non-compliance with the formal and procedural provisions of the tax laws.
With the amendment made by Law No. 7524, new irregularity penalties are determined as follows:
Effective: 02.08.2024
6. Special Irregularity Penalties Increased and New Acts Added to the Scope.
The special irregularity penalties under Article 353 of the TPL were also significantly increased by Law No. 7524. In addition, the special irregularity penalties under repeated Article 355 were also increased.
On the other hand, the regulation stipulating that taxpayers will be penalized with special irregularity penalties in the event that their collections related to the delivery of goods or performance of services are made through accounts registered in the name of other persons instead of accounts registered in their own name has been added to the text of the article.
With the amendments made in repeated Article 355 of TPL, non-compliance with the collateral regulations in Article 153/A is included within the scope of special irregularity penalty.
With the comprehensive subparagraph added to Repeated Article 355, payment recorder device manufacturers or importers and secure service providers providing services related to these devices, banks, electronic money institutions, payment institutions, charging network operating license holders and the creation and signing of electronic books, documents and records, The taxpayers who are authorized to provide services for any of the transmission and storage issues and the taxpayers who use, deliver or sell order, sales, accounting, inventory tracking and similar programs are subject to a special irregularity penalty in the amount determined in case they do not comply with the specified obligations.
Effective: 02.08.2024
7. Tax Principal Excluded from the Scope of Settlement.
Except for the applications made before the publication of the Law, with the amendment made by Law No. 7524, the tax principal has been removed from the scope of reconciliation. Accordingly, in the applications made after the effective date of the Law, reconciliation can only be applied for tax penalties.
Effective: 02.08.2024
You can access the relevant Law here.
Sincerely,
BİLGENER
