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Vergide Gündem
             English Translation

                                            What is changing in terms of tax procedure?

                                            Law numbered 7338 has been published on Official Gazette dated October 26,
                                            2021. We are focusing in this article on certain amendments made regarding Tax
                                            Procedure Law (TPL) with the abovementioned law.

                                            Expense note

                                            Utilization field of expense note has been expanded according to new Law as of
                                            November 1. From now on, expense note may be issued for not only tax-exempt
                                            tradesman but also for goods and services obtained from those which do not have
                                            the obligation to issue documents in scope of TPL.

                                            Previously, there was not time limitation with respect to issuing of such document
                                            in the law. From now on, issuance of such documents within a maximum period of
                                            7 days as of the date on which the delivery of good or service is made has been
                                            added to the law. Expense note, which is not issued within above period shall be
                                            deemed as never been issued and special irregularity fine shall be imposed upon

                                            In accordance with another amendment, on the condition that including information
                                            required on expense note, in case payment made to seller is documented with
                                            papers issued by the bank, payment entity and PTT (Post Office Directorate), such
                                            documents shall be deemed in place of an expense note.

                                            Doubtful receivables

                                            A cap (upper limit) has been established for minor receivables which may not
                                            worth litigation and execution proceedings according to the newly introduced law.
                                            Accordingly, receivables that do not exceed TRY 3,000 that have not been paid by
                                            the debtor despite the protest or written request more than once, may be deemed
                                            as doubtful receivables without resorting to lawsuits and enforcement.

                                            Daily depreciation

                                            Except for passenger cars subject to pro-rata depreciation, taxpayers have been
                                            given the opportunity to depreciate on a daily basis for depreciable economic
                                            assets that will be newly recorded in operating assets. In this case, useful life period
                                            on basis of days shall be calculated through the multiplying of useful life periods
                                            established and announced on the basis of years by the Ministry of Treasury and
                                            Finance with 365.

                                            Depreciation period can be extended

                                            Depreciation periods are already established according to Serial No.333
                                            Communique of TPL of Ministry of Treasury and Finance.  With the new law,
                                            taxpayers are given the right to extend their depreciation periods by considering
                                            longer useful lives, provided that they do not exceed 50 years and twice the useful
                                            life in this communique, and the same ratio is applied for each year.

     6                                                 December 2021
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