The requirement of performing receipts and payments on motor vehicle leasing services through banks imposed.

Handling every type of receipts and payments over TL 7.000 through financial institutions and authenticating them with documents issued by those institutions for first and second class merchants, self-employed, tradesmen subject to simple entry for income detection, farmers liable to keep books and tax-exempt small retailers is mandatory. Through the Tax Procedure Law Communique series no.480 published in the Official Gazette dated 9 June 2017, for the taxpayers aforementioned that are dealing with car rental activities, the requirement of authenticating receipts and payments related to the motor vehicle rental services supplied, regardless of the limit indicated above (TL 7.000) with documents issued by the mediating financial institutions has been imposed. This obligation is effective as of 1 July 2017. Also through the same Communique, requirement of performing the receipts and payments for sales of products registered to the trade exchanges on time, owned by farmers not subject to real taxation system by mediating financial institutions has been removed. This term of the Communique is enacted as of its promulgation date (9 June 2017).

Our explanations provided above include general information on the issue. No responsibility can be claimed against EY and/or Kuzey YMM ve Bağımsız Denetim A.Ş. due to the implications arising from the context of this document or emerging with respect to its context.

Best Regards,
Kuzey YMM ve Bağımsız Denetim  A.Ş.