Law on Amending Certain Laws
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This law introduces changes to several existing statutes affecting taxation, higher education, social security, and administrative procedures in Turkey. Significant changes include adjustments in tax deductions related to advertising for gambling games, new exemptions for institutions in Value-Added Tax, and alterations in tax obligations for offshore and free zones. The law also clarifies the state's authority to vary its contribution to unemployment insurance. Additionally, adjustments have been made to ease financial obligations for disaster-affected regions, particularly concerning housing and business loans.
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Key Changes
- Tax deduction adjustments for gambling advertisement costs
- New VAT exemptions for institutions
- Changes in tax liabilities for offshore and free zones
Obligations
What this law requires
Institutions conducting advertising and promotion for gambling games must ensure that their advertising expenses are accounted for as tax-deductible expenses under the amended Income Tax Law.
Organizations exempt from Value-Added Tax must verify that their tax exemption aligns with the conditions specified under the amendments, particularly those set forth in the Corporate Tax Law.
BOTAŞ must collaborate with the Ministry of Commerce to ensure that overdue tax obligations are managed according to the provisions allowing for the offset of debts against receivables from the treasury, without accruing additional penalties or interests.
Legal persons conducting business in disaster-affected areas must engage in financial settlements concerning their debts to benefit from the specified tax deductions available for properties developed under national and international projects.
Employers must ensure that payments for private health insurance and individual retirement plan contributions do not exceed 30% of the minimum wage to avoid inclusion in the taxable base as per the amended Social Insurance Law.