Turkey has significantly loosened stamp tax obligations and
notary fees for a range of documents. Under the change, copies of
papers subject to proportional stamp tax are no longer subject to
stamp tax. From 9 August 2016, proportional stamp tax will only
apply to a single version of the document. Notary fees are also now
waived in certain circumstances. Fees and processes for documents
subject to fixed stamp tax remain unchanged. A new explicatory step
is introduced into tax investigation procedures.
The Law Amending Certain Laws for the Purpose of Improvement of
the Investment Environment, Law No: 6728 ("Law") was
published in Official Gazette number 29796 on 9 August 2016.
Significant changes introduced by the Law include:
Copies of papers subject to
proportional stamp tax are no longer subject to stamp tax.
The list of papers specifically
excluded from stamp tax is extended (Table 2 of the Stamp Tax
Any undertaking related to an
agreement by way of sanction, such as "down payment, forfeit
penalty, deduction from wage, contractual penalty clause" is
now exempt from stamp tax assessment, unless it is the subject of a
Notary fees no longer apply to copies
of papers which are issued as multiple copies, include a price, and
are subject to proportional fee.
Notarization of corporate books are
no longer subject to notary fees during the company establishment
Another significant change means the Administrative
Authority's "invitation to explain" process will no
longer apply if its predeterminations suggest tax evasion. The
Administrative Authority can send taxpayers an
"invitation to explain" prior to tax audit or referral to
the Valuation Commission. Accordingly, taxpayers can provide a
written statement of explanation, and potentially avoid audit or
referral. The Ministry of Finance will determine the nature of the
predetermination, form of the invitation to explain and the
institution's implementation procedures and principles.
Please see this link for full text of the Law (only
available in Turkish).
Information first published in the
MA | Gazette, a fortnightly legal update newsletter produced by
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