Post by account_disabled on Mar 12, 2024 2:10:42 GMT -2
The within the framework of the procedures and principles determined by the Ministry of Treasury and Finance can be taken into account as an expense. edited. In determining corporate income in accordance with Article of the Corporate Tax Law Since it is regulated that the provisions regarding the calculation of commercial income regulated by the Income Tax Law will be applied all donations made within the scope of food banking can be taken into account as expenses at cost.
Therefore donations in this scope which are taken into account as expenses in determining commercialcorporate income by both income taxpayers and corporate taxpayers have a lossincreasing nature. For donations and aid made in foreign currency the amounts converted into Turkish Lira based on the foreign exchange buying rate of the Central Bank of the Ecuador Mobile Number List Republic of Turkey on the date of donation and aid should be taken into consideration. Documentation in Donations and Aids As explained in the Corporate Tax General Communiqu No. Inkind and cash donations are documented with a donation receipt and in cases where a donation receipt cannot be obtained It is also possible to document cash donations with the receipt given by the institutions or organizations that accept the donations or with the receipts received from the bank as a result of depositing them into the accounts opened at the bank for the said purpose.
In case the inkind donations and aid are donated by withdrawing from the assets or stock of the enterprise the taxpayers must issue invoices for the values they have withdrawn from the enterprise and donated It is sufficient to place an annotation on the back of the invoice stating that the values stated in the invoice have been received as donations or aid by the relevant public institution and organization and to have it signed by authorized persons. If inkind values are purchased from outside by taxpayers and donated.
Therefore donations in this scope which are taken into account as expenses in determining commercialcorporate income by both income taxpayers and corporate taxpayers have a lossincreasing nature. For donations and aid made in foreign currency the amounts converted into Turkish Lira based on the foreign exchange buying rate of the Central Bank of the Ecuador Mobile Number List Republic of Turkey on the date of donation and aid should be taken into consideration. Documentation in Donations and Aids As explained in the Corporate Tax General Communiqu No. Inkind and cash donations are documented with a donation receipt and in cases where a donation receipt cannot be obtained It is also possible to document cash donations with the receipt given by the institutions or organizations that accept the donations or with the receipts received from the bank as a result of depositing them into the accounts opened at the bank for the said purpose.
In case the inkind donations and aid are donated by withdrawing from the assets or stock of the enterprise the taxpayers must issue invoices for the values they have withdrawn from the enterprise and donated It is sufficient to place an annotation on the back of the invoice stating that the values stated in the invoice have been received as donations or aid by the relevant public institution and organization and to have it signed by authorized persons. If inkind values are purchased from outside by taxpayers and donated.