QR Code Application, MTV Extension, KKM Restriction

Please feel free to contact us if you have any questions regarding the following topics.

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Briefly Noted

- The QR code application starts on September 1st. All electronically issued documents will include a QR code, enabling the query, verification, and viewing of the relevant documents. This will be mandatory on all documents such as e-invoices, e-archive invoices, e-waybills, e-receipts for self-employed professionals, and e-dispatches

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- The due date for the first installment of the additional motor vehicle tax was August 31st, but it has been extended to September 6th

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- The 3rd installment payment for debts restructured within the scope of Law No. 7440 is …. August 31st

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- Submission of CPA / Sworn-CPA reports for TÜBİTAK projects … August 31st

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- Reserve requirements that banks are obliged to maintain for FX-Protected Deposits (KKM) have been increased. This will cause banks to engage in fewer KKM accounts

.- The threshold for the document proving that advance export proceeds have been brought into the country and that an equivalent amount of foreign currency has been sold to the bank has been raised from 30 thousand dollars to 50 thousand dollars

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- Taxpayers holding fuel and LPG licenses shall submit a letter of guarantee every year

* 10 million TRY for new entrants

* 1% of the gross sales of the previous year for ongoing operations (provided that it does not exceed 100 million TRY)

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- SMS verification for the e-visitation screen. The employer representative must register their mobile phone number via e-Government under "SSI Information-Mobile Phone Declaration". Access to the SSI system will be granted via the SMS sent to the phone for two-factor security

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Reminders

- Young entrepreneur exemption

* Under 29 years of age

* Must be their first company, and the newly established company must be a sole proprietorship

* Income tax exemption for 3 years, up to 150 thousand TRY annually

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- Individuals who are not taxpayers will not be able to sell vehicles more than 3 times a year; the notary system will not permit it

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- The daily meal allowance to be provided to employees is 105.75 TRY according to SSI regulations and 110 TRY (+VAT) according to tax laws. If meal payments exceeding these amounts are made, SSI and income tax must be calculated for the exceeding portions

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- A sole proprietorship employer's spouse working alongside them without receiving a wage is not considered insured; this exemption applies solely to the spouse and does not apply to mothers, fathers, and children

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- Severance pay and notice periods: Prior to the termination of the employment contract, the other party must be notified within the periods specified below. The party failing to comply with the notice requirement is obliged to pay compensation to the other party. The employment contract may be terminated immediately by paying the wages corresponding to the notice period in advance

* If less than 6 months … 2 weeks

* 6 months to 1.5 years … 4 weeks

* 1.5 years to 3 years … 6 weeks

* More than 3 years … 8 weeks

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- Conditions for a reinstatement lawsuit

* 30 or more employees working at the workplace

* The relevant employee having at least 6 months of seniority

* Applying to the mediator within 1 month after the notification of termination

* If no agreement is reached through mediation, applying to the labor court within 2 weeks from the date the final minutes are drawn up

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- Consequences of a reinstatement lawsuit

* If the reinstatement of the employee is ruled in the reinstatement lawsuit, the employee must apply to the employer within 10 days

* The employer must make a decision within 1 month. If the employer reinstates the employee, the previous employment contract continues as if there had been no interruption at all

* If the employer does not re-employ the employee within 1 month, remains silent, or reinstates them under more unfavorable conditions, the contract shall be deemed terminated

* In the event of termination of the contract, compensation equal to 4 to 8 months' wages shall be paid to the employee

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