With the opening of the Parliament, the tax package, which has been preparing for a long time, was presented to the Parliament yesterday. . According to the proposal amending the Tax Procedure Law, signed by AK Party Manisa Deputy Uğur Aydemir, the earnings of taxpayers taxed in the simple method will be exempted from Income Tax. There are some conditions to be subject to the simple procedure.
Tradesmen with annual sales of less than 2021 thousand liras in 240 fall within the scope of the simple procedure. Again for this year, annual purchases should not exceed 150 thousand liras. This amount changes every year according to the revaluation rate. This year, an income of 228.8 million liras is expected from the simple method to the budget. The income obtained as of the end of August is 176.6 million TL. According to the data of the Revenue Administration, Istanbul has the highest number of small tradesmen with 47 as of August. Other provinces with the highest number of taxpayers subject to the simple procedure are İzmir with 205 thousand 30, Antalya with 849 thousand 30, Hatay with 558 thousand 27, Manisa with 852 thousand 27, Ankara with 240 thousand 25.
According to the proposal, earnings exemption will be introduced in social content production and application development for mobile devices. Accordingly, the earnings of social content producers who share content such as text, images, audio and video over social network providers on the internet, and the earnings of those who develop applications for mobile devices such as smartphones or tablets, through electronic application sharing and sales platforms, are subject to Income Tax. will be excluded. In order to benefit from this exemption, it will be necessary to open an account in banks established in Turkey and collect all revenues related to these activities exclusively through this account. Banks will only withhold 15 percent Income Tax as of the date of transfer, on the amount of revenue transferred to the accounts opened in this context. The taxpayers' earnings or revenues arising from other activities outside the scope of the regulation will not prevent them from benefiting from the exception. With the proposal, the authority to increase the minimum specific tax on cigarettes is tripled.
The authority granted to the President by the Special Consumption Tax Law is being changed in order to increase the efficiency in the fight against harmful tobacco products, to ensure taxation in accordance with the price fluctuations that may occur in the automotive sector, and to take quick and flexible decisions according to the social, economic and financial needs of the day.
With the proposal, the fourth provisional taxation period is abolished. Annual declaration and payment periods are pushed forward one month. With this amendment, the temporary tax period will end with the third temporary tax return to be submitted in November. The date of submission of the Income Tax declaration submitted in March of each year and the Corporate Tax declaration submitted in April will be pushed forward one month. The Income Tax return will be filed in February, and the Corporate Tax return will be filed in March. Support payments made to farmers with the proposal are exempted from Income Tax.
With the proposal of the law, the Ministry of Treasury and Finance is authorized to establish a tax office independently from the physical environment and to ensure that the transactions made by the tax office are carried out by the tax offices established in the electronic environment.