As is known, the document that needs to be prepared by self-employed professionals (such as dentists, financial advisors, lawyers) in Turkey is the Self-Employed Receipt. However, this situation has been updated according to the General Communiqué on Tax Procedure Law No. 509 and Self Employment Receipts have been included in the scope of E-SMM application. Accordingly, all self-employed people will have to switch to the E-SMM application and arrange their receipts electronically.

Now let’s talk about the connection between lawyers and this issue, the Union of Turkish Bar Associations launched MakbuzTek in order to make the E-SMM transition process easier and to establish a common e-portal for all lawyers.

All self-employed people who open must be included in the E-SMM system within 3 months as of the opening date. For this purpose, when you go to the address of the Bar Association with your tax plate, identity and electronic signature after the opening, your registration will be done and you will be given user passwords that you can use in the ReceiptTek system.

If you have any additional questions or want to consult on financial and tax matters, you can come to our financial advisory office in Fatih Istanbul, contact us via the contact information or leave a message via e-mail : )

Today, I would like to briefly talk about e-signatures, that is, electronic signatures, which have become popular recently. First of all, as mentioned in Article 5 of the Electronic Signature Law, an electronic signature has the same legal consequences as a handwritten signature. For this reason, I recommend you to be sensitive about the confidentiality of the password of the electronic signature you receive. However, on the other hand, applications, electronic contracts, etc. in many public institutions thanks to electronic signature. Transactions can be done remotely, providing great convenience.

Electronic signature can be obtained in two ways, personal or company. If you have a sole proprietorship, your electronic signature will also be valid in your transactions regarding your company. However, if your company has a separate legal entity, for example, if you own a capital company such as a limited liability company, you can also obtain an electronic signature on behalf of your company’s legal entity.

If you are going to make a personal application, you can make transactions by going to Electronic Certificate Service Provider companies with your identity, but if you want to get an electronic signature on behalf of a legal entity, that is, your company, you can still make transactions when you go with your company’s trade registry newspaper, signature circular, activity certificate and your identity.

​ ​If you have any additional questions or want to consult on financial and tax matters, you can come to our financial advisory office in Fatih Istanbul, contact us via the contact information or leave a message via e-mail.

Today, a financial advisor in Istanbul Fatih will talk about an important issue that concerns those who are under the age of 29 and want to become taxpayers: Young Entrepreneur Exception.

​ ​First, let’s talk about what it takes to benefit from the Young entrepreneur exception.

To be under the age of 1-29, not more than 30 years old. The calculation for this is very simple, if you have not turned 29 as of the date of tax opening, it is possible to benefit from it. If you subtract the year of birth from the year you are in (the year you want to open), if the result you get is 28 years old and below, it means you have met this condition.

2-No previous tax liability. You must not have any previous tax records.

3- The notification of starting work within the legal period. In other words, you must notify your opening within 10 days. It is obligatory to open the tax office within 10 days as of the lease contract date.

4-Not being a partner in a previously active business. (For example, the work performed by the father, such as the continuation of the work performed by the child, is an exception to the work transferred due to death)

5- The fact that the work is done directly by you. You should work directly in your business, and you should direct and manage that work.

If these conditions are met and the applications are made at the right time, let’s see what this exception gives you,

1-Income tax exemption up to 75,000 TL for 3 years, including the year you opened.

2-From the date of your opening, your Bağkur payments are covered by the Treasury for 1 year.

If you have any additional questions or want to consult on financial and tax matters, you can come to our financial advisory office in Fatih Istanbul, contact us via the contact information or leave a message via e-mail.

Greetings to our lawyer friends, I would like to start by briefly explaining what a financial advisor should pay attention to during the tax opening.

First of all, they can serve with the nace (activity) code of 691003 and tax openings are made in real method. The explanation of this activity code is as follows:

Companies under the category of legal consultancy and representation activities (attorney activities)

During the opening, an official address is required, as in other companies. If they want to use their own house in the home office style, if the lawyer who will open the title deed belongs to him, there will be no withholding tax. However, even if the house belongs to a family member, it will be necessary to prepare a rental contract and pay a certain amount of withholding tax for this rental.

There are some standard procedures after tax opening for lawyers who will work independently.

1. Provision of electronic signature: You can obtain the electronic signature with your identity when you go to any private company that sells electronic signatures, or you can get it through the PTT channel. If you want to buy it by PTT, it is delivered by cargo within at least 3 working days.

2. After receiving the electronic signature, you will need to go to the BARO you are affiliated with and get your Receipt System passwords. You can reach the following article, which I also mentioned on the subject of MakbuzTek, from the link.

3. Young Entrepreneur Exception: If you have not completed the age of 29, if you have not had any tax opening before, if you have notified your business start (tax opening) in time, the young entrepreneur application must also be made after the opening. You can access a detailed article on this subject from this link.

In general, the procedures in the opening of lawyers are like this. If you have any additional questions or want to consult on financial and tax matters, you can come to our financial advisory office in Fatih Istanbul, contact us via the contact information or leave a message via e-mail.

To explain briefly, withholding is the practice of withholding tax at source. Thanks to the withholding tax, the state can control the returns bilaterally, and sometimes it can alleviate the difficulties related to tax collection by making deductions as soon as the income is obtained. There are many channels where withholding tax is applied such as wages, rent payments, payments to self-employed people, progress payments in construction works extending to years, earnings from mutual funds, and dividends. Calculations are made on gross amounts (gross amount). As a financial advisor, I believe every taxpayer should understand the basis of withholding.

Now I will try to briefly explain the situation with an example:

For example, Adnan Bey gave his shop to Ayşe Hanım for rent and they signed a 1-year lease. Let the rent amount agreed on is 1000 TL per month. In this case, we must first find the gross amount. Different withholding types have different withholding rates. Withholding tax on rent is currently 20% of the gross wage. In order to find the gross fee for the net rent of 1000 TL,

We can use the net amount x100/(100-STOPAGE RATE) formula. Since our withholding rate is 20%;

We have obtained the gross rent amount of 1000 x 100/ (100*-20) = 1250 TL.

Withholding Amount = Gross Amount x Withholding Rate if we start from the formula;

1250×0.20=250 TL withholding tax will be issued.

While Adnan Bey declares his rental income in his annual tax return, Ayşe Hanım will pay 250 TL of the 1250 TL gross rent by declaring it with the 041 type code in the concise statement and will make a net rent of 1000 TL to Adnan Bey. In this way, the controllability of the information declared in the two declarations will increase.

To give another example, 20% withholding tax applies to Self-employed Receipts issued by self-employed people to taxpayers. Therefore, if a taxpayer wishes to receive services from a lawyer, he will declare and pay 20% of the gross wage as withholding tax in the withholding tax return, similar to the situation above.

Although the amounts and rates vary, the basic logic of withholding is like this. If you have any additional questions or want to consult on financial and tax matters, you can come to our financial advisory office in Fatih Istanbul, contact us via the contact information or leave a message via e-mail : )

According to TTK 776, a security bill is a bill that carries the elements of a bill of exchange and is subject to execution without judgment through a follow-up procedure specific to bills of exchange. 776/1-b of the Law No. 6102. Article 777/1 of the same law. In violation of the article, your right of objection may be eliminated because the deed in your possession does not have the quality of security. In this case, the hard way to go to the Enforcement Courts, the cost and burden of proof will increase. The follow-up of the deed that does not have the characteristics of a guarantee for the creditor will be quite easy due to the foreign exchange relationship. However, it is not possible for us to say these for the debtor. In order not to be in this situation, the guarantee document must fully meet the form conditions. Elements are determined by judicial decisions.

Bills are the most commonly used bills of exchange in daily life. Bond text is usually used when using a security note. If you want to give a security note to the creditor instead of a bond, it must first be written on the text that the note is a security note. It should also be stated in the text of this deed that the amount is given for collateral. Just writing them down or specifying the genus and type of the thing given as collateral behind the text is not valid in terms of judicial decisions. The executive director does not reject such a bill on the grounds that it serves as a guarantee and processes the follow-up. As can be seen, the security bill does not become valid with an ordinary transaction. For the security note, transactions other than the text of the promissory note are required. A contract must be made between the drawer and the beneficiary and this deed must be the subject of the contract. By writing the contract number to be made in the place where it is the promissory note number; Gaining the feature of certainty in the Guarantee Bill and 776/1-b. It will be ensured that the unconditional and unconditional condition specified in the article will be exceeded. In this case, if your beneficiary, that is, your creditor, tries to execute the receivable by way of prosecuting directly specific to bills of exchange, you will have a lawsuit that you can win. The security deposit can only be executed without judgment. In the event that it is deprived of its foreign exchange qualification, proceedings are opened in the Enforcement Courts, not by way of complaint, but by way of objection to the security note subject to follow-up without judgment. In this case, the creditor bears the burden of expense and the burden of proof will be on the creditor. In order for your legal process to be easy and inexpensive, it will be beneficial for you to act with the Lawyer or at least consult the Lawyer in the future.

I end my article with respect and greetings to Ahmet Faruk Altındaş, who is a financial advisor in Istanbul.

Lawyer Cihangir Emre AHLATLI