The following amendments have been made to the Value Added Tax (VAT) General Implementation Communique with the Communique numbered 50 which was published in the Offical Gazette dated 10.02.2024.
A. With Article 1 of the Communique, explanations regarding the deduction of the Reverse VAT has been removed from the Section of General Implementation Communique numbered I/C-2.1.1.2 and a reference has been made to the “Tax Deduction” section.
B. With the 2nd article of the Communique,state economic enterprises have been added to the parties who are required to withhold VAT over the cost of other services.
C. According to the 3rd article of the Communique, the invoice amount must be above the limit of issuing an invoice in order to withold VAT.
D. With Articles 9, 10, 11 and 12 of the Communique, the validity date of VAT exemption has been extended to 31.12.2028.
E. With the 13th article of the Communique, a section (numbered III/C.1.1.) regarding the deduction of reverse VAT has been added to the General Implementation Communique in parallel with the amendments made with the Law numbered 7491.
Following articles has also made changes in the General Implementation Communique according to the mentioned amendments.
- With the 4th,5th and 6th articles of the Communique, amendments have been made regarding the refund of reverse VAT.
- With the amendment made with Article 7 of the Communique; the accrued amount of reverse VAT cannot be deducted from the VAT refund which is declared with VAT declaration numbered 1 in the same period.
- With 8th article of the Communique, section of the General Implementation Communique numbered 11, which includes regulations on VAT exemption regarding the fertilizers registered by the Ministry of Agriculture, has been amended as the reverse VAT can be deducted if paid.
F. According to the 7th and 14th articles of the Communique, if the missing documents are submitted after the 30-day additional period in the refund requests, interest will be applied for the period between the notification date of the deficiency letter to the taxpayer and the date when the taxpayer eliminates the deficiency.
G. With the 16th article of the Communique,the declaration date of Reverse VAT has been changed as the 21st day of the month following the month in which the VAT is withold, and the payment date as the 23rd day.
You can access the Communique numbered 50 from the link below.
https://www.resmigazete.gov.tr/eskiler/2024/02/20240210-5.htm