Turkey Tax Agency Issues Guidance on Tax Rights, Obligations of New Businesses

The Turkish Revenue Administration April 7 issued Publication No. 604, on the tax rights and obligations of new businesses. Topics covered include: 1) notification requirements within 10 days of the start of business operations, and within one month of a business closure or specified business changes; 2) the five-year recordkeeping obligation, with no requirement to maintain paper records, for taxpayers under the actual method; 3) use of electronic ledger systems, and ledger certification; 4) the obligations for specified taxpayers to issue e-archive invoices if total taxes exceed 3,000 Turkish lira (US$67), and for regular method income taxpayers to file returns ...