Ministry takes action regarding dividend income!

The Ministry of Treasury and Finance, through the Revenue Administration (GİB), has conducted a comprehensive audit regarding dividends obtained from publicly traded companies. In this review, which covers the years 2022, 2023, and 2024, the dividends distributed by publicly traded companies to their shareholders were analyzed in detail.

During the study, gross dividend amounts were determined by taking into account previous income tax withholdings. According to the Income Tax Law, since half of the dividends obtained by individuals are exempt from tax, it was checked whether the remaining income after this exemption exceeded the annual declaration thresholds.

As a result of this examination, it was revealed that 1,725 individuals did not report their dividend income exceeding the declaration threshold, and as a result, approximately 200 million liras in taxes were not paid. These individuals, who earned income above the declaration threshold, have been reported to the relevant tax offices.

Minister of Treasury and Finance Mehmet Şimşek stated that the GİB will continue its work on taxpayers who do not fulfill their tax obligations by utilizing technological capabilities. Şimşek stated, "With such audits, we aim to both increase the level of voluntary compliance and ensure that the tax system is more fair, transparent, and sustainable."

News Source: 12punto