Ministry imposes 250 million in tax penalties on IBAN-based trade: 'Audits will continue...'

The Ministry of Treasury and Finance, in its audit of 250 taxpayers who evaded taxes by collecting payments via IBAN, determined in the first phase that 1.5 billion liras in earnings were left unregistered and imposed a tax penalty of 250 million liras on this amount.

According to information obtained from the Ministry, the Tax Inspection Board has reached a significant stage in the audits and analysis work carried out on taxpayers who seek to collect payments via IBAN from customers to avoid issuing receipts and invoices for the purpose of tax evasion.

Taxpayers who want to collect their receivables through bank accounts using excuses such as "the POS machine is not working" are being closely monitored.

Tax inspectors, who established causal links as a result of analyzing bank accounts and money movements, expanded their audits to the 250 taxpayers identified in the first scope. According to the initial data obtained in this context, it was determined that 1.5 billion liras in earnings were left unregistered. The Ministry imposed a tax penalty of 250 million liras on this amount.

LUXURY RESTAURANT CHAINS AND PRECIOUS STONE FIRMS ARE ALSO INCLUDED

It was determined that the earnings left unregistered by directing payments to IBAN belonged to businesses in different sectors. For example, a luxury restaurant chain with branches in three major cities, a branch of a brand operating in the field of precious stones and jewelry, a large spare parts trading business, wedding and organization businesses, social media influencers, virtual marketplace businesses, and individuals engaged in real estate and vehicle trading drew attention in this context.

During the audit process, it was also determined that some money transfers originated from crypto asset service providers, payment service providers, capital market brokerage firms, and investment accounts. In addition, it was observed that there were transfers made to gambling dealers and transfers made by spouses and relatives.

WARNING FROM MINISTER ŞİMŞEK

Minister of Treasury and Finance Mehmet Şimşek, in his assessment of the subject, pointed out that the audits carried out for taxpayers who want to receive their payments through bank accounts with various excuses and evade taxes by not issuing receipts and invoices to their customers are continuing to expand, stating, "Audits will also continue regarding individuals and firms who claim that the money coming into their accounts belongs to others."

Stating that they are also monitoring taxpayers who have started requesting cash payments instead of IBAN to evade taxes and who still do not issue receipts or invoices, Şimşek warned that audits will continue based on incoming reports and that they will reach every taxpayer who operates informally and is not in the system.

Şimşek stated that they will continue to follow those who cause tax loss and evasion, gain unfair profits, and create unfair competition, adding, "As the Ministry, we are closely monitoring businesses that do not pay their taxes by collecting payments through informal methods. Do not collect your receivables via IBAN or bank accounts in a way that leaves them outside of taxation, and do not be a partner in informal activities. Our widespread and intensive audits aimed at increasing justice in taxation and reducing informality will continue in an uncompromising and strong manner."

News Source: AA