The era of 'don't give me a receipt, give me a discount' is coming to an end

The Ministry of Treasury and Finance aims to reduce informal trade as part of revenue-enhancing regulations by imposing heavy penalties on those who fail to issue documents such as receipts and invoices, as well as those who do not request them.

In this context, the proposal prepared by the Revenue Administration (GİB) includes a regulation on documentation in shopping that concerns the entire public.

According to the report by Hüseyin Gökçe from Ekonomim, a special irregularity penalty of 10 percent of the amount, with a minimum of 3,400 Turkish Lira, is currently applied to those who do not issue documents such as invoices and receipts. If the buyer is a consumer rather than a taxpayer, the penalty is applied at a rate of 1/5.

PENALTIES TO BE INCREASED

The GİB plans to increase the penalties applied to both buyers and sellers in the new period. In this context, it is proposed that the penalty for sellers who do not comply with documentation requirements be raised from 3,400 Turkish Lira to a minimum of 30,000 Turkish Lira for the first detection. If the sales amount is high, a special irregularity penalty of 30 percent of the unissued amount will be applied.

However, buyers will be exempt from the penalty if they report the failure to issue a document to the GİB within 5 days.

HEAVY PENALTIES FOR THOSE WHO LET OTHERS USE THEIR ACCOUNTS

Heavy penalties are also coming for companies that collect payments for their sales through the IBAN accounts of family members or others instead of their own company accounts, as well as for those who allow their own accounts to be used for this purpose.

Both parties will be subject to separate special irregularity penalties of 10 percent of the transaction amount, with a minimum of 30,000 Turkish Lira and a maximum of 20 million Turkish Lira.

SPECIAL IRREGULARITY PENALTY TO BE IMPOSED

On the other hand, heavy penalties are also planned for those who use someone else's POS device and those who allow others to use their POS device, a practice that has frequently come to the agenda recently.

In this context, it is planned to impose special irregularity penalties on both parties, ranging from 22,000 Turkish Lira up to 90,000 Turkish Lira, depending on the type of tax liability.

News Source: 12punto

Related News

Revenue Administration provides figure for international departure fee: 'Implement regular annual hikes'

Revenue Administration warning on international departure fee stamps: Do not stockpile before the price hike