Parliamentary General Assembly starts its weekly shift tomorrow. In this context, the biggest agenda of the Board will be the Bill of Law on Amending the Tax Procedure Law and Some Laws. According to the news of Birgün, the parliament is working overtime this week to enact the tax regulation.
The Ministry of Treasury and Finance has been working on the Tax Reform Package for a while. At this point, it is now in the final stages. Last week, the package to be sent to the Parliament and enacted was on the agenda of the parliament. The package contains various arrangements at a new level of structuring.
The package, whose last meeting was held under the Presidency of Vice President Fuat Oktay, was of interest to people who make money from social media. In this context, a 15 percent tax cut was taken into consideration. Now, new decisions will be made officially within the parliament.
Social media tax is set at 15%
Social media content producers and application developers who share within social network providers are included in the scope of tax on their earnings. Last week, the decision to apply a 15 percent withholding tax to social media content producers and application developers whose income is below 650 thousand TL was approved.
With the regulation to be discussed, the earnings of around 850 thousand taxpayer groups, who fall into the ‘small tradesmen’ class, are also exempt from income tax. The tax office, which can be established electronically, has the opportunity to conduct tax inspections remotely. A special irregularity fine of 1400 liras will be imposed on printing house operators who fail to fulfill their duty of notification in the printing of documents within the specified time, or whose notification is incomplete.
What do you think about the agenda of the parliament? Don’t forget to share your ideas with us in the comments section!
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