Donations made to the campaign will tax deductible

Highslide JS

Dear members,

With the approvals of Ankara Governorship dated 2/8/2021 and 17/8/2021, a campaign was started by TOBB on 3/8/2021 in order to contribute to the compensation of disaster victims affected by forest fires and floods. The aid campaign still continues with the valuable contributions of you, our members, as well as chambers and exchanges. Our Association made a request from the Revenue Administration to make the cash donations of corporate taxpayers, who supported the campaign with their valuable contributions, a deduction from corporate income.

In its response letter, the Revenue Administration pointed out that all in-kind and cash donations made against receipts to aid campaigns initiated by the President in accordance with Article 10/1-e of the Corporate Tax Law No. 5520 can be subject to deduction on the tax return. As stated in the article; Corporation tax, provided that the donation amounts transferred to the bank accounts announced within the scope of the campaign are transferred to the accounts announced by the Emergency and Disaster Management Presidency within the scope of this decision, after 13/8/2021 (including this date), the effective date of the TOBB Decision No. 4372. It is possible to make a deduction in the determination of the tax base. In this context, since the receipts or bank receipts showing the information about each taxpayer and the donation amount separately should be kept for the determination of the discount, the relevant documents will be forwarded to the donating corporate taxpayers by TOBB.

Date : 6.09.2021 / Location :
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