June 1, 2022
Turkey introduces continuous reporting requirement of certain information for property listings published on the internet
On 31 May 2022, the Turkish Ministry of Treasury and Finance issued a General Communiqué No. 538 on the Tax Procedure Code (the Communiqué), which contains principles and procedures regarding the continuous reporting of certain information for property listings and other listings published on the internet. The Communiqué was published in the Official Gazette dated 31 May 2022 and entered into force on the date of publication.
This Alert summarizes the key provisions regarding the information reporting process.
Parties subject to continuous reporting
Information to be reported
First reporting deadline
Those who are subject to continuous reporting are responsible for the correctness of the information that they report through BTRANS. The information should be reported in the proper format, standards and methods that are determined by the Turkish Revenue Administration. Information reported in any other format, standards or method would not be accepted and in such a case reporting would be regarded as not performed.
For additional information with respect to this Alert, please contact the following:
Kuzey Yeminli Mali Müsavirlik A.S., Istanbul
Ernst & Young LLP (United States), Turkish Tax Desk, New York