Tax Advisory

What happens if the money does not arrive before the filing deadline?

You lose the exemption and the full amount becomes taxable rather than half of it. The point worth noticing is what causes the loss. It is not the nature of the income and it is not where the company is registered. It is a missed date. That is why the distribution decision and the transfer plan have to be built around the filing calendar rather than settled afterwards.

Read the full article: You Earned It Abroad. How Do You Bring It Into Turkey? →