Digitization of ledgers: obligation or opportunity?
Turkey introduced e-ledger in 2011 to record financial transactions and enable electronic audits. The e-ledger mandate enables the storage and electronic transmission of ledger information to meet legal and technical requirements of the Turkish Commercial Law and the electronic file standards and format specified by the Turkish Revenue Administration (TRA). To comply with the regulations, businesses operating in Turkey must implement e-ledger solutions before January 2021.
Can you keep and send ledger information digitally?
According to the General Communique on the Tax Procedure Law (Communique), from January 2021, e-ledger will be mandatory for taxpayers with a gross sales revenue of TRY 5 million or above in 2018 or subsequent fiscal years.