Trends 13th Edition 2022
Welcome to the 13th edition of Sovos’ annual Trends report where we put a spotlight on current and near-term legal requirements across regions and VAT compliance domains.
Region: Turkey
Turkey: The Turkish Revenue Authority (TRA) published two announcements
TRA published an announcement which provides updates on the UBL-TR Guide and E-Fatura package on 25 November 2021. According to the announcement; A new code
Turkey Expands Scope of E-Documents
The Turkish Revenue Administration (TRA) published a Draft Communique that includes significant changes to the Tax Procedure Law General Communique No. 509, which initially aimed
Electronic Invoicing
Turkey Expands Scope of E-Documents
The Turkish Revenue Administration (TRA) published a Draft Communique that includes significant changes to the Tax Procedure Law General Communique No. 509, which initially aimed
Turkey: e-Foreign Exchange Receipt Technical Guideline Published
The Turkish Revenue Administration (TRA) published a technical guideline about the e-foreign exchange receipt. The e-Foreign exchange receipt is the electronic version of foreign exchange
News
With Plans to Expand European Product Development, Sovos to Make 2nd Acquisition in Turkey
Updated January 5, 2022: Sovos has completed the acquisition of Istanbul-based Digital Planet. When Sovos acquired Istanbul-based Foriba two years ago, we saw it as
News
G20 Ministers Agree to Move Forward with Global Tax Reform Deal
In the “Statement on a Two-Pillar Solution to Address the Tax Challenges Arising From the Digitalization of the Economy” issued on 1 July 2021, members
Electronic Invoicing
Latest Updates in E-Documents: Impact of Acceleration in E-Transformation Applications on E-Documents
Turkey’s e-transformation journey, which started in 2010, became more systematic in 2012. This process first launched with the introduction of e-ledgers on 1 Jan 2012
Electronic Invoicing
Why Companies Operating in Turkey Should Outsource Their Tax Compliance Processes
In the digital age we live in, speed is essential. For companies wanting to compete on a global scale, acting fast is just as important
Turkey: New Requirement to Notify the TRA about Objection Requests
The Turkish Revenue Administration (TRA) has published updated guidelines on the cancellation and objection of e-fatura and e-arsiv invoices. Two different guidelines are updated: the
Electronic Invoicing
Turkey: New Requirement to Notify the TRA About Objection Requests
The Turkish Revenue Administration (TRA) has published updated guidelines on the cancellation and objection of e-fatura and e-arsiv invoice. Two different guidelines are updated: guidelines
Value Added Tax
The VAT Evolution and Why It’s So Complex Part I: Thinking Globally
To understand why there is an ongoing evolution in the managing and administration of value added taxes (VAT), it is important to first understand the
Value Added Tax
The VAT Evolution and Why It’s So Complex Part II: Three Focus Areas for VAT
In Part I of our series on the VAT Evolution, we explored the motivations of tax authorities and governments around the world to embrace digitization
Value Added Tax
The VAT Evolution and Why It’s So Complex Part III: Why Global Solutions Matter to IT
In Part I of our series on the VAT Evolution, we explored the motivations of tax authorities and governments around the world to embrace digitization
Electronic Invoicing
Mandatory Transition to E-Invoice and E-Arşiv Invoice Applications for Healthcare Organisations in Turkey
An amendment in the General Communiqué No. 509 has announced healthcare service providers and taxpayers providing medical supplies and medicines or active substances must use
Electronic Invoicing
Turkey: The Significance of Effective E-Transformation for Enterprises
Digitization has become more prevalent, especially because of COVID-19. Companies looking to improve efficiency via digital transformation are taking advantage of the benefits tax technologies
Value Added Tax
How to Manage E-Transformation Projects When Deadlines are Set by Government Agencies
When managing any e-transformation project the deadline is determined after careful planning. It should be based on the project scope and consider the available resources.
Electronic Invoicing
Turkish Revenue Authority Publishes New Rules for e-Documents
Back in July 2020, the Turkish Revenue Authority (TRA) published a Draft Communique including several amendments to existing e-document regulations. Very recently, on 9 February