in public ‘social media tax’ The tax law regulation, which is referred to as the “Official Gazette”, entered into force after being published in the Official Gazette. The regulation, which was submitted to the Turkish Grand National Assembly following the start of the new legislative period, was adopted on 14 October. As of today, it has officially become a part of our lives.
A 15 percent withholding tax will be deducted from citizens and mobile application developers who generate income through social networks such as YouTube. According to the law, the tax directly from the main source i.e. bank accounts will be taken. Also, these people exempt from income tax they will be held.
New statement from the USA against Turkey’s digital service tax!
Authorities reiterated their demand for ‘removal’ for the Digital Service Tax imposed by countries including Turkey.
Phenomenon described as ‘social content generator’
colloquially Influencer, YouTuber, phenomenon etc. persons identified by names within the scope of Law No. 7338 ‘social content creator’ under the heading. To come after the 20th article of the Law No. 193 “Earnings exception in social content production and app development for mobile devices” item added.
The income tax exemption for these individuals was explained as follows:
“Through social network providers on the Internet social content producers who share content such as text, images, audio, video Earnings from these activities and those who develop applications for mobile devices such as smartphones or tablets, through electronic application sharing and sales platforms, are exempt from income tax.
For social content producers and mobile app developers to take advantage of the specified exception They need to open an account in banks established in Turkey. It is also obligatory to collect all revenue related to income activities exclusively through this account.
The tax deduction will be made directly through the bank. According to the Law; as of the date of transfer, over the amount of revenue transferred to the accounts opened in this context. withholding 15 percent income tax and is obliged to declare and pay in accordance with Articles 98 and 119 of the Law.
It covers those under 640 thousand TL
15 percent withholding tax and income tax exemption, earnings less than 640 thousand TL It includes social content producers and mobile app developers. Those who earn more than 640 thousand TL cannot benefit from this law.
What do you think about the social media tax? Should social media influencers be taxed? Do not forget to express your thoughts in the comments.