• Buying Process

    Inland Revenue published the Income Tax Rates and Income Bands for the year 2016 together with personal allowances.As it can be seen from the new tax tables,the tax rates and income bands have not been subjected to any change as compared to 2015.The noticable change has been the increase of yearly personal allowance from TL 16.884 (2015) to TL 17.500 (2016).You can find all the information regarding tax rates ,income bands and allowances in the Tax Section.

    Stamp Duty Notification issued under the TRNC Stamp Duty Law has been amended and the amended version will be applied as from 1 February 2016.The major stamp duties under this Notification are applicable in 2016 given below with 2015 comparatives.

2016 2015
Undertakings and Commitments TL 11,20 TL 10,50
Agreements
1. Amounts below TL 12.900.000 0,05% 0,05%
2. Amounts above TL 12.900.000 0,01% 0,01%
Rent Agreements
1. Amounts below TL 12.900.000 0,05% 0,05%
2. Amounts above TL 12.900.000 0,05% 0,05%
Power of Attorney TL 0,10 TL 0,10
Bill of Exchange Other than Letter of
Credit or Cheque TL 0,10 TL 0,10
Promissory Note
1. Amounts below TL 12.900.000 0,05% 0,05%
2. Amount above TL 12.900.000 0,01% 0,01%
Cheques TL 0,10 TL 0,10
Charter Party Agreements TL 52,50 TL 49,20
Registration of Companies:
Memorandum of Association TL 101 TL 82
Articles of Association TL 101 TL 82
Duty Payable on authorised share capital 0,05% 0,05%
Duty on Authorised share capital of companies which are given incentives under 47/20 Incentive Law 0,01% 0,01%
Letter of Credits:
1. Amounts below TL 12.900.000 0,05% 0,05%
2. Amounts above TL 12.900.000 0,01% 0,01%
Letter of Credits 0,01% 0,01%
Insurance Polices Exempt Exempt
Bonds:
1. Amounts below TL 12.900.000 0,05% 0,05%
2. Amonts above TL 12.900.000 0,01% 0,01%
Invoices, Receipst, Payment Vochers
Invoices, Receipst, Payment Vochers above TL 62 TL 0,10 TL 0,10