Post by amina147 on Mar 7, 2024 4:34:47 GMT -6
The Official Gazette dated. the th provisional tax period will not be applied starting from so the said discount for and beyond will only be available during corporate tax declaration periods. On the other hand amounts that cannot be deducted in the relevant accounting period due to insufficient earnings may be subject to deduction in the provisional taxation periods of the following accounting periods. Capital companies within the scope of the special accounting period can benefit from the discount taking into account the commercial loan interest rate last announced by the CBRT as of the month in which their accounting period ends provided that they meet the conditions.
Companies benefiting from the discount must submit the bank account statement approved by the relevant bank showing that the capital has been actually deposited in cash into the company bank account to Austria Phone Numbers List the tax office to which they are affiliated within the corporate tax return filing period. In addition the companies in question must submit information regarding the amount they will deduct in the annex to their corporate tax return. CONCLUSION The application of interest deduction in cash capital increases provides advantages.
To businesses both in terms of encouraging the strengthening of capital structures of capital companies and in terms of tax deductibility of the amounts found as a result of the calculation to be made in the year in which the increase is made and in each subsequent period regarding the capital increased in cash. With this practice some of the costs and risks that capital companies will face as a result of debt financing from external sources are eliminated and businesses are encouraged to provide financing with equity capital from the said practice as long as capital companies increase their capital in cash in accordance with the regulations in the law and there is no subsequent capital decrease.
Companies benefiting from the discount must submit the bank account statement approved by the relevant bank showing that the capital has been actually deposited in cash into the company bank account to Austria Phone Numbers List the tax office to which they are affiliated within the corporate tax return filing period. In addition the companies in question must submit information regarding the amount they will deduct in the annex to their corporate tax return. CONCLUSION The application of interest deduction in cash capital increases provides advantages.
To businesses both in terms of encouraging the strengthening of capital structures of capital companies and in terms of tax deductibility of the amounts found as a result of the calculation to be made in the year in which the increase is made and in each subsequent period regarding the capital increased in cash. With this practice some of the costs and risks that capital companies will face as a result of debt financing from external sources are eliminated and businesses are encouraged to provide financing with equity capital from the said practice as long as capital companies increase their capital in cash in accordance with the regulations in the law and there is no subsequent capital decrease.