ANONİM ŞİRKETLERDE SERMAYE AZALTILMASI İŞLEMLERİ VE VERGİ İLİŞKİSİ
THE TRANSACTIONS OF CAPITAL REDUCTION IN JOINT STOCK COMPANIES AND ITS TAXATION

Summary/Abstract: The joint stock companies are grow usually their after established and therefore often go to capital increase. Capital increase, occurs by adding the period profit to the capital or by to corporate adding new resources by the partners. The companies divide and multiply when they reach a certain size. Companies make a capital reducing due to the division. They may also resort to this capital reduction way for many other reasons. It is obligatory to keep it in company assets while the capital is reduced, enough assets to meet the rights of creditors. Does not arise situations that require taxation at the end of each capital reduction. No taxation is required if the company's losses of the past years are eliminated by distributing them to the partners. No tax is charged if capital reduction is done when the capital put into the establishment of the company is too much for the work done over time. Taxable situations arise if the profits used in capital increase and not taxed for various reasons are then distributed to the partners by capital reduction. Corporate tax and income tax liability arises at capital reductions that require taxation. A value added tax liability arises if the reduced capital is paid to the partners as goods rather than cash.

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