Our company made profit in 2017. How to calculate contingency reserves, dividends etc. when distributing the profit partially in 2018?
It is possible to distribute the profit partially. Contingency reserves mentioned in Turkish Commercial Code are allocated. 15% of income tax is withheld during profit distribution. Real persons file an ‘Income From Moveable Capitals Declaration’ accordance with Article 22 and 86 of Income Tax Law. Please benefit from articles and calculation examples about this subject. Detailed statements with examples on this subject are not made.
Source: İSMMMO
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