Our company is doing construcion and repair works through a domestic company. We have various clean expenses of our construction work abroad.
Is it possible to make a discount on these expenses?
If so, at what rate and how can we write expenses?
Deductible Expenses – Income Tax Law Article 40
It is accepted that the expenses below are deducted so as to determine the net profit.
1.General expenses that are made to earn and maintain business income;
(taxpayers who perform export and construction, repair, installation, transportation jobs abroad may, in addition to the expenses referred in this paragraph and providing that they do not exceed one fifth of the income made in dollars from these jobs, deduct the expenses they calculated as lump sum in return to their expenses related to the jobs above.
Source: İSMMMO
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