What is Stock?
A share is a share representing the number of shares of a shareholder in the company’s capital in a company and its nominal value in Turkish Liras (TL).
There are two types of share certificates,
Bearer written stock certificate
Registered stock certificate
New Turkish Commercial Code (YTK, Article 484) A share certificate can not be issued for unpaid shares. If withdrawn, it becomes null and void because a person with a Bearer Share Shareholding is considered to be a shareholder of that company. In other words, a company that has not paid all of its capital has to issue a NAMING WRITTEN share.
If the shares are bearer-printed, the Board of Directors will print the share certificates and distribute them to the shareholders within three months from the date of payment of the full share price. Mad 486 (3)
In share certificates written in Nama, the name and surname of shareholder or trade name and address must be disclosed. (Mad.488).
If it turns into a limited company reprinting stock, income tax, stamp tax and mortgage can not be paid.
In addition, the transfer process does not need to be done in the Notary.
The shareholder of an Affiliate that represses Stock Share is not able to pay Revenue Tax and VAT if he sells after 2 years from the date on which he / she acquires shares that are owned.
Prof. dr. KIZILOT;
“If you have stock, you do not have Value-added tax and VAT …”
Prof. of Turkey’s leading economists. Dr. Şükrü Kizilot recalled that the earnings from the Sale of Shares of Joint Stock Companies, which are not shares, are subject to both taxation and VAT. (GVK article 80/4 – VAT Law article 17/4-g)
In particular, Professor of Finance, whose views on taxes are carefully monitored. Kizilot stated that the former name of SHARE STOCK would be exempt from VAT not only from Value Increase Tax but also from shareholders of the new name “SHARE STOCK”.
We are publishing the DR. Kizilot “Professor of Economics” speech’s, who explains the views of TEB KOBI TV.