Tomorrow is the Last Day for Tax Declaration in Commercial Earnings

Tomorrow is the Last Day for Tax Declaration in Commercial Earnings

Tomorrow is the deadline tomorrow for taxpayers, whose income is determined in a simple manner, to submit an annual income tax return for their 2019 earnings. While the income taxpayers who are taxed in the real procedure start their annual income tax declaration for 2019, the deadline for taxpayers whose income is made up of commercial earnings determined in a simple manner will expire tomorrow. For the income taxpayers, the period of the declaration is in motion. Accordingly, the time allowed for taxpayers, whose income only consists of simple earnings, to submit annual income tax returns for 2019 earnings, will end tomorrow. In simple taxpayers, conditions such as working in their own business, not being subject to income tax in real procedure due to commercial, agricultural or professional activities are sought. Taxpayers will submit their declarations through the Notebook-Declaration System. Income tax to be calculated on the returns will be collected in two equal installments. The first installment will be paid within the deadline of filing, and the second installment will be paid on June 1-30. In case there is another income item subject to declaration besides the commercial income determined in simple procedure, the income tax return for the 2019 earnings will be submitted in March. Income tax to be calculated on the statement will be paid in two equal installments in March and July. Meanwhile, the service members who earn other wage income will have to make their tax assessment and accrual transactions until the end of the day tomorrow. ANNUAL INCOME TAX DECLARATION PERIOD HAS STARTED On the other hand, the period of declaration started for taxpayers who are taxed in real procedure due to their commercial, agricultural and professional activities. Taxpayers will send their annual income tax returns for 2019 electronically until the end of Tuesday, March 31. Only taxpayers, whose income is composed of one or more of the rent, wages, securities, or other earnings and gains, will be able to issue their declarations 24 hours a day, 7 days a week. Income tax calculated on the statements to be given last year's earnings will be paid in two equal installments in March and July. The first installment will have to be paid by stamp tax by 31 March and the second installment by August 4. Tax payments can be made from contracted banks and all tax offices.