Previously, we have focused on stamp tax implementations accrued from original copies and ordinary copies of documents especially concluded by merchants under the circular of Ministry of Finance, Revenue Administration dated 30.03.2013, numbered DV-19/2010-1. Since a new Law numbered 6728 entered into force on 9/8/2016 in order to improve investment environment, here below we will focus on amendments in Stamp Tax Law, essentially the amendments concerning the actors of commercial life.

The first sentence of Article 5/1 titled ‘’More Than One Copy of the Documents’’ of Stamp Tax Law has been amended by the Law numbered 6728. As per the mentioned amendment, only one copy of documents shall be subject to relative stamp tax even if such documents have been issued multiple copies. Nonetheless, implementation regarding accrue of fixed stamp tax to each separate copy of documents is still in force. In terms of stamp tax implementation, the new regulation seems relieving for tax payers who hesitate to issue multiple original copies instead of ordinary copies of documents in practice. Thus, tax payers shall not hesitate to issue multiple copies of documents which subject to relative stamp tax in terms of stamp tax costs. Since the new Law does not foresees any amendment regarding ordinary copies of documents, ordinary copies which subject to fixed stamp tax shall continue to be taxed as Fixed Tax.

Pursuant to the new version of the Article 6/3 titled ‘’More Than One Agreement and Transaction In a Document’’ of Stamp Tax Law which amended by the new Law numbered 6728, in case there are more than one ordinary guaranty or several and joint guaranty commitment in a document, only one of the guarantees shall be subject to stamp tax instead of calculating stamp tax for each guaranty commitment separately.

Previously, stamp tax was being accrued over the transaction with the highest amount in an agreement.  Pursuant to the new paragraph added to the Article 6 of Stamp Tax Law,  stamp tax shall not be accrued over the commitments which are regulated as a sanction of an agreement, such as forfeiture, retention, penalty clause, etc., unless such undertakings are subject matter of the agreement. In other words, abovementioned commitments shall not be considered in determination of the highest amount to be subject to taxation, unless such monetary penalties are subject matter of the agreement.

Pursuant to the new version of Article 14/2 of Stamp Tax Law amended by new Law Numbered 6728, any increased amount shall not be again subject to stamp tax for the agreements which had already been subjected to stamp tax that calculated over the maximum amount stipulated within the Agreement.

Consequently, though the scope of the papers which shall be subject to Stamp Tax Law is extended by the new Law numbered 6728, new tax exemptions and annul of the implementation regarding taxation of multiple copies of the documents provide leeway for taxpayers.