In addition to our Circular No. 88 concerning the re-determination of certain amounts stipulated in the Income Tax Law and the income tax withholding rates, our explanations regarding the amendment introduced in the Income Tax General Communique‚ Series No. 200, published in the Official Gazette dated 31.12.1996, numbered 22864, are provided below.
1
CONCERNED ARTICLE PROVISION INTRODUCED
SMALL FARMER EXEMPTION
Article 13 in the Income Tax Law The criterion for annual sales
for the applicability of
exemption on the agricultural
gains of the small farmer has
been increased to TL 864
Million, to be applied on the
revenues earned during
calendar year 1996.
EXEMPTION FOR
