- February 1, 2021
- Posted by: admin
- Category: Blog
One of the main concerns of the investors planning to open a company in Turkey is tax. Therefore, the invoicing procedures are very important. In this article we will focus on invoicing in Turkey.
In this article we will only analyse types of the invoices for transaction purpose. Let’s start;
Sales Invoicing in Turkey
They are invoices that a company issues to its customers to document the product or service it sells. Since, the company must legalize each transaction. Therefore, the company in Turkey shall declare the information such as the type, name, quantity, unit sales price, and total price of the goods in a sales.
Additionally, the below items shall be on the invoice;
- Issue date of the invoice, serial and order number
- The name of the invoice issuer, trade name, business address, tax office and account number
- Customer’s name, trade name, address, tax office and account number (if any)
- The type, quantity, price and amount of the good or work
- Delivery date and waybill number of the sold goods
The document that has the value of both the delivery note and the sales invoice is called a Waybill Invoice.
Which information shall include to waybill invoice;
- “Waybill Invoice” phrase
- Ministry of Finance stereotype or notarization
- Name, trade name, business address, tax office and account number of the issuer of waybill invoice
- The type, quantity, price and amount of the good and service
- Where and to whom the goods are sent; customer’s name, trade name, address, tax office and account number
Serial and several sequence numbers of the waybill invoice
- Issue date and time of the waybill invoice
- Signature of the issuer of the waybill invoice
Proforma Invoice in Turkey
There is no regulation regarding “Proforma Invoice” in Commercial and Tax Law of Turkey. Therefore, proforma invoice in Turkey is a proposal invoice and does not cause any financial liability. The seller sends to the buyer how much he wants to sell the service or product for a fee. Neither shipment of goods nor payment is made against proforma invoice.
Each company can issue the Proforma invoice according to their needs. However, if an issuer use the term Proforma on the invoice such invoice does not create any responsibility.
Information that should and can be found in the proforma invoice in Turkey:
- “Proforma Invoice” phrase
- Date of invoice
- Type of goods / services
- Name / title, addresses of the seller and the buyer
- Payment method
- Origin of goods
- Delivery method
- Unit price / quantity / amount of the good or service
- Weight, size, quantity of goods
- Form of shipment
- Packaging features, number, etc. for the goods. detail descriptions
- Freight and insurance premium amounts
- Organizer signature
Return Invoicing in Turkey
A return invoice is an invoice you can use in the event that a buyer return the product. Therefore, with the return invoice, it is possible to return the entire product. Additionally, you may partly return the invoice.
The elements to consider when return invoicing Turkey:
- In a visible place of the invoice, you should state the phrase ‘it is the return invoice’
- The return invoicing cob and sales invoice cob is the same
- The serial number on the invoice from the seller shall include on return invoce
- The customer or buyer cannot make profit over return invoice therefore the invoice amount shall not increase the sales invoice value
In this article you can find brief information on the types of invoicing in Turkey. However, the classification we used in this article is only transaction purpose. Therefore, in the future we will update you about the other categories.