Tax & Finance
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What Happens to VAT When the Normal Wastage Rate Is Exceeded?
Loss within the normal wastage rate is not lost goods, so the VAT deduction stays in place. If the rate is exceeded, you correct only the excess. Example calculation and document checklist.
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Lost Goods or Impaired Goods? The Critical VAT Distinction
Physically destroyed goods and impaired goods have different VAT outcomes. When both occur in the same event, how should the stock be split? Explained with an example.
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We Informed Industry Representative Associations at Expomed Eurasia 2024 Fair
Between April 25–27, 2024, seminars and panels addressing current topics in the healthcare industry were held at the Expomed Eurasia 2024 Fair, which hosted the participation of more than 800 domestic and international companies. Chairman of the Board of Scrap Danışmanlık Inc., Merdan Altınöz, provided information to ARTED Chairman Serhan Acar and Secretary General Elif […]
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Paying Less Tax in 2024 Is Possible Through Inflation Adjustment
It is Possible to Pay Less Tax in 2024 Through Inflation Adjustment! In this article, we will address the inflation adjustment of disposable products recorded in inventory. According to the provisions of Tax Procedure Law No. 213, inventories are valued based on their cost value. Stocks purchased by companies in previous years are recorded at […]
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We Attended the 13th OHSAD Congress
The 13th OHSAD Congress, organized by the Association of Private Hospitals and Healthcare Institutions, was held at the Susesi Hotel in Antalya from December 6 to 10, 2023, under the theme “Joint Solution Meetings in Healthcare.” Mr. Merdan ALTINÖZ, Chairman of the Board of Scrap Danışmanlık Inc., gave a presentation to participants including Istanbul Provincial […]
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Don’t Overpay VAT in Your Disposal Process!
Did You Know You’re Overpaying VAT in Your Disposal Processes? As stated in the “VAT General Implementation Communiqué, Section III/C-2.4 – Input VAT on Expired or Unusable Goods,” the VAT incurred on the acquisition of goods held in inventory but which have expired or become unusable for other reasons, cannot be claimed as deductible VAT […]
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It Is Possible to Benefit from the Tax Advantage 165 Days Earlier
Did You Know That by Carrying Out Your Disposal Processes in September, You Can Benefit from the Tax Advantage 165 Days Earlier? In this article, we address the legislative changes introduced by Law No. 7338, which was published in the Official Gazette on October 26, 2021. This law removed the requirement for a fourth provisional […]
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Our Clients Achieved Significant Cost Advantages Through Disposal Reports
Our Clients Achieved Significant Cost Advantages Through Disposal Reports As is known, until August 2019, tax offices accepted expert reports only from public universities. To change this costly situation for our clients, Scrap Inc. General Manager Mr. Merdan Altınöz held a series of meetings with tax office officials. During these meetings, he used his expertise […]
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How to Benefit from the Advantages of Official Disposal?
By disposing of expired or quality-defective medicines, your company can gain tax advantages, use storage areas more efficiently, create safer environments in terms of environmental and occupational health, prevent time and labor losses, and ultimately ensure accurate reporting of financial data. BENEFIT FROM THE ADVANTAGES OF OFFICIAL DISPOSAL By disposing of expired or quality-defective medicines, […]
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Dispose and Clean Up Your Balance Sheet
Dispose and Clean Up Your Balance Sheet Just as the human body needs to detox from toxins that cause deterioration, company balance sheets also need to be cleared of the “toxins” that distort their structure. Continuing to keep goods that are no longer usable due to spoilage, decay, or expiration—or depreciable assets—in inventory not only […]
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Advantages of Disposal
WHAT ARE THE ADVANTAGES OF DISPOSAL? By disposing of expired or quality-deficient food products, your company can benefit from tax advantages, optimize warehouse space, create safer environments in terms of environmental and occupational health, prevent time and labor losses, and ultimately ensure that financial data is reported accurately. HOW IS THE DISPOSAL PROCESS CARRIED OUT? […]
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Official Disposal
It is crucial for companies that are planning to dispose of products to correctly complete the official disposal process. If the steps of the official disposal process are not followed properly, companies may fail to accurately cleanse their balance sheets and may not fully benefit from the tax advantages. There are numerous steps that must […]