Amendments to the General Communiqué on Electronic Ledgers (Serial No: 1)
The amendments to the General Communiqué on Electronic Ledgers (Serial No: 1) (Serial No: 5), published in the Official Gazette dated November 8, 2024, introduce important regulations related to electronic ledger applications. Below, we summarize these changes and their potential impacts:
- e-Ledger Obligation for Those Keeping Balance Sheet-Based Ledgers
(Effective from January 1, 2025)
- Taxpayers who are required to maintain ledgers based on the balance sheet method, as well as those who opt to do so voluntarily, will be subject to this e-Ledger obligation starting from January 1, 2025.
- New businesses, those changing classifications, and any other taxpayers transitioning to the balance sheet basis must comply with e-Ledger obligations in line with the specified dates.
- Requirements for Creating and Submitting e-Ledger and Certification Files
(Effective as of November 8, 2024)
- Income tax taxpayers are required to complete their e-Ledger and certification files by the 10th day of the fourth month following the relevant month, while other taxpayers (e.g. corporate income tax payers) must complete theirs by the 14th day of the fourth month.
- Taxpayers who wish may submit their e-Ledger filings on a provisional tax period basis within the specified deadlines. This option can be updated at the start of each fiscal period.
- For those who fail to adhere to their selected deadlines, penalties will be applied on a monthly basis.