We would like to touch on this issue, which is a very critical issue for companies operating in technoparks and earning more than a certain amount of income, but which can be forgotten in the intense rush at the end of the year, and which, unfortunately, can cause an irreversible and high tax problem to be paid when forgotten.

Transfer to Venture Capital Fund

If the transfer to the Venture Capital Fund is explained in the simplest way; It can be defined as an arrangement that provides resource transfer to companies that have been operating with high transactions for a long time and to start-up and promising companies.

If You have a company in Technopark;

• If this company paid less tax in 2021 by benefiting from the income exemption of at least 1,000,000 TL to the technopark tax advantages.

• The amount of 2% of the mentioned income;

• Until the end of 2022, you must purchase the shares of the Venture Capital Investment Fund established to invest in entrepreneurs residing in Turkey, or invest it as capital for other entrepreneurs operating in Venture Capital Investment Trusts or incubation centers within the scope of Law No. 4691.

What Happens If This Action Is Not Taken?

The subject is a very technical one, calculations etc. There are procedures to be followed, but as a summary, if you forget, you will have to pay a lot of extra taxes. The legislation is as follows:

If the said amount is not transferred until the end of the relevant year, twenty percent of the earnings exempted from the annual declaration within the scope of this Law cannot be subject to the income and corporate tax exemption utilized in the relevant year.

How is it done?

1- If the Earnings Exception Amount in the Year 2021 is over 1 million TL, proceed to the 2nd article.

2- It is necessary to confirm whether the necessary accounting records are made or not.

3-Afterwards, investment can be made in a company in the above-mentioned mutual fund, investment partnership or incubation center. The most practical one may be to work with banks’ Venture Capital Investment Trusts.

Sources:

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