Turkey extends implementation of electronic invoices

The roll out deadline for Turkish electronic VAT invoices has been delayed until 1 April 2014 due to continuing teething problems.  Until this date, tax registered persons may continue to use paper-based invoices if they wish.

The original edict (Tax Procedural Law Communiqué No.421) for the implementation of Turkey VAT e-invoices was issued last year with a target date of 31 December 2013.  This contained rules on VAT compliance and accounting relating to the new regime.  This includes:

• Maintaining supporting accounting bookkeeping electronically from 2015 at the latest on approved software, or may seeking approval from the tax office for bespoke platforms.
• Companies must apply secure digital signatures to their invoices
• Companies may maintain electronic archives of invoices
• Special electronic bookkeeping regime for the tobacco, oil, gas and LPG industries, conforming to standard government formats
• Records to be maintained include: sales invoices, purchase invoices, inventories, production records as well as import/export details

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