Recent changes to fishery checks have been approved that could profoundly affect how taxes are calculated for business owners. Information from banking transactions and deposits into business accounts in previous years has been recognized as one of the main bases for assessing taxpayers' financial performance. However, given the importance of checks in economic transactions, information from received fishery checks will now also be considered in the performance tax calculation process.
Impact on Tax Transparency
With the addition of fishery check information, the tax authority can create better alignment between information regarding taxpayers' financial flows and other financial data. This change not only helps improve the monitoring of financial flows but can also reduce reliance on a specific payment tool in estimating economic activity. In fact, checks play an important role as a valid payment tool in business transactions, and failing to consider them creates an incomplete picture of the actual volume of economic activities.
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Challenges and Opportunities
Although the inclusion of fishery check information in tax calculations can help cover information gaps, it is important to note that the amount of the received check does not necessarily equate to the taxpayer's income or profit. Checks may be issued for settling debts, purchasing raw materials, or other financial transactions. Therefore, distinguishing actual income from other financial movements and preventing the repeated calculation of amounts is very important.
Paragraph 100 of the Direct Taxation Law also helps determine fixed taxes for some eligible business owners and may be affected by the new changes. However, the addition of fishery check information to tax calculations does not mean a definite increase in taxes for all taxpayers, and its impact depends on how calculations are made, the nature of transactions, and other financial information of each taxpayer.
From a tax justice perspective, this change can also help in more accurately identifying taxpayers' economic activities and reduce the differences between payment methods in tax calculations, provided that check information is correctly matched with other data and amounts that do not have income nature are not considered taxable income.
Taxpayers subject to these changes should note that the forms related to Paragraph 100 for the performance of the year 1404 must be completed by November 15. In this regard, reviewing the information and determined taxes considering the changes applied to the used data is of special importance.
Ultimately, the effectiveness of this change depends on the executive details of the tax authority, how the information from received checks is calculated, and the possibility of reviewing and correcting any potential discrepancies. With these changes, it is hoped that a more accurate picture of taxpayers' economic activities will be presented and tax justice will be better observed.
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