eFinans expands services to top Turkish soccer teams

eFinans has recently added another top Turkish sports club Fenerbahce SK to its other customers in the Turkish Super League Trabzonspor and Galatasaray SK.

The Turkish Revenue Authority‘s (TRA) Communiqué 454 (text in Turkish) has been published in the Prime Ministry’s Official Gazette #29392, dated 20 June 2015. The communiqué enforces any Turkish company with TRY 10 million gross sales turnover as at 2014 year end, to use e-invoicing latest by 01 January 2016. TRA has marked 50273 users which meet this criteria  as of 02 March 2016.

Turkish e-Invoicing to expand in 2016

  • Trailing Obligations:
    Communiqué 454 enforces any company exceeding the TRY 10 mio criteria, at any accounting period to use e-invoicing in the next accounting period. The TRA notes that every accounting year another 5000 companies pass this mark. Once obliged to use e-invoicing, firms are not able to opt-out. (Opting-out may only be exercised if company has opted-in and is not obliged by any legislation to use e-invoicing at time of opting-out.)
  • E-bill: 
    The e-Bill communique 433 (officially called “e-archive” final amendment 443)  indirectly forces any company with TRY 5 mio gross sales turnover as at 2014 year end and with any amount of sales or order/reservation receipts over the internet, to use e-Billing & e-Invoice together. e-Bill users currently stands at 3109, but many companies will be joining in May as per market talks.
    Communiqué 461 enforces any company exceeding the TRY 5 mio at any accounting period and with any amount of sales or order/reservation receipts over the internet, to use e-Billing & e-Invoice together in the next accounting period.

Quickest Way to Get Onboard: eFinans

eFinans currently is integrated with over 100+ ERP/BPM/financial software providers. This enables eFinans to serve more than 80% of all these companies with full integration with 100% tax-compliance. 10+ software companies are on testing phase. A full list of eFinans partners is available at www.efinans.com.tr/en/company/business-associates.

The only working and legal e-invoice financing opportunity

In a competitive environment of non-bank and bank-internal E-Invoice providers in Turkey, eFinans enjoys a prestigious place as the first service provider with the ability to offer e-Invoice financing, thanks to its hybrid share structure. eFinans currently offers e-Invoice discounting and collateralisation of e-Invoices for various loan types.

eFinans clients can integrate their e-Invoice flow into banking via eFinans portal itself, eFinans mobile applications and its sister system Finance Star that integrates directly Finansbank’s banking system. More banks and factoring companies are developing integrations with eFinans to extend loans via eFinans.

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