Turkish e-Invoice users rises to 46000+ top companies

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 approximately 27000 companies to meet this criteria which will join the 19824 users as of 20 June 2015.

Further expansions by other communiqués:

  • 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-Invoice users may increase by 5000 by 01 January 2015.
  • Trailing Obligations:
    Communiqué 454 enforces any company exceeding the TRY 10 mio criteria, at any accounting period to use e-invoicing within the next 3 months.
  • E-invoicing in 2016:
    Another e-Invoice expansion communiqué is expected to take the turnover criteria down to TRY 5 million. 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.)

Quickest way to get onboard, eFinans:

eFinans currently is integrated with over 70 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

Sole legal financing opportunity in Turkey for e-Invoice users

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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