Inspections Increased on Money Transfers Made via IBAN
The Ministry of Treasury and Finance and MASAK aim to prevent tax loss and legal risks by tightening receipt descriptions and audits on money transfers made via IBAN.
Within the scope of the fight against the unregistered economy, the Ministry of Treasury and Finance and the Financial Crimes Investigation Board (MASAK) have expanded audit mechanisms on money transfers carried out via IBAN. It is stated that leaving receipt descriptions blank or using misleading expressions can give rise to various legal and financial risks.
Audit Mechanisms and Automated Comparison
In audits conducted by the system, expressions included in receipts or blank fields are examined in detail. Regular payments with 'rent' written in their descriptions are automatically compared with the landlord's tax returns, and invitation for explanation letters are sent for undeclared income.
Concealment of Commercial Earnings and Legal Penalties
Writing expressions such as 'debt repayment' or 'deposit' in transfer descriptions to conceal commercial earnings or evade taxes is not sufficient to escape audits. Such transfers that are not documented with an official contract or promissory note are evaluated as unregistered sales.
Court of Cassation Decisions and Left Blank Descriptions
According to Court of Cassation decisions, transfers whose descriptions are left blank or contain random characters are legally accepted as the payment of an existing debt. This situation makes it difficult to claim legal rights if the money given as a debt cannot be recovered.
20-Character Rule and Suspicious Transaction Blockades
For money transfers above certain limits, a clear description of at least 20 characters is required. High-amount transfers that are inconsistent with a person's income profile are evaluated as suspicious transactions by banks.
Points to Consider to Prevent Loss of Rights
Experts recommend defining the nature of the transfer with clear expressions to prevent future grievances. It is emphasized that invoice numbers or contract details must be added to receipt descriptions in official and commercial payments.