The the liabilities used by the taxpayers within the scope will not be considered as expenses and the said expenses will be considered as nondeductible expenses in Corporate Income Tax Return. On the other hand the definitions of equity and liabilities regarding the implementation are not clear the date of the comparison between equity and liabilities is not determined the application regarding the situations in which the maturity differences are within the amount to be paid or the application in the enterprises having financing income together with financing expense are not clear. Hence all these application related uncertainties raise hesitations regarding the subject.
In addition the investment statement has not been defined for the expenses and cost elements to be added to the investment cost excluding the Ecuador Mobile Number List expense limitation and it has not been determined whether the value added tax incurred due to expenses that will not be considered in the determination of the earnings will be deducted as an expense while determining nondeductible expenses within the framework of the financial expense restriction. The same provisions were included in the legal regulation which was the basis of implementation in previous years between and . Regarding the said issues following provisions were mentioned.
With the abrogated General Communiqu No. of the Corporate Income Tax Law the concept of investment was defined as an economic asset investment subject to any amortization with or without incentive certificate and With the abrogated General Communiqu No. of the Corporate Income Tax Law deduction of value added tax incurred due to expenses not considered in the determination of earnings as a nondeductible expense was deemed appropriate. In addition financing expenses were calculated without considering the financing incomes in enterprises having financing income together with financing expenses and this practice was approved by the Council of States Tax Law Offices. Although it is anticipated that similar approaches will be followed in the new application.