Irregularities are divided into first and second degree; penalty amounts differ by taxpayer group and are updated each year by the revaluation rate. Failing to file returns on time and failing to have books certified are typical examples.
Source: Tax Procedure Law No. 213 Art. 352
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Special irregularity penaltyA penalty imposed for specifically listed acts such as failing to issue or obtain invoices and similar documents or breaching record-keeping rules.Tax loss penaltyA penalty imposed when tax is under-assessed because the taxpayer failed to fulfil tax obligations on time or fulfilled them incompletely.Advance taxTax paid in advance during the year by income and corporate taxpayers, in quarterly periods, on current-period earnings.Arm's length principleThe principle that transactions between related persons should be carried out at the prices and on the terms that would apply between independent parties with no such relationship.Capital gainGains of individuals from disposing of certain assets and rights that are subject to income tax.Certified public accountant (SMMM)A professional authorised to keep taxpayers' books, prepare their financial statements and advise on accounting and tax matters.
Last updated: October 22, 2026 · This definition is for general information only.