What are "small and micro entities"?
Natural and legal person merchants meeting at least two of the following criteria — total assets of TRY 3.5 million or more, annual net sales of TRY 7 million or more and an average number of employees of 10 or more — will be treated as small entities in the following reporting period, and those not meeting these criteria as micro entities.
In determining these criteria, the annual financial statements submitted to tax offices under tax legislation will be taken into account. Entities leaving the scope of independent audit will use their audited financial statements to determine whether they are small or micro entities.
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