Tax on Free Products for Social Media Content Creators: A New Era Begins

New Regulation for In-Kind Income This regulation aims to record in-kind income, which previously involved uncertainties during the declaration process, through its cash equivalent.
Under the new process, brands or service providers will determine the current market value (fair market value) of the product provided to the content creator and deposit this amount into the creator's specialized bank account.
Through this method, the economic value of physically sent products will be integrated into the official financial system.
Automatic Withholding System The foundation of the system is based on the deduction of tax at the source via banks.
A 15% income tax withholding will be automatically applied by the bank on the gross amount deposited into the content creator's account.
While the deducted tax is transferred directly to the tax office, the net amount will be made available for the content creator's use.
This ensures that the economic value of a product sent free of charge can be tracked through official records.
Declaration Exemptions and Limits As long as the total annual earnings of content creators do not exceed the determined exemption limit, there will be no need to file an additional annual tax return.
This application aims to digitalize tax processes for both brands and content creators while preventing informal economic activity.