329 TAX LAW • The total earnings of the taxpayer (the amount found after deducting expenses from revenue) within the scope of the regulation shall not exceed the amount in the fourth bracket of the income tax table included in Article 103 of the ITL. (It is TL 880.000 for 2022.) Under the new law, the following taxpayers cannot benefit from this exemption and their earnings are taxed according to the commercial income provisions: • Taxpayers whose earnings exceed the determined amount in the fourth bracket of the income tax table, • Taxpayers who do not collect all their revenue related to these activities through a dedicated account. Assuming that these exemption conditions are not met, the tax accrued incompletely will be collected together with the default interest and the tax loss penalty. Withholding Liability of Banks According to the repetitive Article 20/B of the ITL, banks have the liability to withhold tax of 15% as of the date of receipt, on the revenue received from the accounts opened by content producers. In this context, banks will be liable to declare the withholding tax with a withholding tax return according to Article 98 of the ITL, and to deposit these taxes with the relevant tax office under Article 119 of the ITL. In addition, the president has been authorized to re-determine the withholding tax rate by reducing the withholding rate to zero and increasing it up to onefold. All of the earnings of the taxpayers who cannot benefit from the exemption are taxed according to commercial income provisions, and these taxpayers pay their taxes according to a progressive tariff by submitting an annual income tax return. Taxes withheld by banks are deducted from the income tax to be calculated on these income tax
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