Today, rapid developments in information-communication and financial technology have enabled us to make significant progress in electronic document applications. These advances stand out by increasing taxpayers' business processes, payment and collection processes, efficiency in the creation, transmission and storage of documents issued to customers, cost advantage, ease of transaction and ease of effective analysis and audit. In this context, the introduction of new applications to taxpayers brings about an important development in the business world.
Impact of New Technological Developments
Banks, electronic money institutions and payment institutions are taking important steps towards offering solutions in line with the developing technology. These solutions are easy to use, highly mobile and low-cost alternatives that minimise the need for physical/classical collection tools (physical POS devices). This transformation enables businesses to carry out goods and service sales transactions and collections for these transactions in a more secure manner.
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Innovation in Tax Legislation: VUK 507
The Tax Procedure Law communiqué numbered 507, which entered into force on 1 September 2019, introduced the "Secure Mobile Payment and Electronic Document Management System". This communiqué contains important regulations regarding the sales, payment / collection transactions carried out through financial institutions, payment recorder device manufacturers and special integrator organisations and the processes of creating, transmitting, maintaining and submitting financial documents related to these transactions as electronic documents.
What is Secure Mobile Payment and Electronic Document Management System?
Secure Mobile Payment and Electronic Document Management System (GMÖEBYS) is a system carried out jointly by financial institutions, payment recording device manufacturers and special integrator organisations. This system refers to a structure established by the Ministry of Treasury and Finance and functioning in accordance with the specified standards. GMÖEBYS has a framework covering the processes of creating, transmitting, maintaining and submitting financial documents related to sales, payment and collection transactions in electronic format.
Advantages of GMÖEBYS
Security: Electronic documents are stored securely, providing protection against unauthorised access.
Speed and Efficiency: Transactions are carried out quickly in electronic environment, which accelerates business processes and increases efficiency.
Digital Transformation: GMÖEBYS helps businesses adapt to the digital transformation process and reduces the use of paper.
Ease of Audit: Maintaining electronic documents facilitates audit processes and provides a more effective and transparent audit environment.
Secure Mobile Payment and Electronic Document Management System represents an important step towards digitalisation and secure payment methods for businesses, which improves business processes and provides taxpayers with a modern, effective solution.
What is the Scope of VUK 507?
Communiqué No. 507 of the Tax Procedure Law is called "Secure Mobile Payment and Electronic Document Management System". This communiqué includes certain regulations and its scope is explained in detail below:
Secure Mobile Payment
TPL 507 focuses on sales, payment and collection transactions conducted through financial institutions, payment recording device manufacturers and special integrator organisations. In this context, the development and use of secure mobile payment systems are encouraged.
Electronic Document Management System
The Communiqué regulates the processes of creating, transmitting, maintaining and submitting financial documents related to sales, payment and collection transactions of enterprises as electronic documents. The electronic document management system includes transactions carried out in accordance with the specified procedures and principles.
Cooperation with Financial Institutions and Producers
Under TPL 507, cooperation between financial institutions and payment recording device manufacturers is encouraged. Thanks to this co-operation, secure payment systems and effective document management solutions can be developed.
Special Integrator Organisations
Private integrator organisations have an important role in developing solutions in accordance with the procedures and principles set out in the Communiqué. These institutions offer solutions to optimise electronic document management in cooperation with financial institutions and payment recorder device manufacturers.
Electronic Document Creation and Transmission
The Communiqué regulates the electronic document creation and transmission processes for sales, payment and collection transactions of enterprises. These regulations allow the transactions to be carried out in a fast, secure and effective manner.
Preservation and Presentation Facilities
VUK 507 determines the processes of preservation and submission of electronic documents. Preservation and submission procedures carried out in accordance with the specified standards help businesses to ensure document security and facilitate audit processes.
