298 NEWSLETTER 2021 originate from one principal, stamp tax is calculated on the one which constitutes the highest amount. Apart from this, with the amendment of Article 6 of the STL by Article 24/para.1‐b of the Law No.6728, if there is a penal clause, earnest money, forfeit money et cetera which are in the nature of a sanction of the agreement and stated on the same agreement, stamp tax will not be collected from such undertakings. However, if such undertakings are subject to separate documents, stamp tax will be collected from them. Current Rulings of the Turkish Revenue Administration Stamp tax regarding agreements that do not include a specific value other than a penalty clause Through the amendment of Article 6 of the STL by the Law No.6728, if there is an undertaking such as penal clause, earnest money, forfeit money et cetera which are in the nature of a sanction of the agreement and stated on the same agreement, stamp tax will not be collected from such undertakings. However, if such undertakings are subject to separate documents stamp tax will be collected from such undertakings. In regard to the application of the stamp tax exemption, contracts that do not include any value other than a penal clause have caused a lot of discussions in terms of their stamp tax application. However, a ruling of the Sakarya Tax Office dated 12.08.2020 and numbered 289211[2] stated that documents not containing a certain amount of money apart from a penal clause should not be subject to the stamp tax. 1 [1] https://www.gib.gov.tr/node/152719/pdf [2] https://www.gib.gov.tr/node/150783/pdf For another similar ruling: https://www.gib.gov.tr/node/140609/pdf
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