The definition of SME was changed.

The regulation on the definition, qualification and classification of small and medium-sized companies was replaced by the regulation of SMEs published today in the Official Gazette.

With the regulation, the definitions of SMEs were also rearranged. In this context, balance thresholds; It was increased from 5 million TL to 10 million TL to be considered a micro company, from 50 million TL to 100 million TL to be considered a small company, and from 250 million TL to 500 million TL to be considered a medium-sized company. .

There were no changes to company employment thresholds. The business classes will be determined with the data of the last accounting period. These data will be based on the closing of the month in which corporate taxpayers and income taxpayers file their returns.

CRITERIA HAVE BEEN DETERMINED FOR TYPES OF SMEs

With the regulation, the criteria for the types of SME businesses were also reordered.

Consequently, a company will be considered as an independent company if it does not own 25 percent or more of the capital of a single company. Companies of natural persons will be included in this category.

A company will be considered a joint venture if it owns 25 percent or more and 50 percent or less of the capital of another company, either alone or jointly with its subsidiaries.

If a company, alone or together with its subsidiaries, owns the majority of the capital of another company, it will be considered a subsidiary if it owns the majority of its capital, either alone or jointly with its subsidiaries.

Regarded as an independent company; 25 percent of its capital from companies other than universities, research centers, qualified investors from associations and foundations and institutional investors, crowdfunding platforms, municipalities with a budget of less than TL 25 million and a population of less than 5 thousand , village legal entities, companies, capital companies or investment funds, those that are under the control of one or more public institutions, the excess of which is under their control, will not be considered SMEs. (Reuters)