How is currency difference accounted for foreign tourists?

Using the exchange rate of the collection day in TL equivalent. The exchange difference is processed as income/expense.

VAT on no-show refunds?

Revenue not refunded remains as income and is included in the VAT declaration.

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Tour Operator Accounting: Advance, Commission, and VAT Guide

Accounting guide for tour operators: receiving advances, invoicing agency commissions, and package tour VAT implementation.

By Smartur Ekibi · April 20, 2026 · 7 min read

Tour operator accounting is distinct due to the special VAT implementation for package tours and the complexity of agency commissions. This guide explains the general framework; consult your financial advisor for details.

Receiving Advances

The advance received from the customer is a liability account until the service is rendered. When the service is completed, it is transferred to the income account. VAT is also calculated at this point.

Package Tour VAT (Margin-Based)

In package tours, margin-based VAT can be applied; VAT is calculated based on the profit between purchase and sale. There is a zero-rate exemption for international packages.

Agency Commission Invoice

The commission paid to the agency is a service fee, subject to 20% VAT. The agency issues the invoice to you, you pay it, and the VAT becomes a deductible item.

E-Invoice and E-Archive

Operators exceeding the turnover threshold are required to use e-invoices. The Smartur accounting module works connected to e-invoice integrators (Logo, Mikro, Uyumsoft).

Sıkça Sorulan Sorular

How is currency difference accounted for foreign tourists?: Using the exchange rate of the collection day in TL equivalent. The exchange difference is processed as income/expense.
VAT on no-show refunds?: Revenue not refunded remains as income and is included in the VAT declaration.