Turkey Asset Peace Period Extended another 6 month up to 31.06.2022
06 Ocak 2022, 16:10
Turkey Asset Peace Period Extended another 6 month up to 31.06.2022
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According to the decree published in the Official Gazette, Turkey increased its VAT rates from 18% to 20% and from 8% to 10%.
Asset peace arrangement includes bringing foreign assets to Turkey and registering domestic assets. The main lines of the application are as follows.
It is possible to bring money, gold, foreign exchange, securities and other capital market instruments abroad within the scope of the Law.
It is also within the scope of the law that money, gold, foreign currency, securities and other capital market instruments and immovables that are not included in the legal book records of income and corporate taxpayers in the country can be registered in the legal book by notifying the tax office.
No tax inspection or tax assessment will be made for the assets to be declared.
No tax will be paid due to the notification made.
The implementation period of the Provisional Article 93 of the Income Tax Law was extended by 6 months with the Presidential Decision No. 4196.
Go GVC. art. In order to benefit from the scope of 93, both the assets to be brought from abroad and the assets located in Turkey but not included in the legal book records must be notified on 31/06/2022 (including this date).
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