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Extension of the Deadline for Bringing Certain Assets into the Economy

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    Erta Audit

  • Type

    Bulletin

  • Date

    June 30, 2021

  • Reference

    ertadenetim.com

Extension of the Deadline for Bringing Certain Assets into the Economy

page

EXTENSION OF THE DEADLINE FOR BRINGING CERTAIN ASSETS INTO THE ECONOMY UNDER LAW NO. 7256

Presidential Decree No. 4196 dated 29.06.2021, published in the Official Gazette No. 31527 dated 30 June 2021, extended the time limits in Paragraphs 1, 2 and 5 of Provisional Article 93 of the Income Tax Law No. 193 by 6 months from their expiry dates.

Accordingly:

• Real persons and legal entities who notified a bank or brokerage institution in Turkey of money, gold, foreign currency, securities and other capital market instruments held abroad by 30.06.2021 may freely dispose of such assets. The notification deadline has been extended to 31.12.2021.

• The deadline for closing registered foreign loans using such assets has been extended from 30.06.2021 to 31.12.2021.

• The deadline for notifying the tax office of money, gold, foreign currency, securities and other capital market instruments and real estate held in Turkey but not recorded in the legal books has been extended from 30.06.2021 to 31.12.2021.