It has been announced in the Official Gazzette numbered 29871 dated 28.10.2016 that Temporary Article 86 has been added to Income Tax Law numbered 193 in order to close the gap for employees registered to social security who have experienced a decrease in net income below the level of 1300.99 TRY as of the month of October 2016 due to increaseing income taxes.

Additionally, the aforementioned Official Gazzette includes details related to the Income Tax Announcement with the serial number 294 and the applications which have come into effect as of 01.10.2016.

A new law numbered 6740 with the title: “Law on Changes to be made on the Individual Pension Savings and Investment System Law”, has been announced in the Official Gazette dated August 25, 2016.

With the release of the aforementioned law, the law numbered 4623 entitled “Law on The Individual Pension Savings and Investment System Law” has had an additional article added to it.

The Law regarding ‘’The Restructuring of Certain Receivables’’ – also known as Tax Amnesty, which also includes the restructuring of public receivables in many various tax types, has come into effect with the publishing of Official Gazette dated 19th of August 2016. In this framework, we will review the details of this law along with the notification published by Ministry of Finance on 23rd of August 2016.

Law on Making Amendments to Certain Laws for the Purpose of Improving the Investment Climate, has been issued on the Official Gazette dated 08/09/2016, with the Law Number 6728.