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 18th of May 2018. Details in regards are to be provided with the provisions which are expected to be announced by the relevant authorities and institutions.

In general terms; the regulations have been made towards specified receivables, unascertained receivables or receivables in the case before the courts, taxes under investigation, tax base increase and inventory and record corrections. You can find further details on the receivables and the reconstruction applications of such receivables in detail below to this informative article.

1. The Receivables Subject to Restructuring
   • Taxes and tax penalties within the scope of the Tax Procedure Law.
   • Customs taxes and administrative fines
   • Insurance premiums and fines
   • All kinds of interest, fee, late interest, late fee, delay penalty regarding these receivables that are restructured within the scope of this law.
2. The Respective Authorities that are concerned with the Receivables subject to Restructure Applications
   • Ministry of Finance
   • Ministry of Customs and Trade
   • Municipalities
   • Social Security Institutions
   • Other Institutions (Directorate General of Highways, Radio & Television Supreme Council, Immigrations and Civil Registry Offices, etc.)

Obligation to Obtain the Tax Plates

The tax plates for the taxpayer workplaces which have been created electronically and transferred to the e-tax offices in accordance with the Corporate / Income Tax Declarations shall be printed until the end of May either by the authorized persons of the entity, by the certified public accountant or by the sworn certified public accountant operating with the entity.

For the workplaces which are obligated to poses tax plates but failed to obtain the new tax plates, will be liable to an administrative penalty fine in accordance with the Tax Procedure Law, in cases where this incompliancy is realized in case of an audit held by the authorities.

The tax payers shall register and create the new tax plates either by logging into the system themselves (if liable to full approval) or with the assistance of their CPAs.

Each year, the rent income earned by real persons are declared to the respective tax office with the Annual Income Declaration until 25th of March. The types of income that are within the scope of GMSI except for the rent incomes, are stated in the Income Tax Law Number 70.

In order to declare the rent income, the lump sum expense method and real expense method are implemented. Up until this year 25% ratio was considered for implementation of lump expense method. But this 25% ratio has been reduced to 15% ratio as of the start from 2017 revenues. In the below table only information is provided for rent income from residental and commercial places. For further detailed information please contact your customer representative or an expert.

Within the scope of the Income Tax Law numbered 6663 and Law on Making Amendments on Certain Laws, the premium incentive that is currently being applied to certain cities of Türkiye within the scope of regional incentive application has been extended until 31.12.2018 starting as of 01.01.2018, with the announcement made on the Official Gazette dated 10.02.2018 in accordance with the resolution of the Council of Ministers.