04.06.2026 00:40
The law on tax arrangements, including the asset peace, was published in the Official Gazette and entered into force. Within the scope of the regulation, if foreign assets are reported by July 31, 2027, no tax inspection or assessment will be conducted, and real persons meeting certain conditions will not be subject to income tax on their foreign earnings for 20 years. Additionally, the maximum installment period for public receivables was increased to 72 months, and the amount for unsecured deferral was raised to 1 million lira.
The Law on Amendments to Certain Laws, which includes tax-related regulations, was published in the Official Gazette. The regulation also includes the asset peace initiative.
20-YEAR INCOME TAX EXEMPTION ON FOREIGN INCOME
Under the new regulation, a tax exemption has been introduced for individuals considered resident in Turkey. Accordingly, provided that the individual has not had a residence or tax liability in Turkey in the three calendar years prior to being considered resident in Turkey, no income tax will be collected on earnings obtained abroad for a full 20 years.
ASSET PEACE EXTENDED UNTIL JULY 31, 2027
The process for real or legal persons wishing to bring their assets abroad to Turkey has been relaxed again. Real or legal persons can declare money, gold, foreign currency, securities, and other capital market instruments held abroad to banks or intermediary institutions until July 31, 2027. No tax inspection or tax assessment will be conducted in any way regarding the amounts corresponding to the declared assets during this period.
TAX DEBT INSTALLMENT PERIOD DOUBLED
Steps have also been taken to ease the burden on taxpayers regarding the collection procedures and deferral conditions of public receivables. The maximum installment period for deferrals of public receivables has been increased from 36 months to 72 months (6 years). The upper limit for unsecured deferral amounts, which allows debts to be deferred without providing any guarantee, has been raised to 1 million lira.
INCOME TAX EXEMPTION FOR QUALIFIED PERSONNEL
To support qualified service centers, an employment-focused exemption has been implemented. It has been enacted that income tax exemption will be applied to the portion of wages of qualified service personnel employed in these centers that does not exceed three times the gross minimum wage.
MEGA INCENTIVE FOR ISTANBUL FINANCE CENTER UNTIL 2047
To make the Istanbul Finance Center (IFC) a global attraction hub, the duration of the historic tax reductions and exemptions provided to organizations here has been significantly extended. The 100% corporate tax reduction applied to the earnings of organizations holding participant certificates and conducting financial activities in the IFC has been extended until 2047. The 5-year exemption period provided for these organizations regarding financial activity fees during the establishment and licensing stages has been increased to 20 years.