A communiqué from the Ministry of Treasury and Finance (Revenue Administration) on bringing some assets into the economy was published in the Official Gazette.
The highlights of the paper are as follows:
Bringing real and legal persons’ money, gold, foreign exchange, securities and other capital market instruments abroad into the national economy and recording these assets in the legal books by the income and corporate taxpayers,
Money, gold, foreign currency, securities and other capital market instruments and immovables in the country that are not included in the legal book records of income and corporate taxpayers are declared to the tax office and recorded in the legal book,
The declaration of the assets within the scope of the article in the country by those who do not have income and corporate tax liability,
It includes explanations on other issues related to the application of the article.
Banks and intermediary institutions, 1% for the notifications made until 30/9/2022 over the value of the assets notified from the notification owner, regarding the assets notified to them, notifications made between 1/10/2022 and 31/12/2022 (including this date) and 3% for the notifications made until 31/3/2023 (including this date), until the evening of the fifteenth day of the month following the notification, with the declaration in Annex-2 as tax responsible. will declare it to the tax office in line with the procedures and principles specified in the General Communiqués of the Tax Procedure Law no. 340 and 346. The taxes levied by the tax offices on the values of the declared assets will be paid by the banks and intermediary institutions as tax responsible within the said declaration period.
If a real person who makes a foreign exchange declaration equivalent to 5,000,000 TL in 2022/August wishes to reduce the amount reported in the same month to 2,500,000 TL or to increase it to 7,500,000 TL, he will have to submit a correction notification regarding his first notification.
If a real person who made a foreign exchange declaration equivalent to TL 5,000,000 in August wishes to reduce the amount reported in September or October to TL 2,500,000, he will be required to submit a correction notification regarding his notification in August. The correction request regarding the assets notified to the tax office with the declaration in Annex-2 by the banks and intermediary institutions will be made through the bank or intermediary institutions.
If a real person who made a foreign exchange declaration equivalent to TL 5,000,000 in August wishes to increase the amount reported to TL 7,500,000 in September or October, he will have to submit a new notification of TL 2,500,000 for September or October. Since the new notifications will not be associated with the previous notification, only the additional amount will be reported.
After the notification period has expired, correction requests regarding the notifications will not be considered. In this framework, it will not be possible to correct the notifications made until 31/3/2023 after this date.
In the event that the assets located abroad and subject to the notification under the article are kept in these accounts for at least one year from the date on which they are transferred to accounts in banks or intermediary institutions in Turkey or brought from abroad and deposited in these accounts, the tax required to be applied within the scope of the article is based on the value of the declared assets. rate will be taken into account as 0%. In this case, the taxes collected by the banks and intermediary institutions and paid to the tax office in the capacity of tax officer will be returned to the relevant person upon the application of the notifier to the tax office within the correction time limit with the form in Annex-4.