SAFAKNA TURKEY – An extended package of settings for taxes, bonuses and administrative fines is being prepared. The debt restructuring package, prepared by the Ministry of Treasury and Finance, will also include items such as a base increase and a cash amnesty. The practice of withholding 90 percent of the advance, which was applied in previous configurations, will be applied in this configuration. The package, which is expected to be announced by President Recep Tayyip Erdogan on Monday, has already caused a stir.
It is stated that with the package, all debts incurred before December 31, 2022 will be restructured. Unlike other configurations, this time it is focused on providing debtors with installments for more than 18 months.
The tax and insurance debt restructuring package, which has been talked about for a while, will cover tax debts to finances, judicial and administrative fines, student loans, taxes on vehicles, traffic, population, illegal tolls and bridges, insurance premiums. As in previous configurations, cash and installment payments will be available. When paying in cash, you will be offered the possibility of debiting up to 90 percent. For traffic police fines and administrative fines, there will be a 25 percent discount on advance payment arrears. As part of the package, it is possible to write off all debts below a certain amount. The critical date for the configuration is December 31, 2022. The package will cover debts until that date.
NUMBER OF PAYMENTS MAY EXCEED 18
Typically, tax debt restructurings could be paid in installments of 6, 9, 12 and 18 months, and payments were requested every two months. A certain coefficient was also applied depending on the number of payment contributions preferred by the debtor. In the new package, a borrower who has chosen six installments will be able to pay the amount calculated at the established coefficient rates after 12 months, once every two months. In the 18 payment option, payment will be made after 36 months. The new package states that the number of installments can exceed 18. If the repayment period exceeds 18, for example 20 months, the debt can be repaid in 40 months. If the installment option is 24 months, the debt can be repaid in 48 months.
AN OPPORTUNITY TO INCREASE THE BASE APPEARS
It became known that the new structuring will also include an increase in the tax base. With the introduction of regulation, tax audit and assessment will not be carried out for taxpayers who have increased their tax base or tax and have met the conditions. In the event of a base increase, base increase rates and minimum base increase amounts will be determined retrospectively for five years. If these amounts are surcharged, taxpayers will be released from control. Goods, machinery, equipment, fixtures and cash registers that are not included in the records or are not in business, even if they exist in the business, and the ability to bring business documents in line with the real situation by declaring receivables from partners will also be included in new package.
AVAILABLE IN FEBRUARY
Preparations for the new package continue. The package is said to be out of Parliament in February.
- Attack on the Azerbaijani embassy in Tehran: 1 person died – Details of the news
- Forecast for an 18 percent decline in oil prices
- New blood test for Alzheimer’s developed
- Binance and Roubini feud escalates
- Supply crisis hit Volkswagen
- US Crypto Money Warning
- Network market statement from President Erdogan
- 4th consecutive day of Covid-19 outbreak in China
- $2 billion Bitcoin outflow from Binance
- The world’s largest volcano began spewing lava in Hawaii