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Turkey Extends Disclosure Scheme for Certain Domestic or Foreign Assets — Orbitax Tax News & Alerts

Turkey's Revenue Administration has announced the publication of Presidential Decision No. 4196 of 29 June 2021, which extends the disclosure period for certain domestic and foreign assets as provided by the 2020 law on restructuring public receivables. Under the law, a voluntary disclosure scheme was introduced, providing that the disclosure of certain domestic or foreign assets up to 30 June 2021 will be relieved from additional tax liability or tax examination, including cash, gold, foreign exchange, securities, and other capital market instruments. Presidential Decision No. 4196 extends the disclosure period by six months to 31 December 2021.