Turkey's Revenue Administration Releases New "Regret Declaration Guide"

Turkey's Revenue Administration has announced the release of a new "Regret Declaration Guide", which covers the regret and correction scheme that allows taxpayers to voluntarily and spontaneously submit a notification of illegal actions that result in a tax loss and receive relief from tax lose penalties and the application of evasion provisions. The guide covers all aspects of the scheme with several examples.

The tax types eligible for the scheme include income tax, corporate tax, VAT, sp…