On 30 April 2018, the Draft Law on the Restructuring of Tax and Certain Receivables and Amending Certain Laws (Draft Law) was submitted to the Turkish Parliament.
This legal alert lays out the most essential provisions introduced by the Draft Law regarding the restructuring of tax receivables enforced by the Ministry of Finance. The Draft Law may be amended prior to its enforcement.
What Does the Draft Law Say?
The Draft Law covers tax receivables related to the period before 31 March 2018 in general, the delay interest and tax penalties arising from these tax receivables, and other penalties not derived from an original tax.
The Draft Law excludes income tax installments to be paid after 31 March 2018 and advance taxes to be paid in 2018 through offsetting from income/corporate income tax, as well as second installments of the 2018 motor vehicle tax.