The Law Amending Certain Laws No. 7582 (the “Law”), which includes regulations on the declaration and registration of certain domestic and foreign assets, as well as providing tax advantages regarding these assets, was published in the Official Gazette dated June 4, 2026, and numbered 33270, and has entered into force. With the temporary Article 19 added to the Corporate Income Tax Law by the Law, provisions regarding a new “Asset Amnesty” have been introduced into the legislation;
- Declaration of Domestic and Foreign Assets Has Been Permitted:
With this article added to the Corporate Income Tax Law, real persons and legal entities are granted the opportunity to register their gold, cash, foreign currency, securities, and other capital market instruments located abroad by declaring them to banks or intermediary institutions in Türkiye until July 31, 2027. The declared foreign assets must be brought into Türkiye or transferred to bank or intermediary institution accounts in Türkiye within two months from the date of declaration. For assets physically brought into Türkiye, documentation via a customs declaration is mandatory.
The regulation covers not only foreign assets, but also gold, cash, foreign currency, securities, and other capital market instruments that are physically located in Türkiye but not recorded in the statutory books of commercial enterprises. Income or corporate taxpayers will also be able to register these unrecorded assets by declaring them through banks or intermediary institutions until July 31, 2027.
- Tax Status of the Declared Assets
Under the regulation, it is permitted to record the declared assets in the business accounts and to subsequently withdraw them from the business under certain conditions. No additional income or corporate tax will be calculated due to the declared assets, and these assets will not be taken into account in the determination of the taxable income of commercial enterprises.
Nonetheless, as a rule, a tax at a rate of 5% (five percent) must be paid on the declared assets. In other words, if the 5% (five percent) tax is paid directly on the asset brought within the scope of the Asset Amnesty, the remaining amount will be released directly for use without any restrictions.
However, the tax rate decreases progressively if it is committed that the declared assets will be utilized in time deposits or participation accounts, invested in domestic government debt securities, lease certificates, or venture capital investment fund participation shares, and that these investments will be held for periods varying between at least one to five years. Within this scope, a 1% (one percent) reduction will be applied to the tax rate for each additional year the asset is maintained in the system; thus, the tax rate may decrease down to 0% (zero percent) if a holding period of five years is committed.
- Tax Audit Protection is Provided if Certain Conditions are met:
One of the most significant consequences of the Law is that it provides protection against tax audits and tax assessments regarding duly declared assets. Accordingly; provided that foreign assets are declared in due time and brought into Türkiye or transferred to bank or intermediary institution accounts in Türkiye within two months from the date of declaration, and that domestic unrecorded assets are declared and documented through banks or intermediary institutions, and furthermore, that the calculated taxes are paid in due time and other conditions stipulated in the Law are fulfilled, no tax audit or tax assessment will be conducted with respect to the amounts corresponding to the declared assets.
The regulation also provides a significant advantage regarding ongoing or potential future tax audits. Accordingly, if it can be demonstrated that tax base differences detected as a result of an audit stem from the declared assets, it may be possible, under certain conditions, not to make additional tax assessments over these amounts. In this aspect, the regulation is of a nature that can also contribute to mitigating tax risks regarding past periods.
Nonetheless, the aforementioned protection is not absolute. In the event that the declared assets are not brought into Türkiye or deposited into the relevant accounts in due time, the calculated taxes are not paid on time, the investment commitments providing tax advantages are not complied with, or other conditions stipulated in the Law are violated, it will not be possible to benefit from the protections provided by the regulation.
Furthermore, the regulation does not eliminate the obligations and measures applicable under the prevention of laundering of proceeds of crime, the prevention of the financing of terrorism, and other relevant legislation.
The relevant amendments entered into force on the date of their publication in the Official Gazette.
