COUNCIL OF MINISTERS DECIDED ON A BY-LAW PROVIDING TAX AMNESTY FOR TAXES OWED BY INDIVIDUALS AND COMPANIES
This By-Law enables indivusuals and companies to pay outstanding taxes (corporate,income and local taxes) and their fines for the year 2020 and the previous years.
The tax payers who want to apply for this amnesty, will apply to the Inland Revenue (the Tax Office) in 90 days starting from the date this By-Law is published in the Official Gazette.
The taxes which are coverd by this By-Law are as follows :
Income Tax
Corporation Tax
Banking and Insurance Services Tax
Value Added Tax
Immovable Property Tax
Inheritance Tax
Undecleared Income of the deceased persons and the property tax outstanding of the deceased
Tax Fines and Penalties
Special Irregıularity Finess
Any returned unpaid cheques the maturity of which are prior 31.12.2020
Telephone Bills dated before 31.12.2020 and not paid (GSM telephone bills are excluded)
Other Taxes and Duties (Excepts amounts owed to government owned business organisations)
Fines, Court Fees and Other Fines
Overdue Fines of the Unpaid Taxes, Rates and Charges stated above.
The Payment Options :
1.If the total amount of unpaid taxes and fines stated above are fully paid 97% (Ninety Seven Per Cent) of the fines and 90% (Ninety Per Cent) of the overdue interest are waived.
2.If the total amount of unpaid taxes and fines stated above are paid in 6 (six) equal instalments starting the day after the end of the application period 90% (Ninety Per Cent) of the fines and 80% (Eighty Per Cent) of the overdue interest are waived.
3.If the total amount of unpaid taxes and fines stated above are paid in 12 (twelve) equal instalments starting the day after the end of the application period 90% (Ninety Per Cent) of the fines and 60% (Sixty Per Cent) of the overdue interest are waived.
4.If the total amount of unpaid taxes and fines stated above are paid in 24 (twenty four) equal instalments starting the day after the end of the application period 90% (Ninety Per Cent) of the fines and 50% (Fifty Per Cent) of the overdue interest are waived.
5.If the total amount of unpaid of the taxes and fines stated above are paid in 36 (thirty six) equal instalments starting the day after the end of the application period 90% (Ninety Per Cent) of the fines and 40% (Forty Per Cent) of the overdue interest are waived.
The fines and overdue payments cannot be deducted as expense for the tax purposes. If the payments are not made within the agreed dates the originasl tax and fines become collectible. This By-Law will be in force as from 03.11.2022.
