Bringing Assets Located Abroad into the
National Economy
New Regulations Made Regarding Bringing
Assets Located Abroad into the Turkish Economy
Law No. 7582 on Amendments to Certain Laws was
published in the Official Gazette No. 33270 dated 04.06.2026, and the
regulations regarding "Assets Located Abroad" within the scope of
this law are summarized below;
Regulation Regarding Assets Owned by Real
or Legal Persons and Located Abroad
In order to encourage the bringing of assets owned by
real or legal persons into the Turkish economy, Temporary Article 19 has been
added to the Corporate Tax Law, and the regulations regarding the relevant
procedures and principles are as follows;
Reporting Assets Located Abroad
Money, gold, foreign currency, securities and other
capital market instruments located abroad;
a. Will be reported to banks
or brokerage firms located in Turkey between 04/06/2026 and 31/07/2027
(inclusive).
b. The declared assets must
be transferred to accounts opened in their names at banks or financial
institutions in Turkey within two months from the date of declaration, or, if
physically brought from abroad, deposited into these accounts.
c. The bringing of
physically brought assets from abroad to Turkey will be documented with the
declaration documents to be submitted to the Customs Administration. The
Customs Administration will notify the Revenue Administration of these
declarations by the end of the month following the month in which the asset was
received.
Procedures to be Performed in Legal
Bookkeeping Records Regarding Declared Assets;
-Taxpayers keeping books in accordance with Law No. 213
in Turkey will record them in their legal books as of the date of declaration.
-Taxpayers keeping books on a balance sheet basis will
open a special fund account in the liabilities section for the assets they
record in their legal books in accordance with the provisions of this article.
This fund account cannot be withdrawn from the business for two years from the
date of declaration, cannot be used for any purpose other than adding to
capital, and will not be taxed in case of liquidation of the business. -These
assets may be withdrawn from the business without being taken into account in
determining taxable income and distributable profit for corporations, provided
that 2 years have passed from the notification date.
-Taxpayers keeping books according to the
self-employment income ledger and the business account principle will show
these assets separately in their books.
-These assets are not taken into account in determining
the period's profit and will not be taken into account in determining taxable
income and distributable profit for corporations, provided that two years have
passed from the notification date.
Notifications Made by Those Without Income
and Corporate Tax Liability
Those without income and corporate tax liability may
benefit from the provisions of this article without the requirement of
registering them in the books, provided that they bring the assets they have
declared to Turkey within two months from the notification date, or deposit
their domestic assets in banks or intermediary institutions as of the
notification date.
Tax Rate on Declarations and Procedures to
be Carried Out by Banks and Financial Intermediary Institutions
Banks and financial intermediary institutions located
in Turkey will declare and pay the tax they collect in advance from the
declarant at a rate of 5% of the value of the assets reported to them, to the
tax office to which they are affiliated, by means of a declaration by the
evening of the fifteenth day of the month following the declaration, acting as
tax responsible parties.
Tax Rate
The tax rate will be applied as follows for the
declared asset in term accounts, government domestic debt securities issued
under Law No. 4749, lease certificates, or venture capital investment funds:
-0% if it is committed to be
held for at least five years,
-1% if it is committed to be
held for at least four years,
-2% if it is committed to be
held for at least three years,
-3% if it is committed to be
held for at least two years,
-4% if it is committed to be
held for at least one year.
For notifications made between January 1, 2027 and July
31, 2027 (inclusive), these rates will be increased by half a point. If the
July 31, 2027 date is extended by authorization, the tax rate for notifications
made after this date will be increased by an additional half point, resulting
in a total increase of 1 point. No stamp duty will be levied on undertakings
given within this scope.
Review and Assessment Status Regarding
Declarations
No tax audit or tax assessment will be conducted on the
amounts corresponding to the declared assets. However, measures that must be
taken in accordance with other legislation will not be considered within this
scope. If it is determined that the difference in tax base resulting from tax
audits initiated for other reasons or from assessment committee decisions arose
due to the assets declared under this article, and the declared asset amount is
equal to or greater than the determined difference in tax base, no assessment
will be made regarding the difference in tax base. If the determined difference
in tax base is greater than the declared asset amounts, even if it is
determined that it arose due to the declared assets, tax assessment will only
be made on the difference. If a difference in tax base is determined as a
result of a tax audit or assessment committee decisions for reasons other than
the assets subject to the declaration, the amounts declared under this article
will not be deducted from the determined difference in tax base when making the
assessment.
Failure to Fulfill the Conditions Under the
Notification
Even if a notification is made under the law,
- Failure to bring the declared assets to Turkey within
two months from the date of notification,
- Failure to transfer them to an account to be opened
in a bank or intermediary institution in Turkey;
- Failure to deposit them in a bank or intermediary
institution within the period specified in the third paragraph, even if
notified in accordance with the same paragraph,
- Failure to pay the taxes assessed on the declared
amounts on time, failure to comply with commitments,
- Failure to fulfill other conditions included in this
scope,
in these cases, the benefit of the provision of the law
regarding the non-conduct of tax audits and tax assessments will not be
available.
Furthermore, taxes not assessed on time will be
collected with delay interest without the application of tax penalties.
If a tax audit is initiated or referred to the
assessment commission after the date of notification made under this article,
the audit will continue or assessments will be made as a result of the
assessment commission's decisions, but the relevant parts of the notifications
will be offset.
If the accrued tax is not paid on time, the principal
tax amount, together with late payment interest, will be pursued and collected
in accordance with Law No. 6183, and taxes already collected will not be
refunded or reimbursed.
Correction Status Regarding Notifications
Corrections can be made until 31/07/2027. Notifications
made until 31/07/2027 (or until the extension date if an extension is granted)
cannot be corrected after this date.