TAX NEWS NO: 2017/1

December 30, 2016


The Application period for the capital repatriation (asset amnesty) within the context of Law no.6736 through the Council of Ministers Decision no. 2016/9608 promulgated in the Official Gazette dated 30/12/2016 has been extended until 30 June 2017 (including that date).


We would like to take this opportunity to brief you about the application of capital repatriation.


General Communiqué (Serial No: 4) regarding the Law on Restructuring of Certain Receivables (“Law No. 6736”) which contains explanations on the capital repatriation (asset amnesty), has entered into force with the publication of the Official Gazette dated 02.12.2016 and numbered 29906.

According to the regulations, the real persons and legal entities bringing their money, gold, foreign currency, securities and other capital market instruments present abroad into Turkey until 30 June 2017, will be able to save these freely.


The amounts declared in this manner shall not be subject to taxation by any law.


As per the relevant provisions of the law, no tax inspection or assessment shall be conducted with respect to the assets declared within the context of the concerning law provided that any requirement arising from another circumstance to remain preserved.

For returning money, gold, foreign currency, securities and other capital market instruments to Turkey, which were present abroad, or for notifying the banks or intermediary institutions for securities and other capital market instruments at hand, a FORM attached to the Communiqué is to be used and will be prepared with an original signature (wet signature).


Bank receipts or intermediary institution transaction forms will deemed to be proof for the realization of transfer of money, gold, foreign exchange, securities and other capital market instruments into Turkey under the circumstance that they are transferred to an existing or new Turkish bank account.


Documents received from the Customs Administration regarding the declarations/notifications of physical importation of the assets will also be deemed to be proof that the assets were returned to Turkey. 

Real persons and legal entities may also utilize the documents obtained from relevant institutions or organizations located abroad for notifying the banks or intermediary institutions (in Turkey).

Yours sincerely,

Deloitte Turkey


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