Law No. 7582 on Amendments to Certain Laws, published in Official Gazette No. 33270 of 4 June 2026, has placed a new asset peace regime on the agenda.
Law No. 7582 on Amendments to Certain Laws, published in Official Gazette No. 33270 of 4 June 2026, has placed a new asset peace regime on our agenda.
1. Scope and Notification
- Assets held abroad: Money, gold, foreign currency, securities and other capital market instruments held abroad must be notified to banks or intermediary institutions by 31 July 2027. Assets notified must be transferred to Türkiye within two months of the notification.
- Domestic assets: Money, gold, foreign currency, securities and other capital market instruments held in Türkiye but not recorded in the statutory books must likewise be notified by the same date and evidenced by deposit with a bank or intermediary institution. Domestic assets subject to declaration may be brought into the records by notifying them to banks or intermediary institutions by 31 July 2027.
2. Tax Rate
Banks and intermediary institutions collect tax in advance on the assets notified, generally at a rate of 5%. However, where an undertaking is given that the asset will be held for specified periods in time deposit accounts, in government domestic borrowing securities or lease certificates, or in venture capital investment funds, the rate falls on a sliding scale:
For notifications made between 1 January 2027 and 31 July 2027, half a point is added to these rates. If the period is extended by decree, an increase of one point in total applies during the extended period.
3. Protections Provided and Points to Watch
- Those keeping books on the balance sheet basis open a special fund account on the liabilities side for the assets they record; this fund may not be withdrawn from the business for two years (except for addition to capital).
- As a rule, no tax audit or assessment is carried out in respect of the amounts corresponding to the assets notified.
- The tax paid cannot be recorded as an expense or offset against any other tax; losses arising from the disposal of the assets notified are not accepted as an expense or deduction.
- Where the transfer, deposit, undertaking and payment conditions are not met, the protection from audit is not available and taxes not accrued on time are collected together with late payment interest.
- Persons who are not liable to personal or corporate income tax may also benefit from the regime, without conditions such as the special fund account, provided they bring their foreign assets to Türkiye within two months or deposit their domestic assets with banks or intermediary institutions.