Asset Peace Applications Have Been Extended

Asset peace applications have been extended. With the presidential decision, applications for asset peace will continue for another 6 months.

With the presidential decision published in the Official Gazette, the applications for peace of assets, which were planned to expire on June 30, were extended for another 6 months. The new asset peace application came into effect in November 2020. With the regulation, the President was authorized to extend the period up to one year for periods not exceeding six months each time from the expiry date. In the 12 years since 2008, 6 entity peaces have been made. With the last regulation, the 7th round of asset peace was implemented in Turkey. The application covers the import of foreign assets such as gold and foreign currency to Turkey.

What is Asset Peace Practice?

All natural or legal persons, domestic and foreign, who are taxpayers or not in Turkey, can benefit. Beneficiaries who notify the money, gold, foreign exchange, securities and other capital market instruments abroad to banks or brokerage houses in Turkey within the scope of Asset Peace, provided that they bring the said assets to Turkey within three months from the date of notification, will not pay taxes on the assets they report.