Deadline Extended for Tax Restructuring

Deadline Extended for Tax Restructuring The deadline has been extended for tax restructuring. In addition, it was decided to extend the first installment period by 1 month. According to the Presidential decision published in the Official Gazette, the application and first installment payments stated in the 3rd and 4th articles of the structuring law numbered 7256 have been extended for 1 more month as of the end of the periods mentioned in the aforementioned articles. Accordingly, it was decided to extend the application period, which was going to end on December 31, and the first installment period, which is extended until January 31, by 1 more month. In the articles mentioned above, the debtor who wants to benefit from the provisions of the law; The first installment of the amounts to be paid to the Ministry of Treasury and Finance, the Ministry of Commerce, special provincial administrations, municipalities and YIKOB's collection offices until 31 January 2021, the first installment of the amounts to be paid to the collection offices affiliated with the Social Security Institution. It was planned to be paid by February 28, 2021.   Over 6.5 Million People Applied for Restructuring According to the latest data published by the Revenue Administration, 6 million 575 thousand debtors applied as of December 28, within the framework of the law published in the Official Gazette on November 17. Within this framework, 7 million 330 thousand configuration files were created and a receivable of 76 billion 45 million 643 thousand liras was structured within 40 days. Borrowers paid 1 billion 280 million lira as of the same date. If the structured debts are paid in advance until February 1, 2021, a discount of 90 percent from the calculated D-PPI amount and 25 percent from the original administrative fines is applied.