New amendments have been made with the Law on Amending Certain
Laws and Restructuring of Certain Debts No. 7256, dated as 11
November 2020, and published in the Official Gazette No. 31307
dated 17 November 2020.
While the definite public and certain other receivables were
restructured within the scope of the mentioned Omnibus Law, a new
repatriation of assets was brought. Also, amendments have been made
which can affect Income Tax Law, Corporate Tax Law and Value Added
Tax Law considerably.
Details on debt restructuring are as below;
- Restructuring of receivables up to
500 billion TL, encompasses receivables before
31st August 2020.
- Those who want to benefit
restructuring can apply until the end of 2020.
