Law numbered 6486 was promulgated in the Official Gazette No.
28661 dated May 29, 2013 ("Wealth Amnesty Law").
Provisional Article 85 was added to the Income Tax Law (Law No.
193) (published in the Official Gazette dated January 6, 1961 and
No. 10700) together with Article 13 of Law No. 6486 which regulates
the wealth amnesty, came into force in May 29, 2013.
Turkey's new Wealth Amnesty Law encourages Turkish taxpayers
to transfer certain assets (see below) to Turkey. According to the
new regulation, assets outside Turkey which have been in possession
of taxpayers as of April 15, 2013, can be transferred to Turkey. To
benefit from the provisions of the Wealth Amnesty Law, the assets
should be reported to banks or brokerage houses in Turkey or
declared the tax offices with their market values in Turkish lira
by July 31, 2013.
