New Regulations on Asset Declarations

FEATURED ADVANTAGES

% UP TO 0% TAX ADVANTAGE

Benefit from advantageous rates based on the commitment period.

20-YEAR INCOME TAX EXEMPTION

Real persons who are considered settled in Turkey, provided that they do not have residence and tax liability in Turkey in the last three calendar years before they are considered settled in Turkey, their earnings and income earned outside Turkey are exempt from income tax for twenty years.

TAX INSPECTION PROTECTION
Provided the conditions are met, no tax inspection or assessment will be conducted.

With the New Asset Declaration, you can bring your assets both abroad and domestically into the system with low-rate advantages and obtain legal protection. Until July 31, 2027, you can declare your assets securely and confidentially through our bank.

Bring your assets abroad and domestically to our national economy with the advantages of Asset Peace, and take advantage of the privileged investment options offered by our bank.

It was introduced by Article 10 of the “Law on Amendments to Certain Laws” published in the Official Gazette No. 33270 dated June 4, 2026, with the “Temporary Article-19” added to the Corporate Tax Code No. 5520, and was created by a separate article independently of the previous asset peace regulations.

Who Will Be Able to Benefit?
Income or corporate tax taxpayers, ordinary partnerships, partners, natural persons who are not taxpayers (including foreigners) will be able to benefit from the regulation introduced. However, whoever made the declaration regarding asset peace will benefit from the introduced regulation. Whomever bears the taxation risk arising from the acquisition of the reported asset, it would be beneficial to file the report on their behalf.

Will it be possible to make a notification on behalf of someone else?

These notifications may be made by natural or legal persons, and are also possible to be made by authorized representatives or legal agents.

What are the Assets Subject to Reporting?

The assets subject to the notification are money, gold, foreign currency, securities, and other capital market instruments.

Will Real Estate Properties Be Subject to Notification?

While real estate in the country was also the subject of notification in previous regulations, since this regulation excludes real estate, it is possible to notify these assets only if the asset obtained by selling real estate located in the country or abroad is converted into assets within the scope.

What is the Application Period?

Notifications can be made until 31/7/2027.

Where to Submit Applications?

Applications: Money, gold, and foreign currency can be made to banks; securities and other capital market instruments can be made to brokerage firms.

How will it be proven that the notification was made?

A copy of the notification Form (Oct-1) will be returned to the relevant bank or brokerage institution along with the issued bank statements or transaction result forms, if any, after the information about the account opened due to the notification has been written and approved, and it will be confirmed that the notification was made with these documents.

Do the Assets Subject to Reporting Need to Be Deposited with the Bank or Brokerage Firm?

Domestic assets must be deposited with the bank or brokerage firm on the same day they are reported. As for foreign assets, they must be deposited with the bank or brokerage firm within 2 months from the notification date. For example, if a notification has been made that an asset will be brought from abroad on 31/7/2027, which is the last day for notification, the asset must be deposited to a bank or brokerage institution no later than 2 months from the notification date, until 30/09/2027.

How Will Assets Physically Imported from Abroad Be Documented?

The physical importation of assets brought from abroad will be documented through the declaration made to the Customs Administration. Within this scope, the Customs Administration shall report the declarations received to the Revenue Administration by the end of the month following the month in which they were received.

Is it mandatory to open a new account for assets to be reported?

The relevant asset can be transferred to an existing or newly opened account at banks or brokerage institutions in Turkey, and there is no obligation to open a new account.

Does the Person Transferring the Asset from Abroad and the Notification Holder Need to Be the Same Person?

The fact that the notified account holder and the person transferring the asset from abroad are different persons does not have any significance in terms of benefiting from this provision.

What is the Tax Rate to be Paid for Declared Assets?

Banks and brokerage institutions will collect taxes from the owner of the notification on the assets reported to them in a responsible capacity of 5% on the value of the assets. However, in the term / participation accounts of the declared asset, government domestic debt securities issued in accordance with Law No. 4749, as well as lease certificates or venture capital investment funds;

Tax will be levied at the specified rate. For notifications made between January 1, 2027 and July 31, 2027, these rates will be increased by half a percentage point. If the period is extended, the rate will be increased by 1 percentage point in total for notifications during the extension period.

What is the timeframe for assets declared and deposited with banks/intermediary institutions to be recorded in commitment accounts?

As for the reported assets, those who make commitments are required to convert the reported amounts into committed assets within 10 days from the date of transfer or deposit of assets abroad and from the date of notification of assets in Turkey.

What Happens If Assets Are Withdrawn Before the Committed Period in Case of Benefiting from the Reduced Tax Rate?

In case of non-compliance with the commitment period by the notifiers, the bank or brokerage institution where the asset is located will collect the tax and late interest that hits this amount by determining the tax amount that was not received on time based on the notification amount, by deduction, and the 15 following the month in which it was collected. It will be paid to the tax office by the end of the day. Additionally, in case of non-compliance with commitments regarding reported assets, no tax evasion penalty will be imposed for taxes not timely assessed.

Is it possible to get a refund or deduction for the tax paid under the Asset Peace Initiative?

The tax paid under this regulation is non-refundable, cannot be deducted as an expense under any circumstances, and cannot be offset against any other tax. Losses arising from the disposal of assets subject to the declaration are not considered expenses or deductions for income or corporate tax purposes.

What is the Advantage of Asset Declaration?

No tax audit or tax assessment shall be conducted whatsoever regarding the amounts corresponding to the declared assets. However, measures required under other legislation are not affected by this regulation. If it is determined that the found base difference arises due to the assets reported within the scope of the article, and if the reported asset amount is equal to or greater than the found base difference, no deduction is made for the base difference. If it is determined that the found base difference arises due to the reported assets and is greater than the amounts of the assets in question, a tax charge is made only on the amount of the difference between Dec. In the event that there is a difference in the basis for taxpayers who have submitted a notification within the scope of the article due to tax investigations or discretionary referral procedures that have started for other reasons other than the reported assets;

• If it is determined that the found base difference arises due to the assets subject to notification and the reported asset amount is equal to or greater than the found base difference, no charge will be made in terms of income or corporate tax and value added tax.
• If it is determined that the found base difference arises due to the assets subject to notification, if this difference exceeds the reported asset amount, a tax charge will be made in terms of income or corporate tax and value added tax only on the amount of the difference Dec.

Can corrections be made to asset declarations?

During the notification period, requests for adjustments regarding the increase or decrease of assets can be made. The correction request will be made to the relevant bank or intermediary institution. However, no correction regarding notifications can be requested after the notification period has expired.