Turkey has announced details of arrangements for tax obligations
which fall during a fiscal holiday, running from 1 July 2016 to 20
July 2016. Tax statements due during this period must be submitted
by 27 July 2016. The grace period for legal or executive periods
which expire during the fiscal holiday has reduced from seven days
to five days in 2016.
The Notification (No.2) Amending the General Notification on
Application of Fiscal Holiday (No.1) was published in Official
Gazette number 29680 on 10 April 2016, entering into effect on the
Key arrangements for 2016 include:
Tax statements due on or between 1
July 2016 and 20 July 2016 must be submitted by 27 July 2016.
Payments must be made by 28 July 2016.
If the legal or executive period
lapse on or between 1 July 2016 and 20 July 2016, the period will
be deemed to have lapsed at the close of business hours on 27 July
2016. This grace period after the fiscal holiday is reduced from
seven days in previous years, to five days in 2016.
The deadline for tax statements due
on 25 July 2016 will not be extended. Payments for such statements
continue to be due by 26 July 2016.
No exemptions or grace periods exist
for obligations related to:
Private consumption tax.
Banking and insurance transactions
Special communication tax.
Tax on games of chance.
Deadlines for tax statements and
payments are not extended for forced sales by auction and auction
by certain specified government agencies (part I/B-6.2.2., I/B-6.1
of the General Notification on Application).
Please see this link for full text of the Amendment
Regulation (only available in Turkish).
Information first published in the MA | Gazette, a fortnightly legal update newsletter
produced by Moroğlu Arseven.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
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