Nabati announced details of debt restructuring

In a statement after the cabinet meeting, President Erdoğan said: “We are preparing a bill that will restructure the public accounts receivable of our institutions, such as tax offices, SGK and municipalities.”

The Minister of Treasury and Finance Nureddin Nebati spoke about the details of the restructuring package at the İzmir Meeting with the Business World program.

“Taking into account the needs and demands of our people and our economy, the preparation of the Bill of Lading has been completed, also indicated by our President, in order to alleviate the obligations with the public and to be paid in long-term installments. . Hopefully, we hope that it will be placed on the agenda of our Parliament as soon as possible” and he conveyed the details as follows;

-The law will include both the structuring provisions and the provisions of the various novelties in the tax legislation.

-With the provisions regarding structuring, we carry out procedures regarding the restructuring of public credits that must be paid to the Treasury, Customs Directorates, Social Security Institute, Municipalities and Metropolitan Municipalities, Special Provincial Administrations and Investment Monitoring and Coordination Departments .

THE PENALTY FOR NON-PAID DEBT WILL BE ELIMINATED

-With the proposal, we bring many institutions and public bodies, especially tax and premium debts, closer to paying unpaid debts on time by eliminating sanctions.

-I should also point out that we include administrative fines, including judicial fines, which have not been contemplated in other restructuring laws up to now, within the scope of the structuring.

-Of course, we update your interest rates with a low rate, making it easier to pay.

‘ALL KINDS OF DEBT WILL BE STRUCTURED’

In this restructuring law, no matter what kind of debt needs to be paid to the tax office, it will be restructured. We have an exception and they are the temporary taxes to be paid for the year 2022. If they are not paid at the time of filing the return, we have not been included in the coverage because they are abandoned.

-In addition, we provide the opportunity to pay by ending disputes in the defendant’s tax and premium files.

– In the offer we also include the rules that allow the increase of the tax base and the correction of the commercial records. For the years 2018 to 2021, our businesses will not be subject to tax inspection and settlement by increasing the tax base and income, corporate, VAT and income withholding taxes.

– Let me say the following in advance; If they pay the tax on the increased tax bases in advance, then the tax will be reduced by 10 percent.

PAYMENT TERMS IN INSTALLMENTS ARE EXTENDED TO 4 YEARS

-An important novelty in this offer is that we have extended the installment payment terms to 4 years. Thus, our citizens will be able to pay their debts structured in 48 installments in monthly installments over 4 years. We have kept the long payment term, but we also bring advantages for those who want to pay in a shorter time.

– If structured debts are prepaid, we waive 90 percent of the Home PPI amount, which we’ve already calculated using small rates. If the restructured debt is an administrative penalty, we also provide a discount of 25 percent of the original account receivable.

We have already prepared the environment to liquidate the debts of our citizens who have an executive debt that does not exceed 2 thousand liras. Now, we erase the debts of our citizens, who have debts of any kind, such as taxes, fines, interest, that do not exceed 2 thousand liras.

DEBTS NOT EXCEEDING 2 THOUSAND LIRA WILL BE LIQUIDATED UNCONDITIONALLY

– If the sum of a person’s debts to be paid before December 31, 2022 does not exceed 2 thousand lira, we cancel the debts and waive our receivables without seeking any conditions, for once within the scope of this regulation .

-Then, because of these debts, our tax offices will not follow up, and our citizens will not be subject to follow up.

-We increased the amount of the young entrepreneur exemption in the Income Tax Law. According to the current regulation, within the scope of the exemption, 75 thousand lira of income tax payers who start their business for the first time in three accounting periods are exempt from income tax.

-We increased the amount in question to 150 thousand liras by 2023 and ensured that the income tax rate is increased in parallel with the amount of the second tranche each year. Thus, as the revaluation rate of the tranches increases in the following years, this exception will increase with it.

EXCLUSION OF STAMP TAX UNTIL THE END OF THE YEAR

– We are introducing a stamp duty exemption that will apply until the end of this year, in respect of housing and construction works tendered by TOKİ together with housing.

-We limit the total of the minimum fixed fee charged in the sale of real estate to a certain amount through the extinction trials of the company.

PREMIUM SUPPORT FOR TOURISM EMPLOYEES

– In order to encourage tourism, we provide premium SSI support in case our tourist facilities operate in summer and winter seasons. In line with the goal of expanding tourism to 12 months and throughout the country; We are organizing a new support system so that personnel working in the tourism sector can work all year round and make the hiring of qualified personnel permanent.

– We will provide premium support in the months that we determine within the scope of winter or summer tourism for insured employees who work in accommodation establishments that have a tourism company certificate that operates throughout the year and that are within the scope of the Program of Sustainable Tourism of Turkey and have the third stage certificate of the criteria of this Program.

– Within the scope of this support, the Treasury will cover all the premiums of the insured and the employer’s part calculated on the basis of the declared premium, provided that this does not exceed twice the lower limit of income subject to premium.

EXPENSES CAN BE SHOWN AFTER THE PURCHASE OF SHARES

– We allow design and R&D support staff to increase their workday in the center and outside the region to 100 percent.

– We enable the suspension and reactivation of BAĞ-KUR insurance periods.

– We provide the opportunity to write off financial expenses incurred due to the purchase of subsidiary shares and shares by the transferee institution after the transfer.

On the other hand, we are paving the way for equivalent items and reusable parts to be used in the insurance industry.