Restructuring opportunity to pay TL 521 billion to tax offices
In case of promulgation of the “public debt structuring bill”, which is still being discussed in the Parliamentary Committee on Plans and Budgets, it is expected that the tax offices will be able to collect 43.5 billion lire and 47.8 billion lire. collected by the Social Security Institution (SGK).
The Impact Analysis of the Bill for the Restructuring of Some Credits and Modification of Some Laws was carried out.
The proposal includes the structuring and payment of debts with the public and some professional organizations in the nature of public institutions. All public accounts receivable and payable on or before December 31, 2022 will be considered within the scope of the restructuring.
According to the compilation made by the AA correspondent from the impact analysis, the scope of the restructuring provisions of the proposal with respect to the finalized receivables includes a total of receivables of TL 521 billion that must be paid to tax offices.
DEBTS OF 4.5 BILLION TL LESS THAN 2 THOUSAND TL WILL BE AVOIDED
The number of debtors before the tax offices in the scope of the proposal was determined at 14 million 156 thousand 341 people. With the proposal, it is expected to erase debts below 2 thousand liras, and the number of debtors increases to 6 million 464 thousand 675 people, when 7 million 691 thousand 666 people whose debts will be canceled are deducted in this context.
With the regulation, the debt of 4.6 billion lira of 7.6 million people who owe to the tax office will be cancelled.
It is considered that 43.5 billion lira can be collected, taking into account the amount of the request and the collection related to the receivables that have been finalized under the latest restructuring law.
Although the possibility of restructuring has been introduced for receivables that are not finalized or are in the litigation phase, the number of cases that may fall within the scope of the restructuring provisions with respect to receivables in stage of litigation is 215 thousand 511 for the office tax The amount of the tax and the fine in dispute in the pending cases was determined at 181.2 billion liras.
SSI ACCOUNTS RECEIVABLE
While SGK’s finalized receivables are within the scope of regulation, a total of TL 196 billion receivables payable to SGK are assessed within this scope.
With the norm, the debts of 3 million 277 thousand 5 workers and 14 million 613 thousand 574 insured with debts with the Institution will be restructured.
When the 332,450 workplaces whose debts will be canceled below 2,000 liras are discounted, the number of workplaces will be 2,944,555.
Under the latest restructuring law, 47.8 billion lira is expected to be collected, taking into account the amount of the request and the collection related to the accounts receivable that have been finalized.
Within the scope of the structuring provisions in respect of the terminated receivables, an administrative fine of 4.8 billion lira to be paid to the SGK is also included.
Administrative fines imposed on foreigners who enter Turkey without permission, but are unable to collect due to being abroad, will also be annulled. In this context, 165 million 137 thousand 779 liras of debt of 12 thousand 506 people will be cancelled.
Although the debts collected by those who made deductions from the price of the products sold by the members of Tarım Bağ-Kur due to their premium debts and not transferred to the Institution, are included in the scope of the restructuring, there are a total of 81 million 708 thousand 828 liras receivable from 10 thousand 304 debtors with capital increase and arrears.
LATE CHARGES ON TUITION LOANS
The regulation also updates the amount of the income exemption provided to young entrepreneurs. If the amount of income that can be exempted is determined as the second tranche of the income tax rate (150 thousand lira by 2023), the fiscal cost of this exception is estimated to be 1.1 billion lira in 2023 and regulation will cost an additional 500 million lira.
The proposal also cancels the surcharge for delinquency of registration and contribution loans, whose repayment has been initiated or has been communicated to the Treasury for follow-up. In this context, 4,500 million liras of increased debt arrears will be forgiven for a total of 1,431,535 people followed by the tax offices.
With the offer, it is possible to refund the taxes deducted from the athlete’s salary. It is estimated that the regulation will have a fiscal cost of approximately 1 billion lira.
The regulation also paves the way for the use of equivalent items and reusable parts in the insurance industry.
It is estimated that a total of 3.8 billion lira will be saved, 1.4 billion lira for traffic insurance policies and 2.4 billion lira for car insurance policies. (AA)