The Grand National Assembly has approved new legislation allowing the repatriation of funds to the country with preferential tax treatment.
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The Grand National Assembly has approved a new law related to 'tax and amnesty on funds'.
The law provides special tax treatment for those who repatriate their funds to Turkey, with tax exemption lasting up to 20 years. The aim is to encourage the return of Turkish capital from abroad.
Turkey's parliament has approved a law granting full tax exemption for 20 years to anyone who transfers funds and profits from abroad to Turkey. The measure aims to attract capital held overseas and strengthen the country's foreign currency reserves.
If you have funds or investments outside Turkey, bringing them back could now become an attractive financial option with this long-term tax exemption. The initiative reflects a genuine economic crisis facing Turkey that affects currency value and domestic inflation, which could be reflected in prices of goods and services.
Mehmet Yılmaz