Parliament this week will discuss asset reconciliation regulations and tax advantage proposals for Istanbul Financial Centre companies
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The Turkish Grand National Assembly faces a busy agenda this week. The General Assembly will discuss regulations related to 'asset reconciliation'. Additionally, draft laws providing tax benefits to companies within the Istanbul Financial Centre are being considered. In addition, regulations regarding the extension of Social Security Institution (SGK) debt installments from 36 months to 72 months will also be on the agenda. These regulations are expected to have significant economic impacts. In particular, the asset reconciliation law has previously provided opportunities for businesses and individuals to regularize their financial situations.
Parliament will discuss this week the asset reconciliation law, tax incentives for Istanbul Financial Centre companies and the increase of Social Security debt installments from 36 to 72 months. The asset reconciliation aims to attract domestic and foreign cash, gold and foreign currency to the economy.
The increase of Social Security debt installments to 72 months will significantly reduce monthly obligations for businesses and workers. The legal framework for those wishing to benefit from the asset reconciliation will be clarified this week and application conditions will be determined.