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January 2, 2020 Turkey further extends time period for Asset Peace Incentive provisions The Turkish Government has further extended the time period for the asset peace incentive provisions set forth in Temporary Article 90 of Income Tax Code. The previous amendments on the same provision occurred on 17 July 2019.1 According to the Presidential Decree No. 1948 published in the Official Gazette No. 30994 dated 30 December 2019, the below-mentioned notification and declaration periods for activities related to the “Asset Peace Incentive” defined in Paragraphs 1, 3 and 6 of Temporary Article 90 of Income Tax Code have been extended for six more months following the previous expiration dates.
Endnote 1. See EY Global Tax Alert, Turkish law including amendments on Income Tax, Corporate Tax Law and Customs Law has entered into force, dated 22 July 2019. For additional information with respect to this Alert, please contact the following: Kuzey Yeminli Mali Müsavirlik ve Bagimsiz Denetim A.S. Istanbul
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