Additional Duration Opportunity for Re-Adjustment

The “General Communique of the Law no. 7143 on Re-adjustment of Taxes and Some Other Debts” (the “Communique”) has published by the Ministry of Treasury and Finance (the Directorate of Revenue Administration) on 05.01.2019 dated Official Gazette. Herein this Communique has determined the procedure and principles of time extension for two months that is given for the re-adjustment.

According to this, the debtors who could not make their payments until 28 December 2018 and lost the right to apply for re-adjustment, shall benefit from the re-adjustment by making related payments with late payment interest until 28 February 2019.

No written application is needed to benefit from the re-adjustment. Below-mentioned elements should be covered to benefit from the time extension:

• The debts should be re-adjusted under 7143 numbered Law;
• Breach of the Law by not paying the amounts that need to be paid until 28.12.2018;
• The aforesaid amounts that lead the breach, shall be paid with late payment interest that is accruing from the last official date of payment to the payment date (including both dates) until 28.02.2019.

You may access the full text of the published regulation via this link.