Turkey Tax Agency Posts Guide, FAQs on Asset Declarations Under Asset Peace Initiative

The Turkish Revenue Administration Sept. 14 posted online a guide and FAQs concerning asset declarations under the Asset Peace initiative. The agency explains: 1) that individuals and entitles can transfer cash, gold, foreign exchange, securities, and other capital market instruments located outside Turkey, for recording in Turkey; 2) that individuals and entities can record these types of assets, as well as real property, that are located in Turkey, but currently unrecorded; 3) that the deadline for recording domestic or foreign assets is March 31, 2023; 4) the tax rates that apply to declared assets; 5) the tax collection and remittance ...