TRTurkey’s Revenue Administration announced a new scheme allowing individuals and companies to repatriate overseas assets into the country by July 31, 2027. Under the 'asset peace' initiative, taxpayers can notify banks or brokerages of their foreign-held assets, including cash, gold, securities, and unregistered local assets. A 5% prepayment tax applies, with lower rates for assets pledged in specific financial instruments. Additional measures include a 20-year tax exemption for expats returning to Turkey, wage tax exemptions for qualified workers, and corporate tax incentives for industries like finance, manufacturing, and agriculture. These policies aim to boost investment, strengthen the formal economy, and encourage international trade.
Bias read (Center): The article presents factual information about economic policy reforms without overt ideological slant. It outlines regulations and tax incentives without emphasizing partisan perspectives, maintaining neutrality in framing the subject matter.
