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Great opportunity: The debt of many Turks citizens will be cut down

This concerns millions of citizens in debt. The restructuring law, which puts a smile on the face of the citizens, also offers a great opportunity to those who owe taxes. The Revenue Administration has prepared a draft communiqué describing the opportunities for structuring, the payment schedule, especially the facilities and payment facilities that will put millions of citizens at ease. Here are the details of tax debt restructuring…

Under the law, all debts to the state can be restructured until 31 December 2022. Those who want to take advantage of this opportunity must apply to the relevant institution by 31 May.

According to the news of Hazal Ates from Sabah; The first installment of the configuration amount will be paid in 48 equal installments until 30 June, and the other installments in monthly periods following this date.

GREAT OPPORTUNITY FOR THOSE WHO HAVE THEIR CASE IN THE TAX COURT

The structuring law also offers a great opportunity for those who have their case in the tax court. For example, the lawsuit filed by the taxpayer, who was charged ₺680 thousand of tax and a double penalty in the VAT examination for the period of February 2020, has not been decided as of the publication date of the law.

In the event that 50% of the original tax is paid, the D-PPI amount, which is calculated instead of accrual and delay increase, within the period stipulated in the law, the remaining 50% of the tax and the delay increase will be waived.

Accordingly, if the debt of ₺426 thousand 275 is paid in the manner stipulated in the law, the collection of ₺1 million 698 thousand 436 will be waived.

The taxpayer, who was notified of a special irregularity penalty of ₺3400 for not making the notification in the electronic environment, which was notified in October 2022, will deposit half of this amount within the scope of the restructuring. Thus, the collection of a special irregularity fine of ₺1700 will be waived.

CONVENIENCE FOR THOSE WHO OWE PROPERT TAXES

Property tax, environmental cleaning tax debts, cash payments, and installment options provide great convenience to citizens.

Those who do not report real estate tax as of the date of publication of the law, although it should be submitted on 31 December 2022, or who pay their taxes incompletely, will be able to avoid penalties by paying the amount to be calculated based on the D-PPI monthly change rates instead of the late interest and increase.

Those who want to benefit from this must submit their tax declarations for the periods covered by the application petition to the relevant municipality until May 31, 2023.

ATTENTION TO THE TAX BASE INCREASE

For example; The income tax base declared for 2019 by the taxpayer, whose commercial income is determined by the simple method, is ₺85 thousand, and ₺42 thousand of the tax base consists of the commercial income determined in the simple method, and ₺43 thousand of housing rental income.

The tax base calculated according to the declaration of this taxpayer, who has submitted the declaration of the aforementioned year within the statutory period, will be ₺25 thousand 500, and the minimum base amounts determined for the taxpayers who keep books on the basis of the operating account will be taken as a basis in the determination of the minimum base to which they will increase.

Accordingly, since the minimum tax base amount cannot be lower than ₺66 thousand 400, this amount will be taken into account in the calculation. The income tax that the taxpayer has to pay due to the increase will be ₺9 thousand 960. The said tax can be paid in cash or in 12 equal installments.

Source: MSN / Prepared by Irem Yildiz

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