Asset Peace Regulation

The Law No. 7582 on Amendments to Certain Laws (“Law”), which introduces regulations regarding the declaration and registration of certain assets located in Türkiye and abroad, as well as providing tax advantages concerning such assets, was published in the Official Gazette No. 33270 dated 4 June 2026 and entered into force.

With the provisional Article 19 added to the Corporate Tax Law through the Law, provisions regarding a new “Asset Peace” regulation have been introduced.

• Opportunity to Declare Assets Located in Türkiye and Abroad

With the newly added article to the Corporate Tax Law, individuals and legal entities are granted the opportunity to declare and register their money, gold, foreign currency, securities and other capital market instruments located abroad by notifying banks or intermediary institutions in Türkiye until 31 July 2027.

The declared foreign assets must be brought into Türkiye or transferred to bank or intermediary institution accounts in Türkiye within two months from the date of declaration. Assets physically brought into Türkiye must be documented through a customs declaration.

The regulation does not only cover assets located abroad but also includes money, gold, foreign currency, securities and other capital market instruments that are located in Türkiye but are not recorded in the statutory books of enterprises. Income tax and corporate tax taxpayers may also declare such unrecorded assets through banks or intermediary institutions and record them in their accounts until 31 July 2027.

• Tax Treatment of Declared Assets

The regulation allows declared assets to be recorded in the accounting records of enterprises and, under certain conditions, to be withdrawn from the enterprise at a later stage.

No additional income tax or corporate tax will be calculated due to the declared assets, and such assets will not be taken into consideration in determining the taxable income of enterprises.

However, as a general rule, a tax at the rate of 5% (five percent) must be paid over the declared assets. In other words, if the 5% tax is directly paid on the assets included within the scope of the Asset Peace regulation, the remaining amount will be freely available without any restriction on its use.

Nevertheless, if the declared assets are invested in time deposits or participation accounts, government domestic borrowing securities, lease certificates (sukuk), or venture capital investment fund participation shares, and if the taxpayer undertakes to retain these investments for periods ranging from one to five years, the applicable tax rate will gradually decrease.

Within this scope, the tax rate will be reduced by 1% (one percentage point) for each additional year that the assets remain within the system. Accordingly, if the assets are committed to be held for five years, the tax rate may be reduced to 0% (zero percent).

• Protection Against Tax Audits Provided Upon Fulfilment of Certain Conditions

One of the most significant consequences of the Law is the protection provided against tax audits and additional tax assessments concerning assets duly declared under the regulation.

Accordingly, no tax audit or tax assessment will be conducted with respect to the amounts corresponding to the declared assets, provided that:

• Foreign assets are declared within the legal period and brought into Türkiye or transferred to bank or intermediary institution accounts in Türkiye within two months from the declaration date;

• Domestic unrecorded assets are declared and documented through banks or intermediary institutions;

• The calculated taxes are paid within the prescribed period; and

• Other conditions stipulated under the Law are fulfilled.

The regulation also provides an important advantage regarding ongoing or future tax audits. Accordingly, if it can be demonstrated that tax base differences identified as a result of an audit arise from the declared assets, additional tax assessments may not be imposed on such amounts, subject to the fulfilment of certain conditions.

In this respect, the regulation may contribute to reducing tax-related risks arising from previous periods.

However, this protection is not absolute. The benefits provided under the regulation cannot be utilized if:

• The declared assets are not brought into Türkiye or not transferred to the relevant accounts within the prescribed period;

• The calculated taxes are not paid on time;

• Investment commitments providing tax advantages are not fulfilled; or

• Other conditions stipulated under the Law are violated.

Furthermore, the regulation does not eliminate obligations and measures that may apply under legislation concerning the prevention of money laundering, prevention of financing of terrorism, and other relevant legal regulations.

The relevant amendments entered into force on the date of their publication in the Official Gazette.