New Asset Peace Law Has Entered Into Force in Turkey
ASSET PEACE 2016
Long after the Asset Peace Act No: 5811, which had been first introduced in Turkey on November 22, 2008 with the of legalizing certain unrecorded assets and encouraging their injection into Turkish economy, a new Law
on that can be called as the 3 rd Asset Peace Act entered into force on August 19, 2016
As a part of the fiscal stimulus response to the global financial crisis, Turkey had introduced a Law No: 6736 which legalized certain unrecorded
assets and encouraged their injection into Turkish economy.
The application date of this law, which aimed to encourage individuals and companies to declare their unrecorded assets either in or out of Turkey, was to originally expire 31 12, 2016
The assets that could be declared under the Asset Peace Act include cash, foreign currency, gold, securities, other capital market instruments,
And please note despite previous asset peace law that there is no tax payment for this amounts that brings to Turkey.
Cpa Evren Özmen