The Turkish Revenue Administration (GİB), under the Ministry of Treasury and Finance, has issued General Communiqué on Collection (Series B, No. 20), published in the Official Gazette dated June 16, 2026 (No. 33282). The Communiqué allows tax debts owed to tax offices to be deferred and paid in installments at a rate lower than the standard deferral interest rate, over a longer term. In this article, we summarize the scope of the regulation, the application requirements, how the number of installments is determined, and the final application deadline based on current legislation.

Purpose of the Communiqué

The purpose of the regulation is to allow taxpayers to defer their debts to tax offices at an interest rate lower than the current standard deferral interest rate. This is intended to help taxpayers experiencing cash flow difficulties pay off their debts over a longer term.

Debts Covered by the Communiqué

The Communiqué covers all public receivables that were past due as of June 5, 2026, remained unpaid as of the date of the Communiqué, and are followed up by tax offices.

Receivables Outside the Scope

The following are not covered by this Communiqué:

• Special Consumption Tax (SCT)
• 2026 provisional income and corporate tax installments
• Penalties, late payment interest, late payment surcharges, and stamp duties related to these taxes

Application Deadline and Channels

The final application deadline is August 31, 2026 (inclusive). Applications may be submitted through the following channels:

• Digital Tax Office (dijital.gib.gov.tr)
• GİB Online Tax Office (www.gib.gov.tr)
• e-Devlet / e-Government portal (www.turkiye.gov.tr)
• In person, by mail, or in writing at the relevant tax office

A separate deferral request must be filed for each debt. Applications may be submitted electronically; for applications sent by mail, the date the tax office receives and registers the application is taken as the reference date.

How Is the Number of Installments Determined?

The Communiqué sets out three separate methods for determining the number of installments:

1. Based on Severe Financial Hardship

The number of installments varies according to the liquidity ratio, calculated based on the taxpayer’s commercial balance sheet or business account records:

• Liquidity ratio of 0.50 or higher: 36 equal installments
• Liquidity ratio below 0.50 but at least 0.30: 48 equal installments
• Liquidity ratio below 0.30: 72 equal installments

Debtors who do not fall under this category may pay their debt in 48 equal installments.

2. Based on the Type of Receivable

Tax loss penalties, late payment interest, late payment surcharges, and related stamp duties arising from Banking and Insurance Transactions Tax (BSMV) and VAT withholding are subject to 12 equal installments.

3. Based on the Legal Status of the Debtor

Debts of legal entities more than half owned by special provincial administrations, municipalities, investment monitoring and coordination directorates, or their affiliated organizations — as well as debts of parties responsible for these entities — are subject to 72 equal installments.

Debtors may request fewer installments than they are entitled to, but not more.

Deferral Interest Rate and Collateral Requirements

The annual deferral interest rate applicable to debts deferred under this Communiqué is 29% (the standard deferral interest rate is currently 39%).

Regarding collateral requirements:

• No collateral is required for debts up to and including TRY 10 million.
• For the portion exceeding TRY 10 million, collateral of at least 50% of the excess amount is required.

Calculating the Debt and Installment Amounts

The total debt amount is determined by adding late payment surcharges accrued up to the application date to the principal receivable. Installment amounts are divided equally; any fractional kuruş/lira amounts are added to the first installment. Deferral interest is shown separately in the payment plan and at the end of each installment period.

Authority to Grant Deferral and the Payment Plan

Deferral requests are finalized by the relevant tax office directorates regardless of the debt amount. The approved payment plan shows the installment amounts, deferral interest amounts, and due dates separately.

Late or Missed Installments and Breach of the Deferral

• Failure to pay an installment (including deferral interest) on time, or paying it in part, constitutes a breach of the deferral.
• Up to 2 installments may be missed within a calendar year.
• Any installment not paid on time or paid in part must be paid, together with the late payment surcharge, within the following installment period.
• If the final installment is not paid on time, the deferral is cancelled.
• If missed installments are not paid with interest within the required period, the deferral becomes invalid and separate collection proceedings are initiated for the debt.

Other Important Points

• Heirs, guarantors, company partners, and legal representatives may benefit from the Communiqué for the amount they are responsible for.
• Debts already restructured under special laws and still in progress cannot be deferred again under this Communiqué.
• For a debt not to appear on a debt status certificate, at least 10% of the deferred debt must have been paid.
• Certain receivables, such as motor vehicle tax and traffic administrative fines, may also be deferred under this scope; a roadworthiness/airworthiness certificate may be issued following deferral, but the full debt must be paid before the vehicle can be sold or transferred.
• Debts that have already benefited once from the 29% deferral interest rate under this Communiqué cannot be granted a second 29% deferral, even for new debts that later become overdue; the standard rate in force at that time will apply instead.

Why It Matters

This Communiqué offers taxpayers a valuable opportunity to ease cash flow pressure, regularize their relationship with the tax office, and reduce the risk of enforcement or seizure proceedings. The reduced deferral interest rate (29%) and installment terms of up to 72 months, depending on the debtor’s legal status, represent a concrete solution worth evaluating for businesses carrying accumulated tax debt. It is important to act on the assumption that the application deadline of August 31, 2026 will not be extended.

At Mete CPA & Auditing, we support you throughout the entire process — from assessing your debt situation and determining the most suitable installment option, to filing the application and tracking your payment plan. Contact us to review your situation regarding tax debt deferral.

The regulation widely known as “Asset Peace” (Varlık Barışı) entered into force through Law No. 7582, published in Official Gazette No. 33270 dated 4 June 2026. The General Communiqué (Series No. 1) setting out the implementation procedures was published in Official Gazette No. 33300 dated 4 July 2026. This is Turkey’s eighth Asset Peace regime, introduced through Provisional Article 19 added to Corporate Tax Law No. 5520. In this article, we summarize the scope, tax rates, declaration deadlines, and key points to watch under the current legislation for individuals and legal entities eligible to benefit from this regulation.

What Is Asset Peace?

Asset Peace is a regulation that allows assets held abroad, or assets located in Turkey but kept off the statutory books, to be declared and brought into the formal economy upon payment of a defined tax. Unlike previous editions, the 2026 regulation introduces a tax rate that decreases progressively depending on how long the declared assets are held in specific Turkish financial instruments.

Assets Within Scope

The following asset types may be declared under this regulation:

• Cash
• Gold
• Foreign currency
• Securities
• Other capital market instruments

Important: Real estate (immovable property) falls outside the scope of this regulation. However, foreign real estate may be converted into a qualifying asset type and brought into Turkey before the deadline.

The regulation covers two separate asset groups:

1. Assets held abroad: Cash, gold, foreign currency, securities, and other capital market instruments held abroad by individuals and legal entities.
2. Undisclosed domestic assets: The same asset types located in Turkey but not recorded in the statutory books of income or corporate taxpayers.

Who Can Benefit?

Both individuals and legal entities (companies, foundations, and similar bodies) can benefit from this regulation. Persons with no income or corporate tax liability may also benefit by declaring qualifying domestic assets.

Declaration Deadline

The deadline for declaring assets to banks or brokerage firms is 31 July 2027. The President is authorized to extend this deadline, in periods not exceeding six months each, up to a total of one year.

• Foreign assets may be declared between 4 June 2026 and 31 July 2027.
• Declared foreign assets must be transferred to a Turkish bank or brokerage account, or physically brought into the country, within 2 months of the declaration date.
• Undisclosed domestic assets must be deposited with a bank or brokerage firm on the declaration date itself.

2026 Asset Peace Tax Rates

The general tax rate collected by the bank or brokerage firm on declared assets is 5%. However, this rate decreases progressively if the declared assets are committed to be held in one of the eligible instruments below for a defined period:

• 1-year commitment: 4%
• 2-year commitment: 3%
• 3-year commitment: 2%
• 4-year commitment: 1%
• 5 years or more: 0%

Instruments eligible for the reduced rate: time deposit accounts, Government Domestic Debt Securities, lease certificates (sukuk), and venture capital investment funds. A 5-year commitment to a venture capital investment fund also secures the 0% rate.

Conversion period: To benefit from the reduced rate, the declared amount must actually be converted into the committed instrument within 10 days — from the transfer/deposit date for foreign assets, or from the declaration date for domestic assets. If conversion is not completed within this period, the reduced rate is lost and the shortfall is collected together with late payment interest.

Early declaration advantage: Declarations made by 31 December 2026 are subject to no rate increase whatsoever. Declarations made between 1 January 2027 and 31 July 2027 carry a 0.5-point increase. If the deadline is extended, declarations made after the extension carry a 1-point increase in total.

Tax Protections Provided

For amounts corresponding to properly declared assets:

• No tax audit or tax assessment of any kind will be conducted.
• No tax penalty or administrative fine will be imposed.
• If a tax base difference arising from an unrelated audit is equal to or less than the declared amount, no assessment is made for that difference.

Limits of the Protection

This protection is provided solely under Turkish tax legislation. The following matters remain unaffected and fall outside the scope of this regulation:

• Money laundering and terrorist financing offenses (Law No. 5549),
• Measures required under the Law on the Protection of the Value of Turkish Currency,
• Measures required under the Capital Markets Law, Customs Law, and the Law on the Prevention of Smuggling,
• Tax obligations arising under the domestic law of the foreign country where the asset originated.

Additional Requirements for Companies

Declared assets must be recorded in the statutory books; for taxpayers subject to balance-sheet accounting, these amounts must be tracked in a special fund account that cannot be withdrawn from the business for at least 2 years. In addition, a company’s legal representatives, shareholders, or attorneys acting under a power of attorney or representation agreement executed before 4 June 2026 may also declare foreign assets held on the company’s behalf, provided the required conditions are met.

Relationship with the 20-Year Tax Exemption

Repeated Article 20/D of the Income Tax Law, introduced under the same omnibus law, grants a 20-year income tax exemption on foreign-source income to individuals who become Turkish tax residents on or after 1 January 2026. The two regimes are complementary: a person who repatriates assets under Asset Peace and also qualifies for this exemption can both declare their assets at a low or zero tax rate and avoid Turkish tax on their foreign-source income for the following 20 years.

Important Note: Asset Peace Is Not a Tax Amnesty

Asset Peace does not cancel previously accrued tax debts. It is a separate mechanism that allows an asset held abroad or kept off the books to be brought into legal record upon payment of a defined tax. Banks also remain subject to know-your-customer (KYC) and source-documentation obligations under Law No. 5549, so supporting documents regarding the source of the asset may still be requested.

At Mete CPA & Auditing, we manage your Asset Peace declaration process in full compliance with current legislation — from selecting the right tax rate to tracking declaration and transfer deadlines. Contact us to review your situation.

Dear visitors, in this guide, we will cover the process of limited company formation, 2026 costs, required documents, and all legal stages you need to be aware of.

In a limited company, shareholders and managers have their own legal identities separate from the company itself. Even if the company consists of only one person as the sole shareholder and manager, it remains a distinct legal entity.

This legal distinction means the company can enter into contracts, incur debts, or be sued in its own name. In the event of legal action or debt, managers and shareholders are not personally liable with their private assets (unless there is misconduct or a personal guarantee). Earnings are legally the property of the company, not the individuals.

If you wish to manage your accounts securely and complete the formation process—which typically takes 3 business days to a week—in just 1 business day, you can contact Mete CPA & Auditing at your convenience.

What is a Limited Company?

A limited company (LTD) is a business structure where the company’s finances are separate from your personal finances. Profits belong to the company after taxes are paid and can be distributed among partners based on their share capital. A minimum capital of 50,000 TRY and at least one shareholder are required for formation.

Mandatory Bodies

A limited company must have two mandatory bodies to operate legally: the General Assembly and the Manager(s).

General Assembly

The General Assembly is the primary decision-making body. It handles appointments of managers, amendments to the articles of association, and strategic business decisions. Shareholders meet periodically to review financial and administrative affairs.

Managers

The management of the company is carried out by the manager(s) appointed by the General Assembly. Authorized managers have full authority within legal limits. The General Assembly holds the power to dismiss and replace any manager who fails to perform their duties.

Advantages and Disadvantages

Advantages

• Protection of Personal Assets: Your personal assets are not at risk if the business incurs debts.
• Financial Control: Maintain full control over your business finances without third-party interference.
• Credibility: Limited companies are viewed more favorably by suppliers, banks, and corporate clients.
• Fixed Taxation: Benefit from a fixed corporate tax rate (25%).
• Flexibility: Easily increase the number of partners or transfer shares as the business grows.

Disadvantages

• Liquidation Procedures: The closing process is subject to strict legal and tax audits.
• Higher Costs: Accounting, bookkeeping, and incorporation expenses are higher compared to sole proprietorships.

If you are considering a sole proprietorship, please visit our Sole Proprietorship Guide.

Required Documents

• Application petition and Chamber declaration,
• Passport-sized photos and original IDs,
• Workplace rental contract,
• Power of attorney for your CPA.

2026 Formation Costs

For 2026, the estimated cost of establishing a limited company is as follows:

• Formation Power of Attorney: ~2,150 TRY
• Notary Expenses: ~5,750 TRY
• Signature Circular: ~2,250 TRY
• CPA Power of Attorney: ~1,650 TRY
• Stamp Duty (Tax Office): ~1,000 – 2,500 TRY
• Chamber of Commerce Registration: ~12,500 TRY

Mete CPA & Auditing helps you open your limited company in just 1 business day.

In this guide, we will cover all the critical steps you need to know when stepping into entrepreneurship, such as the company incorporation process, types of companies, current 2026 incorporation costs, and required documents.

When you decide to establish your company as a capital company, the processes are completed within 1 business day under expert guidance. According to current legal regulations, the minimum capital amounts are as follows:

• Limited Liability Company (LLC): 50,000 TL
• Joint-Stock Company (JSC): 250,000 TL

Important Information: When establishing a limited liability company, the entire capital does not need to be ready initially; this amount can be paid within 24 months. In joint-stock companies, at least 1/4 of the capital must be blocked in the bank during the incorporation phase.

Step-by-Step Company Incorporation Process

1. Choosing a CPA (Certified Public Accountant)

After deciding on the company type, a CPA becomes your biggest helper. They are your professional guide who will manage all financial processes, tax returns, and official notifications of your business starting from the incorporation stage.

2. Determining Incorporation Details

While your CPA is preparing the articles of association, the following details are finalized:

• Company Title: The name you choose must not be in use by another company throughout Turkey.
• Company Address: You must inform your CPA of your preference for a lease agreement, virtual office, or home office.
• Field of Activity: The sectors in which the company will operate (NACE codes) are integrated into the articles of association.
• Managers and Representatives: It is determined who will officially and legally manage the company.

3. MERSIS Registration and Trade Registry

The prepared articles of association are uploaded to the MERSIS system. After approval, the registration process is carried out at the relevant Trade Registry Directorate. Following the registration, the tax office inspection process is initiated.

Required Documents for Company Incorporation

• Identification Document: TR Identity Cards of the shareholders.
• Photograph: 2 biometric/passport-sized photographs.
• Signature Declaration: Notarized signature sample of the company authorized person.
• Power of Attorney: Incorporation power of attorney given to the CPA for fast tracking of the procedures.

2026 Company Incorporation Costs

Company incorporation expenses (with 50% increased and rounded estimates) are as follows:

• Sole Proprietorship Incorporation Cost: ~5,500 TL – 7,500 TL
• Limited Liability Company Incorporation Cost: ~22,500 TL – 30,000 TL

See also:

• How to Form a Sole Proprietorship and What Are Its Advantages?
• How to Establish a Limited Liability Company and What Are the Requirements?

As Mete CPA & Auditing, we meticulously prepare your articles of association, manage all bureaucratic processes, and make you an official business owner within 1 business day. You can contact us for professional support.