Innovations Provided By Law On The Restructuring Of Some Receivables And Amending Some Laws

“Law on the Restructuring of Some Receivables and Making Amendments in Some Laws” numbered 7256, has entered into force after being published in the Official Gazette No. 31307, and dated 17 November 2020.

Changes have been made with that Law such as:

  • Updating the D-PPI (Domestic Producer Price Index) rate instead of the delay increases and interests due to unpaid taxes and other debts,
  • Deletion of all tax penalties (tax loss penalty),
  • Deletion of 50% of the irregularity and special irregularity penalties not based on the original tax,
  • Updating the D-PPI rate instead of the interests due to Motor Vehicle Tax debt,
  • Updating the D-PPI rate instead of delay increases due to education loan debts,
  • An additional 90% discount from the amount calculated at the D-PPI rate for paid in advance,
  • If traffic fines and other administrative fines are paid in advance, 25% discount on originals,
  • Payment of the configured amounts in paid in advance or in equal installments of 6, 9, 12, or 18 in two-month periods,
  • Deleting debts whose original maturity is 100 TL or less, whose maturity is before 31/12/2014

If examined in detail;

With the regulation, if the payment of the amount to be calculated based on the domestic price index (D-PPI), the original taxes that have not been paid although they are due as on August 31, 2020 (including this date) the collection of all related public receivables such as default interest, delay increase, tax penalties and all delay increases related to these penalties will be waived.

Also, without opening a separate workplace, without using industrial type or mass production machines and tools, the goods they produce in their house those who sell through electronic media will be able to benefit from the exemption of tradesmen in income tax for their income from 01.01.2021 if they meet certain conditions.

In addition, if the insured benefiting from the unemployment benefit does not enter a new job within 90 days after being dismissed, the long term insurance premiums for the period they benefit from the unemployment benefit are covered by the unemployment insurance.

During the pandemic period, employers and employees who put their employees to short work or leave their employees on unpaid leave due to the decrease in economic activity during the pandemic period benefit from the normalization will support brought by Law No. 7252 to the normalization. President has been authorized to extend it.

In the light of all these changes, the taxpayers who demand the restructuring of their tax debts under the Law; must apply by 31 December 2020.

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