Turkey Enacts Wealth Amnesty and Corporate Tax Reforms
On June 20, 2026, Turkey's Official Gazette published significant legislative changes, including a new Wealth Amnesty program and amendments to corporate tax regulations. These reforms aim to attract foreign investment and encourage the repatriation of assets held abroad.
Wealth Amnesty Program
The Wealth Amnesty allows individuals to declare previously undisclosed assets, both domestic and international, without facing penalties. Assets declared by July 31, 2027, will be subject to a tax rate ranging from 0% to 5%, depending on the holding period. This initiative is designed to integrate unregistered assets into the formal economy and boost financial transparency.
Corporate Tax Amendments
Key changes to the corporate tax structure include:
- Extension of installment periods for public receivables from 36 to 72 months.
- Introduction of a 20-year income tax exemption on foreign-sourced income for individuals relocating to Turkey, provided they have not been tax residents in the country for the past three years.
- Reduction of corporate tax rates to 12.5% for companies engaged in industrial and agricultural production.
These measures are part of Turkey's broader strategy to enhance its appeal as a destination for international investors and to stimulate economic growth by integrating previously unregistered assets into the formal economy.
For more detailed information, refer to the official publication in the Official Gazette.
