It is expected to collect 100 billion liras from debtors in Turkey

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With the law bringing a new restructuring opportunity to millions of debtors, it is expected to collect 100 billion liras to the public within 36 months.

The details of the restructuring of public receivables debts, which were published in the Official Gazette, Vedat Demiroz, deputy head of the Justice and Development Party (AKP) and Istanbul deputy, explained.

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Noting that the law was accepted by a large majority, Demiroz said, “The motion was enacted with yes votes from all parties except for the HDP abstaining.

As there was great demand from the public, it was an issue of concern to all shopkeepers, students, and those who owed insurance to the municipality and customs.

Although there were objections, it was eventually accepted by a large majority and became law.”

Noting that the Ministry of Treasury and Finance also announced special discounts on local and foreign cash capital.

“But this law is so comprehensive, I think all traders will find a place for themselves in this law,” Demiroz said.

Because there are real estate taxes, Bağkur, and even student loans here, I think everyone will find a place for themselves here.

They will be relieved to pay their debts by taking advantage of this law, moreover, the public owes more than 500 billion liras, some of which are really hard to come by.

But I clearly expect 90-100 billion liras from this law, and it will be collected within 36 months.”

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“This is not an amnesty, we are paying the public in installments”

Demiroz indicated that the law should not be evaluated as an amnesty and said: “First of all, this is not an amnesty, we pay the public in installments.

It is very comprehensive such as taxes, insurance, municipal property taxes, traffic fines, vehicle maintenance, and student loans.

And here the state says “You are 18 installments, each installment is paid once every two months” Pay this debt in 36 months.

Pay us this with an annual interest of 4.2 and a 3-year maturity.

“It is an arrangement made based on an understanding of the social situation of debt collection accumulated after this pandemic and the breathing of merchants.

Of course, this first part includes insurance debts, and the second part includes some laws that traders were waiting for, by increasing the announced bases for the previous years at a certain rate.

and paying a certain amount of taxes on the portion they increased they could not undergo any examination in the 5-year period from 2016 to the end of 2020.

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In other words, tax offices, social security institutions, or customs advisors will not conduct such an examination.”

Demiroz pointed out that the issue of disagreement in the law also exists, “For example, they went to the judiciary with a report that was investigated and a report was kept, and there are dues that have not yet been completed in the judiciary.

Regarding these, the finance says in the first stage if the court rules in favor of the state, I will not receive any fines.

In a win, come pay 10 percent of that to take it to the state board or the appellate courts again.

Even if I win, I won’t charge any late fees, in other words, if I pay 10 percent, we’ll end the dispute.”

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“Traders are comfortable with this law”

Demiroz mentioned that those who have more goods in their inventory are also covered by the law, and said:

Our state says ‘Come, cut the bill, pay the VAT, and I’ll never do any tests for you again.’

These are always technical problems, but those who need them know, and this also applies to those who have machines in possession and want to record them in their inventory.

There is also real estate, and its value is low, “you can also evaluate it at its current value according to inflation.”

In addition, in companies, partners withdraw money from the cash register.

A 15 percent tax is also paid because they withdraw money via a dividend, but it appears that some of them may be more or less on the cash register, or the partners seem to owe.

Bring them and announce 3 percent, pay and I won’t charge interest on that cash of yours or do a tax review.”

Recalling that the penalties imposed during the pandemic period were outside the law, Demiroz said:

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“The only penalty that this formation cannot take advantage of is the penalties caused by the epidemic, such as penalties for not using masks.

Which was written according to health law, but we have not put it now with public health in mind.”

Noting that merchants are comfortable with this law, Demiroz said, “This work was not done to get money.

There are many files that have accumulated in the past five years besides the merchants who have been affected by the epidemic.

Traders always look at us at ease, the figure that is paid in the form of 5 lira drops to almost 1.2 lira, and it is paid in 3 years, this opportunity is not always available.”