The new Asset Amnesty regulation one of the most important agenda items for 2026 for taxpayers and individuals with assets abroad entered into force upon its publication in the Official Gazette dated June 4, 2026. Known to the public as the “Asset Amnesty,” this regulation under Law No. 7582 aims to bring unregistered assets, both domestic and foreign, into the economy through a low tax rate. As the application process continues as of September, the question taxpayers are most curious about is whether the deadline has been extended.
Has the Application Period Been Extended?
Under the current regulation, individuals and legal entities wishing to benefit from the Asset Amnesty must declare their eligible assets to banks or financial institutions in Türkiye by July 31, 2027. This date constitutes a statute of limitations explicitly stipulated in the law. However, there is a notable point: The law grants the President the authority to extend this period in six month increments for up to one year. In other words, while there is currently no official decision to extend the deadline, it is legally possible for such a decision to be made in the future. The safest approach for taxpayers would be to act with this possibility in mind while basing their plans on the current deadline of July 31, 2027.
Benefits of the Asset Amnesty
The most attractive aspect of the regulation is that the general tax rate for declared assets is set at 5 percent, but this rate can be reduced to as low as 0 percent with certain investment commitments. The tax rate decreases gradually if the taxpayer commits to holding the declared assets in term deposits, government bonds, or venture capital investment funds for specific periods. For example, if a commitment of at least 5 years is made, the tax rate is applied at 0%.
These reduced rates, valid for declarations made through December 31, 2026, will be applied with a half point increase for declarations made between January 1, 2027, and July 31, 2027. Therefore, it is financially more advantageous for those wishing to benefit from these favorable rates to file their declarations by the end of 2026.
Protection Against Tax Audits and Important Considerations
One of the most important safeguards of the Asset Amnesty is the provision that under no circumstances will a tax audit or tax assessment be conducted based on the reported assets. However, this protection is not absolute; it is valid only if the conditions are met. Overseas assets must be brought into Türkiye or transferred to an account within two months of the declaration. Additionally, retaining documentation regarding the source of the declared assets is of great importance in terms of the burden of proof in the event of a potential audit.
Although September is still early in the process to take advantage of the Asset Amnesty, it is the right time to plan the process and prepare the necessary documents. As of now, the application period has not been extended and remains open until July 31, 2027. However, it is recommended that those wishing to benefit from reduced tax rates file their declarations by the end of 2026.
To obtain detailed information on this matter and develop a strategy tailored to your needs, please contact the expert team at Bu Müşavirlik. We are here to help you manage your Asset Amnesty process effectively and protect you from potential risks.
