Circular: Summaries of Articles Related to the Law Amending Certain Laws No. 7582

Article 1: With the regulation made in the Law No. 6183, the maximum installment period for deferrals to be made for public debtors in distress and requesting deferral has been extended from 36 months to 72 months, and the amount of unsecured deferral has been increased from fifty thousand Turkish Liras to one million Turkish Liras.

Article 4: With the amendment made in the Income Tax Law (GVK), real persons deemed to be resident in Turkey are granted income tax exemption for the income and earnings obtained abroad for a period of twenty years, provided that they do not have a residence and tax liability in Turkey in the last three calendar years prior to being deemed resident in Turkey.

Article 2: Additionally, in the case of inheritance of assets due to death during the period benefiting from the exemption for income and earnings obtained abroad, the inheritance and transfer tax rate for heirs will be applied at a rate of 1%.

Article 3: The upper limit considered for the exemption from income tax for shares given free of charge or at a discount to employees by employers with the status of technology companies has been increased from the gross minimum wage to twice the gross minimum wage.

Article 6: With the amendment added to the Law on Direct Foreign Investments No. 4875, regulations have been made to establish qualified service centers to increase qualified service exports, strengthen investor visibility, and make Turkey a regional center for international companies.

Article 5: Furthermore, the portion of the salaries of qualified service personnel employed in qualified service centers that does not exceed three times the gross minimum wage is exempt from income tax.

Article 7: A regulation has been made to deduct 95% of the profits obtained from the sale of goods purchased from abroad without bringing them to Turkey or from facilitating transactions conducted abroad from the corporate tax base, defined as transit trade.

Article 8: From the year 2027 and in the following taxation periods, the corporate tax rate for institutions holding an industrial registry certificate and engaged exclusively in production activities will be applied at a rate of 12.5% for profits obtained solely from production activities.

Article 9: A regulation has been made to deduct the discounts provided for profits from transit trade and qualified service centers from the corporate profits that form the basis for calculating the domestic minimum corporate tax in the Istanbul Finance Center Law.

Article 10: A similar 'asset peace' regulation has been made regarding the repatriation of money, foreign currency, gold, stocks, bonds, and other securities located abroad to contribute to the national economy.

Article 11: With the regulation made in Law No. 5746, the provisions of the Turkish Commercial Code regarding conditional capital increases will not apply to capital increases based on convertible debt agreements of non-public companies holding the technology entrepreneurship badge issued by the Ministry of Industry and Technology.

Article 12: Additionally, companies established and operated in accordance with the digital company definition to be determined by the Ministry of Industry and Technology by entrepreneurs who have qualified as incubator entrepreneurs under Law No. 4691 will be exempt from fees and dues defined in Article 24 of the Law on Chambers and Commodity Exchanges of Turkey for up to three years from their establishment date.

Article 13: The income tax exemption applied to financial institutions operating in the Istanbul Finance Center with a participant certificate will be extended to all participants if they employ personnel with overseas experience.