Turkey calls on citizens to benefit from cash repatriation

Turkish Finance Ministry called on citizens to benefit from cash repatriation, which has been brought into force for the second time.

Turkey calls on citizens to benefit from cash repatriation

Turkish Finance Ministry called on citizens to benefit from cash repatriation, which has been brought into force for the second time.

The ministry, within the scope of an introduction campaign to inform the citizens on the implementation of cash repatriation, sent letters to 100,000 people.

Revenue Administration, through 10,000 posters and brochures, called on the citizens to declare their assets within and outside the country, "both benefit from the tax advantages and contribute to country's economy. The deadline is September 30, 2009," it said.

The brochures said no tax examination or assessment would be done for the assets that were declared regarding the period before January 1, 2008.

Preparations are also underway at Finance Ministry to introduce the implementation of cash repatriation in foreign countries.

The ministry will organize meetings in Germany, Belgium and Russia on "Investment Opportunities in Turkey and incentives".

The first meeting will be held in Germany between September 11-12 with the support of Confederation of Turkish Businessmen and Manufacturers (TUSKON). Businessmen from the Netherlands, France as well as Germany will be invited to the meeting. TUSKON will undertake the coordination of the meetings.

The last meeting will be held jointly with Finance Ministry and Union of Chambers' & Commodity Exchanges of Turkey (TOBB) in Moscow, Russia.

Finance Minister Mehmet Simsek will give information to the participants about the investment opportunities and incentive system during the meetings. Those living in abroad will be told that "there is a great opportunity for you with the implementation on cash repatriation. Bring your assets to Turkey in return for a very trifling sum of tax.
Register your money and other assets."

During the implementation of the first cash repatriation, 8,200 declarations were made from inside and outside the country.


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Last Mod: 26 Ağustos 2009, 15:28
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