Tax and debt regulation in the omnibus bill proposal: What changes are coming?

AKP submitted its omnibus bill consisting of 15 articles to the Presidency of the Turkish Grand National Assembly. The proposal envisages bringing financial, administrative and legal irresponsibility to bank personnel involved in extraordinary fund liquidation, narrowing the scope of reduced corporate tax and erasing General Health Insurance (GSS) premium debts dating back to before 2017.

LIABILITY EXEMPTION FOR BANK PERSONNEL ON DUTY IN FUND LIQUIDATION

The aim of the proposal is to bring financial, administrative and legal liability to Ziraat Bank and İş Bank, which are working within the scope of extraordinary fund liquidation, and the personnel of these banks.

The regulation aims to create legal assurance for banks and their employees who carry out the fund liquidation process in line with the duty given by law, although they are not in their primary field of duty.

THE SCOPE OF DISCOUNTED CORPORATE TAX IS BEING Narrowed

With the omnibus bill proposal, the scope of the reduced corporate tax, which is applied at 12.5 percent, is also rearranged.

Accordingly, it is envisaged that precious metal enterprises, oil refineries and tobacco and alcoholic beverage producers engaged in production activities will be excluded from the scope of the reduced corporate tax application.

The regulation is planned to be implemented as of January 1, 2027.

GSS PREMIUM DEBTS BEFORE 2017 ARE BEING DELETED

Another regulation in the proposal that concerns citizens is regarding General Health Insurance premium debts.

Accordingly, it is envisaged that the unpaid GSS premium debts dated before January 1, 2017, as well as the delay penalties and increases related to these debts, will be completely deleted.