June 18, 2021
Turkey’s new law on restructuring certain receivables includes customs receivables
On 9 June 2021, Turkey published Law No. 7326 on the Restructuring of Certain Receivables and the Amendment of Some Laws (the Law) in the Official Gazette no. 31506.1 The Law entered into force on the same date.
This Alert summarizes the new provisions regarding customs duty and other related duties.
As enacted, the Law contains the provisions regarding the restructuring of:
In addition to other receivables, the Law covers customs duties, administrative fines, interest, delay interest and delay surcharge receivables whose customs liability arose under Customs Law no. 4458 and other relevant laws before (and including) 30 April 2021 and which are followed up by customs authorities under the provisions of Law no. 6183 as of this date.
The due date for an application for the restructuring of receivables is 31 August 2021, and the beginning of the first installment to be paid to the collection departments affiliated to the Ministry of Trade is 30 September 2021.
For additional information with respect to this Alert, please contact the following:
Kuzey Yeminli Mali Müsavirlik A.S., Istanbul