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. The Law entered into force on the same date.
As enacted, the Law contains the provisions regarding the restructuring of:
- Finalized receivables (including the receivables for which a payment notice is not issued to taxpayers notwithstanding finalization as per a judicial decision)
- Receivables that are not finalized or that are in the stage of litigation (including receivables for which a settlement application was made, a settlement date has not been assigned or the settlement date is yet to come or a settlement could not be reached, but whose due date for initiating litigation has not expired)
- Procedures in the stage of inspection and assessment
Source EY
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