Calis Beach and Fethiye Turkey Discussion Forum
Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: JohnF on May 22, 2018, 13:16:49 PM
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The government is so desperate for hard currencies that it's passed a law allowing folks to bring cash (and other assets) back to Turkey, with no questions asked. None. But it gets better, after you bring it back there wont be any tax to pay on it either!
This article in Al-Monitor sums it up better than I can:
"Detailing the plan May 9, Finance Minister Naci Agbal said, “If citizens who have money, gold, hard currency and [other] assets abroad bring those assets to Turkey and declare them by the end of November, they will be able to use those assets as they wish inside the country. Citizens who put those assets into [existing] enterprises will face no tax audit. There will be no additional tax assessment on those assets and they will not be included into profit calculations. Citizens will be able to later withdraw those assets from the enterprises, if they so wish. In case of a withdrawal, we will not be levying a dividend tax either, allowing for a free usage.” The minister added that such assets overseas could be used also to repay debts to foreign creditors, without being brought to Turkey."
Full article: https://www.al-monitor.com/pulse/originals/2018/05/turkey-pins-hope-on-dirty-money-to-ease-woes.html (https://www.al-monitor.com/pulse/originals/2018/05/turkey-pins-hope-on-dirty-money-to-ease-woes.html)
JF
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probably explains why we were offered 15.74% interest today.
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Nope. Not connected.
You got that due to interest rate increase last week.
JF