Turkey public debt restructuring deadline set for August 31

The application period for the Turkish government's public debt restructuring program is set to expire on August 31. The program offers relief to citizens and businesses for various types of debt, including income tax, corporate tax, VAT, Motor Vehicle Tax (MTV), traffic fines, and student loans.

In addition to tax obligations, the restructuring covers Social Security Institution (SGK) debts such as insurance premiums, unemployment insurance premiums, and Bağ-Kur debts. Depending on the debtor's financial situation and specific criteria, installment options are available for up to 36, 48, or 72 months. For VAT debts, the maximum number of installments is 12.

Financial incentives include a 10-point interest discount for those meeting specific conditions, though a deferral interest rate of 29% applies. Furthermore, no collateral is required for debts up to 10 million lira. Tax debts can be managed through the Revenue Administration's website, the Digital Tax Office, e-Devlet, or local tax offices, while SGK debts must be handled through relevant social security centers.