The asset peace (varlık barışı) introduced in 2026 is not a procedure under which all past tax risks are removed merely by filling in a bank form. The type of asset that may be declared, the declaration date, the return to Türkiye or deposit into a bank account, the payment of tax and, where applicable, the holding commitment are assessed together. Protection is limited to the assets and amounts covered by the law; it does not provide a general immunity from examination extending across all activities.
Legal Nature of the Regime and How It Differs from Other Obligations
Asset peace is not an amnesty that removes all legal risks merely by submitting the declaration form. The tax consequence depends on the scope of the asset, the declaration and return periods, and the payment and commitment conditions.
Money, Valuables and Other Assets That May Be Declared Under Asset Peace
Under KVK temporary Article 19, provision has been made for money, gold, foreign currency, securities and other capital market instruments held abroad and in Türkiye. Both natural and legal persons may fall within its scope. As regards domestic assets, persons who have no tax liability in Türkiye may also benefit under the relevant conditions.
A real estate property is not itself one of the asset types listed above. If a sale of real estate is contemplated and the proceeds are to be declared, the reality, timing and declaration conditions of that conversion must be examined separately. Presenting real estate as money in the form is not appropriate. [1; Corporate Tax Law (Kurumlar Vergisi Kanunu), temporary Article 19]
Declaration Period and Return Period Must Be Kept Apart
The guide gives the declaration period as June 4, 2026 to July 31, 2027. Declarations are made to a bank or intermediary institution through the relevant form. The condition that declared assets held abroad be returned to Türkiye or transferred to an appropriate account within two months of the declaration is important. For assets physically brought in, customs and bank records are reviewed together.
The last day of the declaration period and the return deadline are not the same date. In addition, the short period for converting into the committed investment instrument and the holding period are separate timelines. Entering only July 31, 2027 in a calendar is not sufficient control.
The Tax Rate Depends on the Declaration Year and the Commitment
| Declaration and commitment | Rate in the 2026 declaration |
|---|---|
| Without a special holding commitment | 5% |
| Holding in an eligible instrument for 1 year | 4% |
| Holding in an eligible instrument for 2 years | 3% |
| Holding in an eligible instrument for 3 years | 2% |
| Holding in an eligible instrument for 4 years | 1% |
| Holding in an eligible instrument for 5 years | 0% |
For declarations made between January 1 and July 31, 2027, 0.5 percentage points are added to these rates. A 0% rate secured for 2026 through a five-year commitment therefore does not produce the same zero result for a 2027 declaration. The tax rate, the return on the investment and the bank's commission are separate matters.
The reduced-rate commitment does not apply to every investment product. The guide identifies eligible instruments such as term deposit accounts, certain public debt instruments or lease certificates (kira sertifikası), and venture capital investment funds. The commitment form, the conversion period and the condition of uninterrupted holding are assessed together. The mere fact that an account remains open does not in every case show that the asset has been held in compliance with the conditions.
Special Fund Condition for Businesses That Keep Books
Recording the declared asset and monitoring it in a special fund account is a separate obligation for businesses that keep books. It is important that the fund is not withdrawn from the business for two years and that its uses are limited to purposes other than adding to capital. A two-year accounting fund period does not end a longer investment commitment that was chosen.
For example, a company that chooses a low rate with a five-year holding commitment cannot freely end the bank investment after two years by claiming that the accounting fund condition has been met. The conditions and sanctions of the two regimes are monitored separately.
Limits of the Tax Examination Protection Provided by Asset Peace
Protection against examination and tax assessment in respect of declared assets depends on the fulfilment of statutory conditions. Examinations or assessment processes that have already begun, the relationship between the declared amount and any other difference in the tax base, and the time of the declaration are also important. It cannot be said that the declaration provides unlimited amnesty for all tax types, all years and all acts.
Interest, profit share or sale gains that the asset subsequently generates do not arise automatically outside the normal tax provisions. Restrictions on treating as an expense or offsetting a loss arising from a later sale of the declared asset, and on the asset peace tax paid, also remain in place. Tax protection does not replace proof of ownership under private law or other regulatory obligations.
Ownership, Value and Transfer Documents to Prepare Before Applying
The owner of the asset, its location, type and value; the power of representation; the declaration form; bank acceptance; the document evidencing the return to or deposit in Türkiye; the tax withholding record; and the commitment and special fund calendar should all be held in a single file. In the event of a breach of conditions, the resulting tax and interest consequences and the loss of protection are assessed separately.
Does a 0% rate mean there are no conditions at all?
No. The zero rate depends on a longer holding commitment in an eligible instrument. Even if the tax amount is zero, the declaration and the other conditions continue to apply.
Does the declaration alone prove the source of funds in every transaction?
No. Banking, ownership and other legal transactions keep their own documentary requirements. The asset peace declaration should not be presented as the single and sufficient document in every review.
Why It Matters in Whose Name the Asset Is Held
Where an asset appears in the name of a company's statutory representative, partner or attorney, the genuine ownership must be established by documentary evidence before the asset is attributed to the company. Where the account holder and the beneficial owner differ, this cannot be resolved by a statement in a petition alone. The power of attorney, account movements, company records and the underlying legal relationship are reviewed together.
The declaration of an asset held under the control of another person does not remove that third party's ownership or claim right. Asset peace is a special tax regulation; it is not a tool for creating fictitious ownership or for unilaterally resolving a private-law dispute. The asset on which a declaration is based must exist and be measurable.
Valuation, Correction and Investment Commitment
The value of the money, gold, foreign currency and securities to be declared is determined using the valuation date and measure set by the regulation. A bank account statement alone does not show the correct valuation measure for all securities. The period and tax effect between the initial declaration and a correction or supplementary declaration are also checked separately.
The investment commitment given for the reduced tax rate is a separate and continuing obligation from the declaration. The period for redirecting the investment, the permitted type of investment and the holding period are monitored separately. The rate advantage tied to keeping the investment for longer under the two-year holding condition for the company's special fund does not follow the same calendar.
Earlier Asset Peace Programmes Cannot Be Carried Over to Current Practice
Declaration dates, rates and examination protection described in earlier guides that rest on temporary Article 85 of the Income Tax Law (GVK) or on later transitional provisions cannot be applied directly to the 2026 programme. Programmes bearing the same name rest on different laws. An ongoing dispute arising from an earlier programme is examined on the basis of its own application and payment documents.
Correct filing of the 2026 declaration also does not automatically remove other obligations concerning the source of all income. The conditions of tax protection, the subject matter of any examination outside the declaration, and the consequences of a breach of conditions are assessed separately. Keeping declaration, return, tax payment, investment and fund records in chronological order within the same file is necessary so that the basis of protection can be shown later.
Decision to Make and File to Prepare Before Acting
Document the owner of the asset, its location, its value and the record of its entry into Türkiye. Track the tax rate according to the declaration year, the obligation to hold in the special fund and the investment commitment in separate calendars; do not extend tax protection without limit into other fields of law.
Sources and legal bases
- Guide on Bringing Certain Assets Held Abroad and in Türkiye into the Economy (Yurt Dışında ve Yurt İçinde Bulunan Bazı Varlıkların Ekonomiye Kazandırılması Rehberi)
- Corporate Tax Law No. 5520 (5520 sayılı Kurumlar Vergisi Kanunu)
- Announcement of the Publication of the General Communiqué on Asset Peace (Varlık barışı Genel Tebliği yayımlanma duyurusu)