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Our information Note on the postponement, cancellation and restructuring of certain receivables as another COVID-19 measure has been published.










Information Note:



 The Postponement, Cancellation and Restructuring of certain Receivables as another COVID-19 Measure




 



 



 



 



 




  1. INTRODUCTION



Law No. 7244 on the Amendment of the Law on the Mitigation of the Effects of the Novel Coronavirus (COVID-19) Pandemic on Economic and Social Life and Certain Laws (the “Law”) has entered into force following its publication in the Official Gazette dated 17 April 2020 and numbered 31102.



The Law provides for the postponement, cancellation and restructuring of certain payments as a measure to alleviate the challenges faced by industries, businesses and individuals adversely affected by the COVID-19 pandemic.




  1. REGULATIONS OF THE LAW




  1. Payments as to the Usage of Treasury Immovables



Contractual amounts (for e.g. sale, rental, preliminary authorisation, right of easement, right of usage and revenue share etc.) and compensation payments (ecrimisil bedelleri) for Treasury immovables pertaining to the 3-month period as of 1 April 2020 may be postponement for 3 months without the need for an application to the Ministry of Environment and Urbanisation. The Ministry of Environment and Urbanisation will be authorised to extend such period for up to 3 months. The postponed payments will be collected in equal instalments and without any delay interest.




  1. Payments as to the Usage of State-Owned Forests



Payments to be collected in connection with permits given to real or legal persons for the use of State-owned forests (with the exception of permits for tourism facilities) and recreational areas and immovables rented by the General Directorate of Forestry as per the State Procurement Law No. 2886[1] pertaining to the 3-month period as of 1 April 2020 have been postponed without the need for any application. The Ministry of Agriculture and Forestry will be authorised to extend such period for up to 3 months. The postponed payments will be collected in equal instalments and without any delay interest. In addition, site deliveries will be possible against a bank guarantee covering the annual fee for the first year of the relevant permit.




  1. Payments as to the Usage of National Parks



Any amounts payable in connection with the rental of areas subject to Law No. 2873 on National Parks[2] as per the State Procurement Law No. 2886 and pertaining to the 3-month period as of 1 April 2020 have been postponed without the need for any application. The Ministry of Agriculture and Forestry will be authorised to extend such period for up to 3 months. The postponed payments will be collected in equal instalments and without any delay interest.



 



 




  1. Payments as to the Usage of Immovables of Municipalities



Any amounts due to the sale, rental and compensation (ecrimisil) of immovables owned by, or at the disposal of, metropolitan municipalities, municipalities, their affiliates or their local administrative unions and pertaining to the 3-month period as of 19 March 2020 may be postponed for 3 months subject to the decision of the municipal councils or (for affiliates) authorised decision making bodies. The Ministry of Environment and Urbanisation will be authorised to extend such period for up to 3 months. The postponed payments will be collected in equal instalments and without any delay interest. Any rental amounts to be paid during such 3-month period by non-operating or suspended businesses will not be collected.




  1. Income Tax Deductions and Social Security Premium Amounts



The income tax deduction declarations and payment dates as well as the social security premium payments of metropolitan municipalities, municipalities and their affiliates have been postponed for 3 months. The President of the Republic will be authorised to extend such period for up to 3 months. The postponed payments will be collected in equal instalments and without any delay interest. The statute of limitation periods as to fines and tax levies as set out in the Tax Procedure Law No. 213[3] will not run during the relevant postponement period.  




  1. Annual Payments as to Advertisement and Environmental Cleaning Tax



Annual advertisement and environmental cleaning to be paid by non-operating or suspended businesses during such 3-month period will not be collected.




  1. Payments to Türkiye Elektrik Dağıtım Anonim Şirketi (TEDAŞ – the Turkish Electricity Distribution Corporation)



The Law also provides for the restructuring of amounts payable to TEDAŞ for electricity consumption purposes. Accordingly, restructuring will now be possible for amounts due and payable as of 1 February 2020 but not restructured within the scope of Law No. 6824 on the Restructuring of Certain Receivables and the Amendment of Certain Laws and Statutory Decrees[4] (“Law No. 6824”). This will, however, require a written application directly to TEDAŞ or the relevant distribution/retail sale companies until the end of September 2021. It will further be required that the first instalment is paid prior to the end of October 2021 with the remaining outstanding amount to be paid in 3 equal instalments.



No delay interest or similar payment will be requested as long as the payments are made as set out in the Law.



 



 










For more information please contact Bezen & Partners:



Yeşim Bezen (Telephone + 90 212 366 6804, E-mail [email protected])



Serdar Bezen (Telephone +90 212 366 6803, E-mail [email protected])




 



 



[1] Published in the Official Gazette dated 10 September 1983 and numbered 18161.





[2] Published in the Official Gazette dated 11 August 1983 and numbered 18132.





[3] Published in the Official Gazette dated 10 January 1961 and numbered 10705.





[4] Published in the Official Gazette dated 8 March 2017 and 30001.




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