Turkey Introduces 72-Month Repayment Plan for Public Debt
A significant new financial regulation has been introduced in Turkey, offering debt relief for residents across the country, including those in Alanya. The Ministry of Finance and Tax has announced a scheme enabling the restructuring and repayment of public debt over a period of up to 72 months.
The initiative, which has an application deadline of August 31, covers various public debt obligations such as taxes, traffic fines, and student loans. Crucially, it also allows for debt restructuring of up to 10 million Turkish Lira (TL) without requiring collateral, providing substantial relief for many struggling to manage their financial commitments.
This measure is particularly relevant for foreign residents and holiday home owners in areas like Alanya and Antalya, who may have outstanding tax obligations or other debts. By utilising this opportunity, individuals can avoid potential penalties and fees while maintaining good financial standing in Turkey.
Interested parties should contact the Ministry of Finance and Tax or relevant local offices in Alanya before the August 31 deadline to restructure their debt.
Source: Gazete Alanya
