Anasayfa
Intern
Uluslararası
İrtibat
Sirküler No: 2020 / 51
Tarih: 19.03.2020
In the economy package announced by the President of Turkey on 18.03.2020 and not yet published in the Official Gazette, the measures taken to reduce the effects of Covid-19 outbreak in the Turkish business world are given below.
1. The payments of Withholding Tax, Reverse Charged VAT and Social Security Premiums regarding April, May and June 2020 will be postponed for 6 months for retail, shopping center, iron&steel, automotive, logistics, transportation, cinema, theate r, accommodation, food&beverage, textile&confection and event&organization industries.
2. It has been announced that the accommodation tax will not be applied until November, 2020.
3. The payments of easement fees and revenue share payments for hotel rentals regarding April, May and June 2020 will be postponed for 6 months.
4. The VAT rate for domestic airway transportation has been reduced from 18% to 1% for 3 months.
5. Deterioration of cash flow due to precautions taken against COVID-19 pandemic resulting with delayed loan and interest payments to banks, will be postponed for 3 months and additional financing support will be provided when necessary.
6. In order to maintain capacity utilization rates during the temporary slowdown of export, stock financing support will be granted to exporting companies.
7. April, May and June principal and interest payments of the loan debts to Halkbank of the tradesmen and artisans who claim that their business was adversely affected in this period will be postponed for 3 months without any interest.
8. The limit for the Loan Guarantee Fund will be raised from 25 billion to 50 billion TRY. The priority for loans will be given to companies with liquidity requirements and lack of assurance and to small and medium-sized companies.
9. The introduction of socially purposed credit packages under appropriate and advantageous conditions will be incentivized.
10. For houses valued under TRY 500.000, the amount available for credit will be increased from 80% to 90%. The minimum advance payment will be reduced to 10%.
11. Force Majeure will be written to the credit registry of the companies which went into default in April, May and June due to precautions taken against the spreading of the virus.
12. The periods of the withholding declarations, which include the payments of the deductions made at the source such as withholding, will be delayed for 3 months.
13. Minimum wage support will continue.
14. It has been announced that flexible and remote working models in the legislation will be made more effective.
15. The conditions and procedures required to benefit Under Capacity Working Allowance application will be eased and expedited. Thus the costs of the employers temporarily shutting down their business will be lowered and income support will be provided to the workers of the mentioned business.
16. The lowest retirement pension will be increased to TRY 1.500.
17. The eid premium of retirees will be paid at the beginning of April. The salary promotion payments of retirees will also be deposited directly into their accounts, without the need to go to branches.
18. An additional TRY 2 billion resource will be allocated for cash benefits to be made to vulnerable families which will be determined according to the criteria set by the Ministry of Family, Labor and Social Policies.
19. In order to ensure the continuity of employment, compensation working period will be increased from 2 months to 4 months.
20. It has been announced that alternative channels will be developed in line with the priorities determined in both production and retail in case of disruption in global supply chains.
21. Periodic follow up program, consisting of social services and home health services will be implemented for the elderly people who are over 80 years old and living alone.
Kind Regards
