Postponement and Structuring of Certain Receivables through the Law No. 7244
Significant amendments have been introduced regarding certain receivables through the Law No. 7244 on the Mitigation of the Impacts of the Novel Coronavirus (COVID-19) Outbreak on Economic and Social Life and on the Amendment of Certain Laws (“Law”) which entered into force through publication in the Official Gazette dated 17.04.2020 and numbered 31102.
Pursuant to Article 1 of the Law, certain payments to be made within the scope of numerous laws such as the Forestry Law, the National Parks Law, the State Procurement Law, the Law on Agriculture Sales Cooperatives and Associations, the Law on Higher Education Student Loans and Dormitories are postponed for a period of three months up to one year. Relevant Ministers are entitled to extend such periods with additional three months. On the other hand, the Ministry of Environment and Urbanization has been authorized to postpone contractual payments for the treasury immovables and adequate pays for a period of three months. The Law also regulates that the subscription fees shall not be collected from the members of the Association of Travel Agencies in 2020.
Municipal councils and special provincial administration as well as authorized bodies of the subsidiaries thereof are authorized to postpone their receivables listed under the Law for a period of three months. Relevant Ministers and councils are entitled to extend such periods with additional three months. It is also regulated that the annual announcement and advertisement tax as well as the sanitation tax shall not be collected from the business places whose activities have been suspended or who cannot continue their activities during the outbreak.
Finally, it is regulated that the receivables of the Turkish Electric Distribution Corporation (TEDAŞ) arising from electricity consumption shall be structured. The Law includes comprehensive provisions in this regard.
You may find the Turkish version of the Law here.
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