Debt and tax restructuring plan netted Turkey $6.5 bln: Finance minister

Debt and tax restructuring plan netted Turkey $6.5 bln: Finance minister

ANKARA
Debt and tax restructuring plan netted Turkey $6.5 bln: Finance minister

The Turkish government has collected almost 23 billion Turkish Liras ($6.5 billion) through its latest debt and tax restructuring plan, Finance Minister Naci Ağbal told state-run Anadolu Agency on June 2. 

Tax debt restructuring proceeds in May alone totaled 2.57 billion liras ($726 million), he said.    
  
Ağbal said some 12.3 billion liras ($3.48 billion) were collected in 2016 after the government introduced a comprehensive tax and public receivables restructuring plan.        

A comprehensive tax and public receivable restructuring plan went online in August 2016. In the framework of the plan, the authorities started to receive applications in November 2016 and the last deadline for such applications were extended to May 31 from the end of January.

Ağbal earlier noted that a payment postponement system has been added to the new debt restructuring plan, which is numbered 7020, adding that the system would make a further debt restructuring plan unnecessary.