The planned wealth amnesty regulation, aimed at bringing overseas assets into the economy, complies with the Financial Action Task Force (FATF) standards, Treasury and Finance Minister Mehmet Şimşek has said.
Work is underway within the framework of the wealth amnesty to enable cash, foreign currency, gold, shares, bonds and other securities owned by real and legal persons abroad to be brought into Türkiye, he added.
Noting that Türkiye had gained significant experience from previous wealth amnesty practices, Şimşek emphasized that the results of past implementations had been carefully analyzed while preparing the proposed regulation.
Regarding concerns over illicit funds under the wealth amnesty scheme to be submitted to parliament, Şimşek said the highest-level measures had been taken. He noted that the planned implementation complies with standards set by international organizations, particularly the FATF.
Şimşek said the package includes measures aimed at strengthening inter-institutional cooperation to ensure effective implementation in the fight against money laundering and the financing of terrorism.
The minister also stated that the regulation on bringing overseas assets into the economy would not affect measures required under legislation other than tax law.
Under the planned regulation, a gradual taxation system is envisaged for funds brought into the country following a declaration.
Different tax rates may apply if the declared assets are kept for a certain period in certain types of assets in accounts to be opened at banks and brokerage firms.
