Turkey plans to restructure nearly $20b in unpaid taxes

Ankara: Turkey’s government plans to restructure nearly $20 billion (Dh73 billion) in unpaid taxes, the second such move in a year, as it seeks to boost revenue and stimulate growth. A bill sent to parliament on Tuesday would allow taxpayers to repay existing debt to state institutions over a period of three years starting July, and receive discounts for paying upfront, Finance Minister Naci Agbal said in an interview with Bloomberg HT television in Ankara on Wednesday.

The amount covered by the measure is at least 73 billion liras (Dh73 billion), Agbal said. The measure would extend a tax amnesty announced after last year’s failed coup attempt that only covered government receivables through June 2016.