Last Chance to Restructure Tax Debts: Apply by August 31st for 72-Month Installments

Individuals seeking to restructure outstanding debts, including taxes, traffic fines, student loans, and social security premiums, face a looming deadline. Applications must be submitted by August 31 to take advantage of a manageable installment plan offering repayments over 72 months at a favorable interest rate of 29%. However, those who miss this deadline may find the interest rate spiking to 39%, significantly increasing the financial burden. For example, a debt of 200,000 Turkish Lira could incur an additional cost of up to 61,000 Lira if the higher interest rate applies. This stark difference highlights the importance of acting swiftly to secure the lower rate. Approved applicants will have until September 30 to make their first installment payment, emphasizing the urgency for those eligible to act before the deadline. For further details, readers can refer to the report by Ceren Nazan Tekin and Durak Doğan.