On 17 November 2020, the Code on the Restructuring of Some Receivables and Amendment to Some Codes was published in the Official Gazette (“Code”). You can find our relevant alert/news here. In accordance with the Code, the deadline for applications was 31 December 2020, restructured payments owed to the Ministry of Treasury and Finance (“Ministry”) and customs would begin in January 2021 and payments owed to the Social Security Institution (“SSI”) would begin in February 2021.
However, deadlines for the application for restructuring public receivables and the payment period have been extended for one month by Presidential Decree No. 3343 published in the Official Gazette on 30 December 2020. As a result, the deadline to apply is now 31 January 2021, payments owed to the Ministry will begin in February 2021 and payments owed to the SSI will begin in March 2021 (you can find the official text here [available in Turkish only]). The receivables stipulated in Articles 4/13 and 4/14 of the Code regarding loans granted to agricultural cooperatives and their partners by the Ministry of Agriculture and Forestry and General Directorate of Forestry, are exempt from the scope of the extension.