DAY-MER held a panel on 10 March Saturday to provide some information and guidance to the community in regards to the ‘Automatic Information Exchange Agreement’.
Lawyer Muhammet Çankıran and Orhan Dil joined the panel and gave information about the details of automatic information sharing. The panel was called ‘Automated Information Exchange: Does the property have plagued the property in Turkey?’ and lawyer Lawyer Muhammet Çankıran said:
“The aim of this deal is to prevent tax evasion of large capital groups. Turkey, after making the necessary arrangements pursuant to this agreement it will be implemented on September 2018. Legal regulations have been made in the first instance, but the regulation on the application has not yet been made. While the information to be shared is entered into the system, the upper limit of money is determined as 500 thousand dollars in companies and 1 million dollars in people, but the lower limit has not yet been determined.
I personally think people which don’t hold a large amount of money will not be transferred to this system.”
Çankıran noted that there is no need to panic and for more information people should seek for professional assistance.