Extended Payment Times for Earthquake Zone Configuration
The President Extends Payment Times for Debtors in Force Majeure Areas
In a recent decision published in the Official Gazette, the President has extended the payment times for debtors in areas affected by force majeure. This decision applies to debtors in Adiyaman, Hatay, Kahramanmaraş, Malatya, Gaziantep Islahiye, and Nurdağı districts.
Under the scope of the 7256 and/or 7326 configuration laws, debtors who are in force majeure conditions will have their payment times extended until May 31. The installments that were originally scheduled to be paid between February 6, 2023, and May 31, 2025, should now be paid starting in June 2025. Subsequent installments will be due in monthly periods following this date.
This extension of the force majeure state also applies to debtors in the special provincial administrations, municipalities, and investment monitoring and coordination Presidency. All creditor administrations are required to adjust the payment periods accordingly for debtors in these cities.
The Treasury and the Ministry of Finance declared the force majeure extension on February 6, 2023, for taxpayers in earthquake-affected areas. This extension will provide relief to debtors in these areas until May 31, 2025.
