Türkiye provides information about Turkish accounts to German tax authorities

So far, the German tax office has not been able to obtain any information Money in Turkish accounts Since 2014, agreements have existed between numerous countries to combat tax losses and evasion, whereby they automatically and electronically exchange information on bank accounts – including account numbers, account balances, and interest, dividends, or other income. Turkey also joined the agreement in April 2017, but had not submitted any data for years. According to a presidential decree Turkey transmits now since September 2021 Tax data to the German tax authorities.

Affected are financial data on accounts with Turkish banks and insurance companies as well as branches of foreign banks there. Main residence in Germany has and Customer of such a bank in Turkey should be aware of this change. This also applies to Turkish citizens, even if they have a second address in Turkey. Only if their primary residence is in Turkey does the data not need to be submitted.

The tax office in Germany checks on the basis of the submitted data whether the funds on the Turkish accounts correctly stated in the German income tax return Turkey has already provided the German tax authorities with tax data for the years 2020 to 2023. Since then, the data for the previous year must be submitted to the Federal Central Tax Office by July 31 of the following year. This can result in a tax arrears payment, but also criminal consequences, such as investigations into the Allegation of tax evasion entail.

With early legal advice, it is possible to avoid criminal liability through a so-called Voluntary disclosure If you receive a corresponding letter from the tax office, but especially before that, we will be happy to advise you – in German or also in Turkish.