With the Communiqué (Communiqué No: 2024-32/69) (“Amendment Communiqué“) published by the Ministry of Treasury and Finance on the Amendment to the Communiqué on Decree No: 32 on the Protection of the Value of Turkish Currency Numbered 2008-32/34, (“Communiqué”), amendments have been made to the implementation principles regarding the prohibition of payments in foreign currency in terms of payments between residents in Turkey.
Under the Communiqué where it is possible to determine the agreement value and other payment obligations arising from these agreements in foreign currency or indexed to foreign currency in sale of goods agreements other than vehicle sales agreements to be concluded between residents in Turkey, the payment obligations subject to these agreements had to be fulfilled and accepted in Turkish currency.
With the Amending Communiqué, it will be possible to pay the agreement value and other payment obligations arising from the agreements within the scope of the following exceptions in foreign currency to be effective upon the date of 21/04/2022:
- Payment obligations within the scope of negotiable instruments denominated in foreign currency that entered into circulation before the date of 19/4/2022 within the scope of the performance of sale of goods agreements concluded before the date of 19/4/2022.
- Payment obligations under invoices issued before the date of 19/4/2022.
- Payment obligations arising from the trading transactions in relations to precious metals and precious stones realized in foreign currency at Borsa Istanbul A.Ş. precious Metals and Diamond Market and payment obligations within the scope of settlement of these transactions.
With the Amending Communiqué, it will be possible to pay the agreement value and other payment obligations arising from the agreements within the scope of the following exceptions in foreign currency upon the date of 28/02/2024:
- Payment obligations under securities sales contracts for exports to be realized through Foreign Trade Capital Companies (DTSŞ) or Sectoral Foreign Trade Companies (SDTŞ) based on an intermediated export contract and exports to be realized based on an intermediated export agreement through companies with E-Export Consortium status within the scope of the Decision on E-Export Supports.
- Payment obligations within the scope of sale of goods agreements concluded for the delivery of goods to which transit and customs warehouse regimes and temporary storage and free zone provisions of the Customs Law dated 27/10/1999 and numbered 4458, including the sale and delivery of fuel subject to customs declaration.
- Payment obligations regarding the delivery of goods subject to the sale of goods agreements made with companies operating in the free zone within the scope of foreign trade transactions.
You can access the full text of the Amendment Communiqué from the link below.
https://www.resmigazete.gov.tr/eskiler/2024/02/20240228-1.htm
