An amendment was made to the Export Circular by the Ministry of Treasury and Finance with a letter dated January 3, 2022 and put into practice with Additional Article 1, regarding the sale of export proceeds to the Central Bank of the Republic of Turkey (“TCMB”) within the scope of the Ministry’s letter dated February 28, 2025 and numbered 3815300.
According to the amendment; as of March 3, 2025, it will be mandatory to sell at least 25% of the export proceeds for which an Export Profit Acceptance Certificate or a Foreign Exchange Purchase Certificate will be issued to the bank from which the document was obtained.
These proceeds will be sold to the Central Bank on the same day by the bank at the foreign exchange purchase rate declared by the Central Bank and valid for the transaction day, and will be transferred to the Central Bank’s account at the bank. The full equivalent of the said amount will be paid to the exporter by the bank in Turkish currency.
The rates for the exchange of export proceeds were applied as follows over the years:
- 25% between January 3, 2022 and April 17, 2022
- 40% between April 18, 2022 and June 10, 2024
- 30% between June 11, 2024 and March 2, 2025
- 25% as of March 3, 2025
Thus, the rate determined as 25% on January 3, 2022 was reduced to 25% again as of March 3, 2025.
You can access the full text of the amendment published in the Official Gazette from this link.
For detailed information and professional support during the compliance process, feel free to contact us.
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