Amendment to the Communique on Amendments to the Communique No. 32 Regarding the Protection of the Value of the Turkish Currency (Communique No: 2024-32/69), published in the Official Gazette dated February 28, 2024, has come into effect.
With the new regulation, it has been regulated that certain payments can also be agreed upon in the specified foreign currency. Certain exceptions have been introduced with the amendment, and it is stipulated that payments can be made in foreign currency under the following circumstances:
A. Applicable from 21.04.2022:
- Payment obligations within the scope of negotiable instruments denominated in foreign currency in the performance of movable sales contracts concluded before 19/4/2022.
- Payment obligations within the scope of invoices issued before 19/4/2022.
- Payment obligations in precious metals and stones transactions conducted in foreign currency on the Borsa Istanbul Precious Metals and Precious Stones Market and the settlement of these transactions.
B. Applicable from 28.02.2024:
- Exports to be carried out through Foreign Trade Capital Companies (DTSŞ) or Sectoral Foreign Trade Companies (SDTŞ) based on intermediary export contracts (those falling under the scope of the Communiqué on Foreign Trade Capital Company Status published in the Official Gazette dated 8/12/2004, No. 25664, and the Communiqué on Sectoral Foreign Trade Company Status published in the Official Gazette dated 2/7/2004, No. 25510).
- Payment obligations within the scope of movable sales contracts for exports to be carried out based on intermediary export contracts through companies with Export Consortium status (those falling under the scope of the Decision on Export Supports published in the Official Gazette dated 17/8/2022, No. 5973, and the Decision on E-Export Supports published in the Official Gazette dated 24/8/2022, No. 5986).
- Payment obligations within the scope of movable sales contracts concluded for the delivery of goods subject to customs declaration, including the sale and delivery of goods subject to customs declaration, transit, and customs warehousing regimes, and the application of temporary storage and free zone provisions under the Customs Law No. 4458 dated 27/10/1999.
- Payment obligations for the delivery of goods subject to movable sales contracts made by companies operating in free zones and for transactions within the scope of foreign trade
For any questions or legal assistance regarding this matter, you may contact us at info@paldimoglu.av.tr.
