Amendments made on 8 December 2025 to the Implementation Instruction issued by the Central Bank of the Republic of Türkiye introduced significant changes to the foreign currency conversion support for foreign currency earning services.
Amendments made on 8 December 2025 to the Implementation Instruction issued by the Treasury and Corporate Operations Directorate General of the Central Bank of the Republic of Türkiye introduced significant changes to the application of the foreign currency conversion support for foreign currency earning “services”.
The changes are summarised below.
1. Change concerning foreign currency earning services in the definition of foreign-sourced currency (Article 3/1-e)
The definition of “foreign-sourced currency” has been redrafted in respect of foreign currency earning service income, with the following wording added to the definition:
“foreign currency earning service income of foreign origin listed in the third paragraph of Article 6 of the Communiqué on the Exemption from Tax, Duties and Charges for Exports, Transit Trade, Sales and Deliveries Deemed Exports and Foreign Currency Earning Services and Activities (Export: 2017/4)”.
2. Definition of the tax, duty and charge exemption certificate (Article 3/1-ğ)
A new definition has been added to the Implementation Instruction: “the tax, duty and charge exemption certificate issued by the Ministry of Trade of the Republic of Türkiye within the scope of Communiqué No. 2017/4”.
The support to be provided for foreign currency earning services is thereby administered within the framework of that certificate.
3. Limiting the support amount for foreign currency earning services to the certificate (Article 5/1)
Under the amendment to subparagraph (a) of the first paragraph of Article 5 on the foreign currency conversion support, the wording now reads:
“foreign currency received as consideration for foreign currency earning services within the scope of the article entitled ‘A) Foreign Currency Earning Transactions (Article 20)’ of the Invisible Transactions Circular No. 2000/YB-4 of 13 January 2000, limited to the activity and the amount recorded in the companies’ tax, duty and charge exemption certificates”.
The foreign currency conversion support for foreign currency earning services is thereby limited to the activity and the amount recorded in the company’s certificate.
4. Obligation to submit documents for foreign currency earning services (Article 8/15)
Under the amendments to Article 8 on other provisions, both the exemption certificate and the invoice must be submitted for foreign currency received as consideration for foreign currency earning services.
5. Certificate and declaration requirement for foreign currency earning service income (Article 8/19)
Under paragraph 19 added to the same article, the following conditions must be met for the foreign currency conversion support to be paid on foreign currency earning service income:
- the company must hold a valid tax, duty and charge exemption certificate,
- the foreign currency subject to the support must derive from invoices relating to the activity covered by that certificate,
- the amount of foreign currency to be sold to the Central Bank must not exceed the activity amount recorded in the certificate,
- the company must submit a written declaration to the intermediary banks confirming that these conditions are met, and
- the intermediary banks must check whether that declaration reflects the true position.