An important change to the application of Decree No. 32 was made by Communiqué No. 2024-32/69, published in the Official Gazette of 28 February 2024.
The Ministry of Finance has made an important change to the application of Decree No. 32. The change was made by Communiqué No. 2024-32/69, published in the Official Gazette of 28 February 2024.
Following the change, certain paragraphs have been removed from the mandatory regime and brought within the exceptions, with a validity date of 21 April 2022. The Communiqué therefore makes a retrospective provision and prevents penalties from being imposed on taxpayers for past periods. It also allows the recovery of penalties previously imposed on those who did not comply with the obligation to pay in foreign currency before the Communiqué.
The final sentence of the ninth paragraph of Article 8 of the Communiqué on Decree No. 32 (Communiqué No: 2008-32/34) has been amended as follows, and the following subparagraphs have been added to that paragraph.
“However, payment obligations relating to those contracts, other than in the cases set out below, must be performed and accepted in Turkish currency:”
- payment obligations under negotiable instruments denominated in foreign currency that were in circulation before the entry into force of the Communiqué (No: 2022-32/66) Amending the Communiqué on Decree No. 32 on the Protection of the Value of Turkish Currency (Communiqué No: 2008-32/34), published in Official Gazette No. 31814 of 19 April 2022, in performance of contracts for the sale of movable property concluded before 19 April 2022. (Enters into force on 28 February 2024, effective from 21 April 2022.)
- payment obligations under invoices issued before 19 April 2022. (Enters into force on 28 February 2024, effective from 21 April 2022.)
- payment obligations relating to purchases and sales of precious metals and precious stones carried out in foreign currency on the Borsa İstanbul Precious Metals and Precious Stones Market and to the settlement of those transactions. (Enters into force on 28 February 2024, effective from 21 April 2022.)
ç) payment obligations under contracts for the sale of movable property relating to exports to be carried out, on the basis of an intermediated export contract, through Foreign Trade Capital Companies or Sectoral Foreign Trade Companies within the scope of the Communiqué on the Status of Foreign Trade Capital Companies (Export: 2004/12), published in Official Gazette No. 25664 of 8 December 2004, and the Communiqué on the Status of Sectoral Foreign Trade Companies (Export: 2004/4), published in Official Gazette No. 25510 of 2 July 2004, and through companies holding Export Consortium status under the Decree on Export Supports brought into force by Presidential Decree No. 5973 of 17 August 2022 and E-Export Consortium status under the Decree on E-Export Supports brought into force by Presidential Decree No. 5986 of 24 August 2022. (Enters into force on the date of publication, 28 February 2024.)
- payment obligations under contracts for the sale of movable property concluded for the delivery of goods to which the transit and customs warehousing regimes and the temporary storage and free zone provisions of Customs Law No. 4458 of 27 October 1999 apply, including sales and deliveries of bunker fuel subject to a customs declaration. (Enters into force on the date of publication, 28 February 2024.)
- payment obligations relating to the delivery of goods subject to contracts for the sale of movable property concluded with companies operating in free zones within the scope of foreign trade transactions.” (Enters into force on the date of publication, 28 February 2024.)