19April2022

Amendments on the Turkish Currency Value Protection Communique

Amendments have been made on the Turkish Currency Value Protection Communique with a Communique no: 2022-32/66 published on the Official Gazette numbered 31814 and dated 19.04.2022.

Per that amendment, the movable asset sale contracts (except vehicle sales contracts) between the resident individuals in Türkiye can be done in foreign currency or indexed to foreign currency. However, it is obligatory to fulfill and accept the contractual payment obligations in Turkish currency.

You can reach the relevant Official Gazette via that link. (In Turkish).

You can review the other details about the Turkish Currency Protection Law via that link.

Should you have any queries or need further details, please contact your customer representative.

Author Erdoğdu Onur Erol, Category Taxation Law

Notification!

The content in this article is for general information purposes only and belongs to CottGroup^® member companies. This content does not constitute legal, financial, or technical advice and cannot be quoted without proper attribution.

CottGroup^® member companies do not guarantee that the information in the article is accurate, up-to-date, or complete and are not liable for any damages that may arise from errors, omissions, or misunderstandings that the information may contain.

The information presented here is intended to provide a general overview. Each specific case may require different assessments, and this information may not be applicable to every situation. Therefore, before taking any action based on the information provided in the article, it is strongly recommended that you consult a competent professional in the relevant fields such as legal, financial, technical, and other areas of expertise. If you are a CottGroup^® client, do not forget to contact your client representative regarding your specific situation. If you are not our client, please seek advice from an appropriate expert.

To reach CottGroup^® member companies, click here.