Obligation to Pay in Turkish Lira in Sales of Movables

Communiqué of the Ministry of Treasury and Finance on amending the "Communiqué on Decree No. 32 concerning the Protection of the Value of Turkish Currency" was published in the Official Gazette.

April 19th 2022 Tuesday, Official Gazette Number: 31814

From the Ministry of Treasury and Finance:

COMMUNIQUE ON AMENDING THE COMMUNIQUÉ (NO: 2008-32/34) ON DECREE NO. 32 FOR PROTECTING THE VALUE OF TURKISH CURRENCY (COMMUNIQUÉ NO: 2022-32/66)

Article 1:             The sentence “However, payments arising from such contracts must be made and accepted in Turkish Lira” was added to the end of paragraph 9 of article 8, and phrase “to be set” was changed as “to be set, paid and accepted” in paragraph 15 of the Communique (No: 2008-32/34) on Decree No.32 for Protecting the Value of Turkish Currency published on the Official Gazette dated 28/2/2008 and numbered 26801.

Article 2:             This communique will enter into force on the day it is published.

Article 3:             Provisions of the communique shall be executed by the Minister of Treasury and                                             Finance.

Accordingly, Communique (No: 2008-32/34) on Decree No.32 concerning the Protection of the Value of Turkish Currency published on the Official Gazette dated 28/2/2008 and numbered 26801, was amended as follows:

The sentence “However, payments arising from such contracts must be made and accepted in Turkish Lira” was added to the end of paragraph 9 of article 8, and phrase “to be set” was changed as “to be set, paid and accepted” in paragraph 15.

Revised versions of paragraph 9 and 15 is as follows:

Paragraph 9-  Regarding the contracts for sale of movables except the ones for vehicle sales, it is possible for residents of Turkey to agree to set the contract price and other engagements arising from such contract in foreign currency or indexed to foreign currency. However, payments arising from such contracts must be made and accepted in Turkish Lira.

Paragraph 15- Without prejudice to provisions of paragraph 16, it is possible for a contract price and other engagements arising from such contract to be set, paid and accepted in foreign currency or indexed to foreign currency, except the ones regarding sale and lease of real estate properties where public institutions and organizations or companies of Turkish Armed Forces Foundation are a party of.