LIFTING OF THE PROHIBITION ON FOREIGN CURRENCY TRANSACTIONS IN MOVABLE SALES CONTRACTS, EXCLUDING VEHICLE SALES CONTRACTS
The Communiqué (the “Amendment Communiqué”) regulating the changes in the decree on the Protection of the Value of the Turkish Currency has been published in the Official Gazette numbered 32833 and dated 6 March 2025.
With the Amendment Communiqué (Communiqué No: 2025-32/72) amending the Communiqué on the Decree No: 32 on the Protection of the Value of the Turkish Currency (Communiqué No: 2008-32/34), the prohibition of transactions and payments in foreign currency in movable sales contracts (in Turkish, “menkul satış sözleşmeleri”) has been removed. This is to say that it has become possible for real/legal persons residing in Türkiye to determine the contract price and other payment obligations arising from movable sales contracts -excluding vehicle sales contracts- in foreign currency or indexed to foreign currency.
Paragraph 9 of Article 8 of the Amendment Communiqué has been modified as follows:
“In movable sales contracts other than vehicle sales contracts to be concluded between residents in Türkiye, it is possible to determine the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency” (in Turkish, “Türkiye’de yerleşik kişilerin kendi aralarında akdedecekleri; taşıt satış sözleşmeleri dışında kalan menkul satış sözleşmelerinde sözleşme bedelini ve bu sözleşmelerden kaynaklanan diğer ödeme yükümlülüklerini döviz cinsinden veya dövize endeksli olarak kararlaştırmaları mümkündür”.)
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