Recently, the Energy Markets Regulation Authority
("EMRA") amended the Regulation on
Implementation of National Markers in Petroleum Market
("Regulation") by means of issuing a new
regulation which was published in the Official Gazette dated June
12, 2015 ("Amending Regulation").
According to the Regulation, all petroleum products need to
contain the national marker, a chemical substance which the
licensees are obliged to use for verification of the authenticity
of their products.
The most important amendment introduced under the Amending
Regulation is that all licensees must now provide a letter of
guarantee as security for the national marker to be obtained from
EMRA. Requests filed by the licensees for the national marker
without providing the aforesaid letter of guarantee will not be
The letter of guarantee shall cover the value of the national
marker requested from EMRA and which is currently available in the
stock of the licensee. In any case, the security amount under the
letter of guarantee cannot exceed TRY 50,000,000.
The letter of guarantee shall be returned upon request in case
the licensee can certify that the national marker obtained from
EMRA has been used or returned.
The Amending Regulation provides the method for calculation of
the national marker value. In this respect, the national marker
value is the value corresponding to all kinds of taxes arising from
fuel which can be marked with the amount of national marker that
has been stolen, lost and/or harmed.
When calculating the national marker value, fuel prices with the
highest tax amount amongst the average dealers as announced by the
eight distribution companies with the highest transaction volume
shall be taken into consideration. These prices shall also be
published in the website of EMRA.
In case the national marker delivered to the licensee has been
stolen, lost and/or harmed, the licensee shall deposit the value of
the national marker to the bank account of EMRA within 7 business
days starting from notification served by EMRA. The licensee will
not be provided with national marker again unless the licensee
submits the bank receipt indicating that the national marker value
has been deposited.
If the licensee fails to make such payment or does not provide
the bank receipt indicating such payment within the aforesaid time
period, then the amount under the letter of guarantee corresponding
to the national marker value shall be cashed.
If the cashed amount of the letter of guarantee does not cover
the national marker value, the licensee shall be granted 3 business
days to make payment of the outstanding national marker value. If
the licensee fails to make such payment, then the outstanding
amount shall be collected in accordance with the provisions of the
Law on Collection of Public Receivables numbered 6183.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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