The Resource Utilization Support Fund ("RUSF") is an
amount that is being collected since 1988 via banks in Turkey at
the utilization of both domestic and foreign credit facilities
according to the cost of imported goods, and is transferred to
Central Bank of Republic of Turkey.
This financial imposition stem from the Turkish
Constitution's Article 167;
"In order to regulate foreign trade for the benefit of the
economy of the country, the Council of Ministers is empowered by
law to introduce additional financial impositions on imports,
exports and other foreign trade transactions, except taxes and
similar impositions, or to lift them."
The transactions that are subject to RUSF
The general feature for the transactions that are subject to the
RUSF is such transactions having a credit facility element.
Therefore, the import with credit is defined under the Turkish
Central Bank's circular No. YB-96/9 within Implementation of
the Protection of Turkish Currency Law's Provisions concerning
This circular provides that;
The import with cash on
The import with acceptance
The import with the deferred payment
letter of credit, are import with credit.
These import payment methods within the said-above circular are
subject to RUSF by the reason of the fact that such credits are
provided to the importer through the cost of import payment after
the realization of actual importation of the goods.
The rate of RUSF is determined as 0% on the importation of
certain goods with the Decree of Council of Ministers No. 2015/7511
published on Official Gazette dated 10 April 2015
The rate of RUSF for the import with cash on delivery,
acceptance credit and deferred payment letter of credit is raised
to 6% by the Decree of Council of Ministers as of effective 13
October 2011. However, along with the newly enacted Decree No.
2015/7511, 6% rate is reduced to 0% on the importation of certain
goods such as; animal and vegetable agricultural and food products,
tobacco, metal ore, mineral fuels and oils, inorganic and organic
chemicals and medical pharmaceuticals, electrical devices, air
vehicles and vessels.
In addition to above-mentioned goods also nuclear reactor,
boiler, machine, mechanical devices and tools and its parts and
components are subject to 0% RUSF along with the Decree No.
As the RUSF inclusive to the value added tax assessment, a
scale-down on the rate of RUSF inclines a drop on the tax costs. In
this respect, it is expected that the zeroed rate of RUSF for
certain goods may incentivize the development of the sectors
regarding to these good.
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guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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