From 1 January 2016, certain tradesmen, freelancers, farmers and
merchants in Turkey must make receipts and payments over TRY 7,000
through an intermediary financial institution. The value threshold
was last considered in 2004. The Turkish Ministry of Finance
published the Tax Procedure Law General Communiqué number
459 in Official Gazette number 29572 on 24 December 2015
The Communiqué's requirements apply to:
Merchants who are obliged to obtain
invoices, according to Article 232 of the Tax Procedure Law.
Individuals who work as
Merchants whose incomes are
determined by simplified business taxation.
Farmers who are obliged to keep
Tradesman who are exempted from
In this context, receipts and payments are deemed to include all
kinds of delivery of goods or fulfillment of services, as well as
advance payments and deposits.
Qualifying individuals must use an intermediary financial
institution even if payments for a particular transaction are made
on different dates, provided the total combined amount of the
payments exceeds the TRY 7,000 transaction threshold. Similarly, an
intermediary financial institution must be used if the total
combined value of multiple transactions with the same recipient on
the same day exceeds TRY 7,000, even if each transaction is less
than TRY 7,000 on its own.
For transactions within the Communiqué's scope,
intermediary financial institutions must prepare documents to
certify receipts and payments. However, these documents are not
deemed to certify the transaction itself, but rather are only
deemed to certify receipts or payments regarding the transaction.
Therefore, any transaction certification obligations arising from
the Tax Procedure Law will continue to apply.
Exclusions from the Communiqué's requirements include
Transactions made at capital market
Foreign exchange purchases.
Transactions realized at notary
Transactions realized at real estate
Penalties outlined in the Tax Procedure Law will apply for
failures to comply with the Communiqué's receipt and
Please see this link for full text of the
Communiqué (only available in Turkish).
Information first published in the MA | Gazette, a fortnightly legal
update newsletter produced by Moroğlu Arseven.
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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