Turkey:
Alert On Amendment To The Capital Movements Circular
27 April 2022
Bener Law Office
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The Capital Movements Circular
("Circular") has been amended with the
letter of Ministry of Treasury and Finance of Republic of Turkey
numbered 1130224 and dated April 14, 2022 and the scope of the 19th
article regarding the loans received from abroad has been
extended.
Pursuant to the amendment, it has been made possible to pay and
use the foreign currency loan received from abroad in one or more
foreign currencies other than the foreign currency determined in
the loan agreement. The Central Bank cross rates on the date of
transfer will be used in the calculations if the currency specified
in the loan agreement and the currency paid to the loan borrower is
different.
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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