With the Official Gazette dated 19.04.2022, the Communiqué (Communiqué No: 2022-32/66) Amending the Communiqué on the Decree No. 32 (Communiqué No: 2008-32/34) on the Protection of the Value of Turkish Currencyhas is published, and there are some important changes in the 8th article of the Communiqué on the Decree No. 32 which regulates the contracts in foreign currency and indexed to foreign currency.
With the said regulation, a sentence has been added to the end of the 9th paragraph of the article 8 titled Contracts in Foreign Currency and Indexed to Foreign Currency of the Communiqué on Decision No. 32, which regulates the movable sales contracts other than vehicle sales contracts, to be concluded between the residents of Turkey, and the new version of the article is as follows:
- It is possible for the residents of Turkey to decide the contract price and other payment obligations arising from the movable sales contracts (other than vehicle sales contracts) in foreign currency or indexed to foreign currency. However, the contractual payment obligations must be fulfilled and accepted in Turkish currency.
The 15th paragraph of the article 8 of the Communiqué on Decision No. 32 has been amended as shown below
- Without prejudice to the provisions of the sixteenth paragraph, in contracts other than real estate sales and real estate rentals to which public institutions and organizations or Turkish Armed Forces Foundation companies are a party, it is possible to determine determine, pay and accept the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency.
The amendments mentioned above have entered into force as of the publication date (19.04.2022).
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.