According to Communiqué No. 2008-32/34 on Decree No. 32 on the Protection of the Value of Turkish Currency ("Communiqué"), issued by the Ministry of Treasury and Finance of the Republic of Türkiye ("Ministry"), individuals residing in Türkiye were previously allowed to determine contract prices and other payment obligations in foreign currency or indexed to foreign currency for contracts involving the sale of moveable assets, excluding vehicle sales.
However, in line with an amendment to the Communiqué, published in the Official Gazette on 19 April 2022, it became mandatory to fulfill and accept payment obligations under these agreements in Turkish Lira.
Following the recent change. published in the Official Gazette on 6 March 2025, the requirement to fulfill and accept payment obligations in Turkish Lira has been removed. As a result of this amendment, individuals residing in Türkiye are now allowed to determine contract prices and other payment obligations in foreign currency or indexed to foreign currency for contracts involving the sale of moveable assets, excluding vehicle sales, and payment obligations under these agreements are no longer required to be fulfilled in Turkish Lira.
This amendment signals a shift in foreign currency policies and is significant in terms offering flexibility in commercial transactions, including share sale and purchase transactions.
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