12 September 2018

Turkey issues Communiqué on export proceeds obligations

The Turkish Ministry of Treasury and Finance has issued a Communiqué regarding the protection of the Turkish currency in relation to export transactions. The Communiqué introduces an obligation for Turkish resident exporters to bring export proceeds into Turkey, sell them to banks and close the export accounts by the stipulated deadline. The Communiqué entered into force on September 4, and will be valid for six months.

An Indirect Tax Services group Alert, attached below, provides additional details.

———————————————
ATTACHMENT

Full text of this Tax Alert

Document ID: 2018-1797