TAX NEWS NO: 2015/5
June 17, 2015
Amendments Have Been Made to The Council of Ministers Decision No. 32 Pertaining to Protection of The Value of Turkish Currency.
As per the Council of Ministers Decision no. 2015/7603 which was promulgated in the Official Gazette dated 11.06.2015, certain amendments have been made to the Decision no. 32 On The Protection Of The Value Of Turkish Currency.
According to previous legislation, their exportation was free under the following principles:
i) Residents in Turkey and non-residents shall be free to transfer Turkish currency abroad via banks.
ii) Travelers may freely take Turkish currency abroad on their person, up to the equivalent of USD 5.000.
iii) Exportation of instruments denominated in Turkish currency shall be free.
With the new regulation, importation and exportation of Turkish currency and instruments denominated in Turkish currency shall be free.
The rules pertaining to foreign currency banknotes that are to be taken abroad up to Euro 10.000,- or an equivalent amount in another currency, will be determined by the Ministry of Finance.
The rules pertaining to Turkish Lira that is to be taken abroad up to 25.000,- will be determined by the Ministry of Finance.
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