ARTICLE 1 – The repealed Article 8 of the Communiqué on Decision No. 32 on Protecting the Value of Turkish Currency (Communiqué No.: 2008-32/34), published in the Official Gazette dated February 28, 2008 and numbered 26801, was given its title as follows rearranged. .
“Foreign currency and foreign currency indexed contracts
ARTICLE 8 – (1) Persons residing in Turkey; They cannot decide on the contract price and other payment obligations arising from these contracts in foreign currency or linked to foreign currency in real estate purchase contracts, including apartments and covered workplaces, which they conclude between themselves and the subject matter of which relates to real estate in the country, including Free zones.
(2) Persons resident in Turkey; They cannot decide on the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency in real estate rental contracts, including residences and roofed workplaces, which they will conclude among themselves, the subject of which is real estate located in the country, including free zones.
(3) Persons resident in Turkey; They cannot decide on the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency in the employment contracts they will conclude among themselves, other than those to be performed abroad.
(4) Persons resident in Turkey; They cannot decide on the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency in the service contracts they will conclude among themselves, including consultancy, intermediary and transportation, other than those specified below.
- a) Service contracts to which persons who have no citizenship ties with the Republic of Turkey are parties,
- b) Service contracts made within the scope of export, transit trade, sales and deliveries deemed as exports and foreign exchange earning services and activities,
- c) Service contracts made within the scope of activities to be carried out abroad by persons residing in Turkey,
- d) Service contracts regarding electronic communications to be concluded between persons residing in Turkey, starting in Turkey and ending abroad, and starting abroad and ending in Turkey.
(5) Persons resident in Turkey; The contract price and other payment obligations arising from these contracts in foreign currency for work contracts other than the construction, repair and maintenance of ships defined in the Turkish International Ship Registry Law No. 4490 dated 16/12/1999 and the Law on Amendments to the Decree Law No. 491, which they will conclude between themselves. or they cannot decide based on foreign currency.
(6) Persons resident in Turkey; It is possible for them to decide on the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency in the sales contracts of securities other than vehicle sales contracts, including construction equipment.
(7) Persons resident in Turkey; It is possible for them to decide on the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency in movable lease contracts, other than vehicle rental contracts, including construction equipment.
(8) Persons resident in Turkey; It is possible for them to decide on the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency in the sales contracts for software produced abroad within the scope of information technologies and the license and service contracts for hardware and software.
(9) In financial leasing contracts for ships defined in the Turkish International Ship Registry Law No. 4490 and the Law on Amendments to the Decree Law No. 491, it is possible to decide the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency.
(10) It is possible to decide the prices for financial leasing agreements to be made within the scope of Articles 17 and 17/A of the Decree No. 32 on the Protection of the Value of the Turkish Currency in foreign currency.
(11) In employment contracts to which persons residing in Turkey who have no citizenship ties with the Republic of Turkey are parties, it is possible to decide the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency.
(12) In contracts other than real estate sales and real estate rentals to which public institutions and organizations and Turkish Armed Forces Foundation companies are parties, it is possible to decide the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency.
(13) Provided that it is within the scope of the execution of foreign currency denominated or foreign currency indexed tenders, contracts and international agreements to which public institutions and organizations are parties; In contracts other than real estate sales, real estate rental and employment contracts that contractors will conclude with third parties, it is possible to decide the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency.
(14) In the contracts to which banks are parties regarding the transactions carried out by the Ministry of Treasury and Finance within the scope of the Law on the Regulation of Public Finance and Debt Management dated 28/3/2002 and numbered 4749, the contract price and other payment obligations arising from these contracts are determined in foreign currency or indexed to foreign currency. It is possible.
(15) Without prejudice to the provisions of the Decision No. 32 on the Protection of the Value of the Turkish Currency, capital market instruments (including foreign capital market instruments and depositary receipts and foreign investment fund shares) within the framework of the Capital Markets Law No. 6362 and the regulations made based on this Law. It is possible to create, export, purchase and sell in foreign currency and to decide on the obligations related to the transactions made in foreign currency.
(16) Non-residents in Turkey; In business and service contracts to which branches, representative offices, offices, liaison offices, companies in which they have a direct or indirect fifty percent or more shareholding, and companies in free zones within the scope of their activities in the free zone are parties, the contract price and other payment obligations arising from these contracts are denominated in foreign currency or indexed to foreign currency. It is possible to decide as follows.
(17) Commercial airlines located in Turkey and carrying out passenger, cargo or mail transportation activities; Companies that provide technical maintenance services for air transport vehicles, engines and their parts and accessories; Organizations with public or private law legal entity status that are licensed or authorized to perform ground handling services at airports within the scope of civil aviation legislation, as well as businesses and companies established by these organizations, and partnerships in which they directly or indirectly hold at least 50% of their capital, are resident in Turkey. It is possible to conclude contracts with persons other than real estate sales, real estate rental and employment contracts containing foreign currency or foreign currency indexed amounts.
(18) Pursuant to this article, it is not possible to determine the amounts in the negotiable instruments to be issued within the scope of contracts where the contract price and other payment obligations arising from these contracts cannot be determined in foreign currency or indexed to foreign currency.
(19) Contracts indexed to precious metals and/or commodities whose prices are determined in foreign currency in international markets and/or indirectly indexed to foreign currency are considered as contracts indexed to foreign currency within the scope of the application of clause (g) of Article 4 of the Decision No. 32 on the Protection of the Value of the Turkish Currency.
(20) Persons resident in Turkey abroad; branches, representative offices, offices, liaison offices, funds operated or managed, companies in which they have a fifty percent or more shareholding, and companies they directly or indirectly own, within the scope of the application of clause (g) of Article 4 of the Decision No. 32 on the Protection of the Value of the Turkish Currency. It is considered to be established in .
(21) Contracts that are included in the scope of exception in the contracts to be concluded in accordance with this article, but were concluded before the date of entry into force of the Provisional Article 8 of the Decision No. 32 on the Protection of the Value of the Turkish Currency, are also exempt from the provision of the said temporary article.
(22) Vehicle rental agreements, including construction equipment, concluded before the entry into force of the Provisional Article 8 of the Decision No. 32 on the Protection of the Value of the Turkish Currency, are exempt from the provision of the said temporary article.
(23) Pursuant to this article, the contract price and other payment obligations arising from these contracts must be re-determined by the parties in Turkish currency within the scope of Provisional Article 8 of the Decision No. 32 on the Protection of the Value of the Turkish Currency.
(24) If, in accordance with this article, the contract price and other payment obligations arising from these contracts cannot be agreed upon in contracts that cannot be determined in foreign currency or indexed to foreign currency, the parties are re-determined in Turkish currency within the scope of Provisional Article 8 of the Decision No. 32 on the Protection of the Value of the Turkish Currency; The prices determined as foreign currency or indexed to foreign currency in the contracts concluded, the equivalent of the said prices in Turkish currency calculated using the effective sales rate of the Central Bank of the Republic of Turkey, which is indicative as determined on 2/1/2018, shall be determined by the Turkish Statistical Institute from 2/1/2018 until the date of redetermination of the prices. The consumer price index (CPI) determined for the month is determined by increasing it based on monthly change rates.
The amounts determined in foreign currency or indexed to foreign currency in residential and roofed workplace rental agreements concluded before the entry into force of the Provisional Article 8 of the Decision No. 32 on the Protection of the Value of the Turkish Currency shall be determined in Turkish currency for a period of two years in accordance with the first paragraph of this paragraph. However, valid for one year from the end of the lease year in which the determination is made in Turkish currency; If the parties cannot reach an agreement while determining the rental price determined in Turkish Lira in accordance with the aforementioned paragraph, it is determined by increasing it based on the monthly change rates of the consumer price index (CPI) determined by the Turkish Statistical Institute for each month from the date of determination until the end of the rental year in which the determination is made. If the rental price for the next rental year is in Turkish Lira, and if an agreement cannot be reached while determining the determination by the parties, it is determined by increasing the rental fee valid in the previous rental year based on the monthly change rates of the consumer price index (CPI) determined by the Turkish Statistical Institute, and the determined rental fee in Turkish Lira is included in this paragraph. It is valid until the end of the specified two-year period.
The provision of this paragraph does not apply to receivables that have been collected or are overdue in contracts where it is not possible to determine the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency in accordance with this article.
(25) In this article, if the exempted parties request, by agreement, that the new contracts to be concluded be made in Turkish currency or that the amounts in existing foreign currency or foreign currency indexed contracts be re-decided in Turkish currency in accordance with the Provisional Article 8 of the Decision No. 32 on the Protection of the Value of the Turkish Currency, “The prices are determined in Turkish currency.”
ARTICLE 2 – This Communiqué shall enter into force on the date of its publication.
ARTICLE 3 – The provisions of this Communiqué shall be enforced by the Minister of Treasury and Finance.
Source; Resmi Gazete
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