On the Official Gazette numbered 30534 dated 13.9.2018, it has been announced with the Presidential Decree numbered 85 to make amendments on the recently announced Decree Law numbered 32 “the Protection of the Turkish Currency”.
According to the newly announced Decree, the below shall be applicable starting as of 13/9/2018:
- It is prohibited to have foreign currency-based contracts or contracts with foreign currency payment duties for the parties which are located within the borders of Turkey in relation to all types of property and real estate purchase, sale and lease agreements, vehicle purchase / sale and lease agreements, service, employment and similar agreements. The clause is applicable to all local parties in Turkey unless the party is announced to have certain exception by the relevant authority.
- As of the date this Law is in force (Sept, 13), within 30 days all the rates, values, prices which are to be agreed on foreign currency, shall be adjusted with Turkish currency (TRY) fees. The clause is applicable to all local parties in Turkey, unless the party is announced to have certain exception by the relevant authority.