03December2024

The Certification Limit for Collections and Payments Has Been Increased

With the General Communiqué numbered 575 published in the Official Gazette dated November 30, 2024, the amount limit determined within the scope of the obligation to certify collections and payments with documents issued by banks, electronic payment institutions or post office was increased from 7,000 TRY to 30,000 TRY. It is obligatory for those who are within the scope of the obligation to certify, to make all kinds of collections and payments exceeding 30,000 TRY through intermediary financial institutions and to certify these collections and payments with the documents issued by these institutions.

The obligation to deposit the amounts collected in relation to the transactions to be made with real persons who are not residents of Türkiye to the intermediary financial institutions until the end of the first business day following the collection has been abolished. The obligation to write the passport number of the persons in question on the invoices to be issued continues, and a copy of the passports does not need to be attached to the invoice.

You can reach the related circular here (In Turkish).

Should you have any queries or need further details, please contact your customer representative.

Author Erdem Duman, Category Taxation Law

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