In Contracts For The Sale of Movables, The Opportunity For Payment In Foreign Currency Has Been Re-introduced.

The Communiqué Amending the Communiqué on Decree No. 32 on the Protection of the Value of Turkish Currency (Communiqué No: 2008-32/34), published in the Official Gazette dated March 6, 2025, (Communiqué No: 2025-32/72) (“Amendment Communiqué”) has brought certain changes to the Communiqué on Decree No. 32 on the Protection of the Value of Turkish Currency (“Communiqué No: 2008-32/34”).

With the Amendment Communiqué, it has become possible for residents in Turkey to agree on contract prices and other payment obligations arising from contracts for the sale of movables, excluding vehicle sales contracts, in foreign currency or indexed to foreign currency.

The Communiqué No: 2008-32/34 published in the Official Gazette dated April 19, 2022, and numbered 31814, ruled that even if the consideration in the sale of movables was determined in foreign currency, the payment should be made in Turkish Lira and this regulation had caused significant issues, especially for importing companies. The Amendment Communiqué aims to solve these problems and coming into effect on its publication date, March 6, 2025.

Additionally, the Amendment Communiqué, made a further clarification that payment obligations to be agreed upon in foreign currency or indexed to foreign currency are allowed for contracts, other than real estate sales and leases, to which public institutions and organizations or companies of the Turkish Armed Forces Foundation and companies possessing (A) or (B) level certification within the scope of the Industrial Competence Evaluation and Support Program (EYDEP) are parties.