TAX NEWS NO: 2017/3
September 20, 2017
Council of Ministers decision on cancellation of the Turkish Lira payment obligation in free zones.
The Council of Ministers Decision No. 2017/10718 pertaining to cancellation of obligation to make payments in the Turkish Lira in Free Zones has been published in the Official Gazette dated 20 September 2017 to be effective as of 1 October 2017.
Previously, the Council of Ministers Decision No. 2017/10051 dated May 11, 2017 had enforced to make payments in the free zones in Turkish Lira, excluding the trade between the free zones and countries other than Turkey.
As per the recent Council of Ministers Decision No. 2017/10718, any kind of payments related to activities in free zones could be made in foreign currency or Turkish Lira as of 1 October 2017.
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