With the new regulation published today in the Official Gazette by the Ministry of Treasury and Finance, all collection and payment transactions exceeding 7,000 Turkish Liras must now be conducted through banks or financial institutions. According to the General Communiqué on the Tax Procedure Law, any collection or payment exceeding 7,000 liras must be carried out through a bank or intermediary financial institution.
This regulation, which was officially enacted today through the General Communiqué on the Tax Procedure Law published in the Official Gazette, mandates that even non-taxpayers must process any collection or payment over 7,000 liras through a bank or financial institution. Separate penalties will be applied to parties that do not comply with the verification requirement.
Under this obligation, if a collection or payment exceeding 7,000 liras is transferred to the payee’s bank account or made in person at a branch of the financial institution with a detailed transaction explanation, the parties will be considered to have complied with the rules. If a person without a bank account or credit card goes to the seller’s bank and makes the payment, documenting it with a receipt, the verification requirement will be fulfilled, and no penalties will be applied.
However, if the seller accepts the payment in cash and then deposits it into their bank account later, both the buyer and seller will be considered non-compliant with the obligation, and separate penalties will be imposed on each party.
