A bank requirement has been imposed for collections and payments exceeding 7,000 Turkish Lira.

It has been mandated that collection and payment transactions exceeding 7 thousand lira must be conducted through banks or intermediary financial institutions. The General Communiqué of the Tax Procedure Law by the Ministry of Treasury and Finance was published in today's Official Gazette.

PUBLISHED IN THE OFFICIAL GAZETTE

The General Communiqué of the Tax Procedure Law by the Ministry of Treasury and Finance has been published in the Official Gazette. With this communiqué, it has been mandated that all collection and payment transactions exceeding 7 thousand lira must be conducted through banks and financial institutions. According to the communiqué, those who are not taxpayers will also make their purchases exceeding 7 thousand lira through intermediary financial institutions, which are subject to the obligation of proof. Separate penalties will be imposed on parties that do not comply with the obligation of proof.

PAYMENT CAN BE MADE BY GOING TO A BANK BRANCH

For collections and payments exceeding 7 thousand lira, if the payment is made by going directly to the branches of intermediary financial institutions and including explanations related to the transaction, it will be considered that the obligation of proof has been complied with. If a person without any bank account or credit card pays for goods or services by going to a branch of the bank where the seller's account is located, providing explanations related to the transaction, and obtaining a bank receipt in return, it will be considered that the obligation of proof has been complied with, and no penalty will be applied.

PENALTIES MAY APPLY TO BUYER AND SELLER

If a person without any bank account or credit card purchases a product exceeding 7 thousand lira, and the seller receives this money in cash and later deposits it into their own bank account, it will be considered that the obligation of proof has not been complied with, and separate penalties will be imposed on both the buyer and the seller.