The limit for credit card payments has changed.

The obligation for payments related to the purchase of goods or services by consumers to be made through banks and financial institutions has been raised from 7 thousand lira to 30 thousand lira.

The Communiqué on Amendments to the General Communiqué of the Tax Procedure Law, prepared by the Revenue Administration of the Ministry of Treasury and Finance, has been published in the Official Gazette and has come into force.

MANDATORY AMOUNT INCREASED

Accordingly, the mandatory amount for payments related to the purchase of goods or services exceeding 7 thousand lira by consumers has been increased to 30 thousand lira in the application of making payments through banks and financial institutions. Adjustments have also been made to the amounts in the examples included in the communiqué.

NEW REGULATION REGARDING FOREIGNERS

On the other hand, a change has been made in the obligation to document that payments and collections related to transactions with foreigners and individuals who do not reside in Turkey (excluding non-taxpayers) must be made through intermediary financial institutions.

As part of the application, it is required to include the passport numbers of foreigners or individuals who do not reside in Turkey on the invoices to be issued. With the new regulation, it will no longer be necessary to attach a copy of the passport to the invoice.

There will also be no requirement for the collected amounts to be deposited into intermediary financial institutions by the end of the first business day following the collection.