Cash Payment Ban!
For any transactions where one party is a taxpayer, payments exceeding 7,000 TL will no longer be allowed in cash.
The amendment to the General Communiqué on the Tax Procedure Law (No. 572), which modifies the General Communiqué No. 459, was published in the Official Gazette dated 18.10.2024.
With the published amendment:
Non-taxpayers will be required to make payments through banks and financial institutions for transactions exceeding 7,000 TL with first and second-class merchants, self-employed professionals, merchants whose income is determined through the simplified procedure, farmers required to keep records, and craftsmen exempt from taxes.
Consequently, non-taxpayers must conduct transactions over 7,000 TL with the above-mentioned individuals through banks and financial institutions. Failure to comply will result in penalties for non-taxpayers as well.
In cases where a non-taxpayer does not have a bank account or credit card, payments exceeding 7,000 TL must be made by visiting the branches of intermediary financial institutions, and the payment details must be clearly stated.
Collections subject to certification must be deposited into the bank account by the end of the first working day following the collection, especially in transactions with foreign nationals and/or non-resident individuals in Turkey. In such cases, the passport number must be included on the invoice.
The regulation does not apply to transactions over 7,000 TL between non-taxpayers or those exempt from the certification requirement under the Communiqué No. 459.
The amendment came into effect on 18.10.2024.
Non-taxpayers who fail to comply with this requirement will be subject to a special irregularity penalty of 10% of the transaction amount for each violation.
