The Turkish Ministry of Treasury and Finance released General Communiqué No. 572 on 18 October 2024, amending the Tax Procedure Law (TPL) General Communiqué No. 459 to enforce stricter documentation requirements for payments involving non-taxpayers.
Under this new regulation, individuals and entities that do not file taxes must process transactions exceeding TRY 7,000 through financial institutions to ensure proper documentation.
Both buyers and sellers are required to retain records issued by these institutions. Failure to comply with the new payment documentation rules will incur penalties for both parties, with separate fines imposed on each for non-compliance.
The Communiqué entered into force on 18 October 2024.
