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ARTICLE · 31 OCTOBER 2017

Turkey Introduces Electronic Invoices And Archives For Financial Factoring Transactions

Moroglu Arseven
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Details are also announced for retaining and using these electronic documents during financial factoring transactions.

TurkeyFinance and Banking
Dr. E. Seyfi Moroğlu, LL.M.
Dr. E. Seyfi Moroğlu, LL.M.
A. Başak Acar, LL.M.
A. Başak Acar, LL.M.
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Turkey's Banking Regulation and Supervision Agency has announced a series of changes, allowing electronic invoices and electronic archives to now be used for factoring transactions. Details are also announced for retaining and using these electronic documents during financial factoring transactions.

The Regulation Amending the Regulation on Procedures and Principles in Factoring Transactions ("Amendment Regulation") was published in Official Gazette number 30202 on 6 October 2017.

Notable changes include:

  • Definitions are introduced for:
    • "Electronic archive": Preservation and presentation of electronic invoices, having the necessary conditions under General Communique (Serial No: 433) of Tax Procedure Law published in Official Gazette number 28867 on 30 December 2013.

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