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ARTICLE · 19 DECEMBER 2022

Bringing Export Prices To Turkey And The Related Sanctions

Some legal obligations have been introduced to protect the Turkish currency's value.

TurkeyInternational Law

According to article 3 of the law on the Protection of The Value of the Turkish Currency, "Those who import and export all kinds of goods, assets, services, and capital or which mediate in these matters, those who do not bring their receivables arising from these transactions to the country per the provisions of the decisions taken under article 1 and within the periods determined in these resolutions, are punished with an administrative fine of up to five percent of the current market value. Until the decision regarding the administrative fine is finalized, those who bring their receivables to the country are given an administrative fine following the first paragraph. However, the administrative fine to be imposed cannot be more than two and a half percent of the money to be brought into the country." is stated.

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