Press Release on the Abolition of Summary Foreign Exchange Position Reporting No. 2023-43 and Scope Change of Systemic Risk Data Monitoring System” was published
On November 8, 2023, within the scope of the “Regulation Amending the Regulation on the Procedures and Principles Regarding the Monitoring of Transactions Affecting Foreign Exchange Position by the Central Bank of the Republic of Turkey” published in the Official Gazette No. 32363 dated November 8, 2023, the Central Bank of the Republic of Turkey published the “Press Release on the Abolition of the Summary Foreign Exchange Position Reporting No. 2023-43 and the Scope Change of the Systemic Risk Data Monitoring System” dated November 8, 2023.
Within the scope of the aforementioned Regulation, with the “Press Release on the Abolition of Summary Foreign Exchange Position Reporting No. 2023-43 and Scope Change of the Systemic Risk Data Monitoring System” dated November 8, 2023 published on the website of the Central Bank of the Republic of Turkey;
Within the scope of the Regulation, the Summary Foreign Exchange Position Reporting practice, which was initiated in March 2023, was terminated for firms with a total cash and non-cash loan balance of TL 10 million or more. The requirement of having a foreign currency loan liability of USD 15 million or more, which was stipulated in the determination of the companies to be included in the scope of the reporting, was changed as having a total cash loan balance of TL 100 million or more as of the last business day of the relevant monthly accounting period or having a net sales revenue or asset size of TL 500 million or more in the previous one-year accounting period.
Taxpayers within this scope are required to submit their Summary Foreign Exchange Position Reports for the 2024/January period on February 29, 2024 at the latest.
You can access the Announcement dated November 8, 2023 published on the website of the Central Bank of the Republic of Turkey here.
Sincerely,
BİLGENER
