New Regulation for Payments Above 7,000 TL Has Started

Under this new regulation, even non-taxpayers will be required to make payments over 7,000 TL to taxpayers through banks, financial institutions, or the Turkish Post (PTT). Failure to comply will result in penalties being imposed on both the payer and the payee.

Non-Taxpayers Included in the Regulation

According to the regulation, non-taxpayers must also comply with the requirement to document payments for goods or services exceeding 7,000 TL. If these payments are not made through banks or financial institutions, both the buyer and seller will face penalties, regardless of whether the payer is a taxpayer or not.

What About Those Without a Bank Account?

Individuals who do not have a bank account or do not use a credit card are still required to comply with the documentation requirement for payments over 7,000 TL. These individuals can make payments by going to bank branches, PTT offices, or ATMs to transfer the amount to the seller’s account, and this will be considered compliant with the regulation. However, if the payment is made in cash, even if the seller deposits it into their own bank account, both parties will be subject to penalties.

In a statement from the Ministry of Treasury and Finance, it was clarified: “If a consumer who does not have a bank account or credit card pays 15,000 TL for a product by depositing it into the seller’s bank account, no penalty will be imposed on either party. However, if the consumer pays 15,000 TL in cash to the seller, both the buyer and the seller will face penalties, even if the seller later deposits the cash into their bank account.”

This new regulation aims to strengthen the fight against the informal economy and broaden the tax base.

Kaynak: Industrial News Agency