E-CURRENCY TRADING DOCUMENT

What is the E-Currency Trading Document?

The e-Currency Trading Document is a completely digital version of the printed Foreign Exchange Purchase Document and the Foreign Currency Sale Document, which are issued in foreign exchange buying and selling transactions carried out through authorized institutions.

Who is required to use e-Currency purchase/sale application?

It is obligatory to issue an e-Currency purchase/sale document in foreign exchange transactions carried out through all banks, private finance institutions and foreign exchange offices operating in Turkey.

e-Currency Exchange Certificate Users

As of January 1, 2022, it is obligatory to issue an e-currency purchase/sale document in foreign exchange transactions carried out through all banks, private finance institutions and foreign exchange offices operating in Turkey.

e-Currency Buying/Selling System

It is the issue of foreign exchange buying and selling documents, which are obliged to be issued and kept in paper form, as electronic documents through banks and transmitted to the addressee in electronic or paper form in line with his/her request.

Creating an e-Foreign currency purchase/sale document

The issued e-Foreign currency purchase/sale documents are created through the banks' system and sent to the Revenue Administration. One copy is given to the customer as an e-mail, SMS or paper print, and one copy is kept in the system for 10 years.

What information should be included in the e-Currency Trading Document?

- Taxpayer's name, surname and title, address, Tax Office and tax number,
-The serial and sequence number of the foreign currency purchase and sale document,
- Name, surname, nationality and title of the person and organization selling the currency,
- Information on the foreign currency sold; country of origin, reason for arrival, type, exchange rate applied, TL equivalent, USD equivalent, export method, delivery method, date and number of customs exit declarations, exit port, payment method of foreign currency brought into the country (deductions, remaining net amount) and explanation
- Date, name, stamp and signature.
It is also possible for companies to include different information on the document in addition to the mandatory information.
If the Presidency needs it, it may be requested from authorized institutions to include different information in the e-Foreign Exchange Purchase-Sale document in addition to the aforementioned information. It can be requested by giving at least 3 months for the necessary preparations and by announcing it on the website of the Revenue Administration.

e-Invoice Implementation Mandatory

In order to issue an e-Foreign currency purchase/sale document, it is necessary to be included in the e-Invoice application first.

Should separate electronic documents be prepared for each transaction?

Yes. It is obligatory to issue a separate e-Currency purchase/sale document for each foreign currency purchase and sale transaction.

 

As U&T Law, we provide reliable service to foreigners who want to acquire Turkish citizenship through the purchase of real estate with our expert lawyer staff. You can reach us at the following contact addresses and get legal and procedural support in these processes.