Türkiye prepares to introduce a limit on cash payments: no more than 7 thousand lira per purchase
Turkey's tax authority is proposing to limit cash purchases to 7,000 Turkish lira ($205). Exceeding this limit will require cashless payments, and violations will be punishable by fines.
The Turkish Tax Administration has presented a draft of amendments to the tax law that will limit the maximum amount of cash purchases to 7,000 Turkish lira (about $205). If the amendments are adopted, any amounts exceeding this limit will have to be paid by non-cash means - through bank cards, money transfers or official intermediaries.
Violation of this requirement will be punishable by fines: no less than 5,000 Turkish lira (about $150) or 10% of the purchase amount. These measures are aimed at reducing the use of cash in the economy and strengthening control over financial transactions.
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