Turkey's Revenue Administration has announced the issuance of a guide concerning the obligation to use financial institutions for payments over TRY 30,000. As per General Communiqué No. 575, published 30 November 2024, the threshold for the obligation to use a financial institution and certify collections and payments with documents issued by financial institutions was increased from TRY 7,000 to TRY 30,000. The guide outlines the requirements, including details on which entities and transactions are subject to the requirements, specifying the required documentation and penalties for non-compliance. It clarifies the use of financial intermediaries like banks for these transactions and provides...