Türkiye wants to limit cash payments: it will become more difficult for Russians to make purchases
15.09.2024 17:25
The Tax Authority plans to amend Turkey's tax laws regarding cash payments.
The tax authorities consider it necessary to introduce a limit on the maximum amount of purchases when paying in cash.
If the amendments are adopted, purchases worth over 7,000 lira (over $206) will only have to be paid for with cards, writes the newspaper Ekonomim .
The administration believes that cash payments for the purchase of goods should be limited.
Violators will be subject to fines of up to $146 or up to 10 percent of the purchase amount.
The developers of the initiative want to increase the transparency of financial transactions and optimize the tax collection process by introducing the restriction.
