Export Cancellation Lower Limit Decreased to 15 Thousand Dollars

The lower limit of cancellation, which was 30 thousand dollars, determined as the export price, was reduced to 15 thousand dollars. As of April 25, export earnings of more than $15,000 will be allowed to be brought into the country. The CBRT recorded a new regulation regarding the importation of export prices. The lower limit of cancellation, which is 30 thousand dollars in exports, will be reduced to 15 thousand dollars as of April 25, 2022. The specified 30,000 USD in the 1st paragraph of the 28th article titled "cancellation" of the CBRT's Export Circular dated January 16, 2020, was re-issued as 15,000 USD by the Central Bank upon the letter of the Ministry of Treasury and Finance dated 21.04.2022 and numbered 1150193. The writer of World newspaper, Abdullah Tolu, recorded the following statements regarding the arrangement: "After this change, for each customs declaration; Export accounts with a deficiency of up to 15,000 USD or its equivalent, regardless of the direct payment method by banks and their ratio to the total declaration amount, Export accounts with a deficiency of up to 10 percent of the value in the declaration or form (including deficiencies arising from insurance costs) that are higher than 15,000 US dollars or its equivalent, but not exceeding 100,000 US dollars or its equivalent, can be made directly by the banks or by the relevant Tax Offices within the 90-day warning period. / Regardless of the payment method by their directorates, Open accounts up to 10% of the value in the declaration or form, not exceeding 200,000 USD or its equivalent, by considering the force majeure and justified situations specified in Article 9 of the Communiqué No. 2018-32/48. It will be closed by the Directorate of the Department of Education by cancellation."