As of 2024, an important legal regulation that closely concerns businesses and individuals in Turkey has entered into force. TRY 7,000 and above collections and payments must be made through financial institutions. This regulation aims to ensure fiscal discipline and combat the informal economy. Especially for SMEs, this change creates the necessity of maintaining payment processes on a transparent and legal basis. At this point, digital solutions such as Netahsilat, which provide great convenience to businesses, come into play.

So which transactions does this obligation cover and what should be considered? Let's take a closer look at the answers to these questions and share with you the practical details of the new regulation.

What is the Main Purpose of the Regulation?

Enacted in 2024, the bank payment obligation is based on the Tax Procedure Law. The main purpose of this regulation is to ensure transparency of large-scale transactions and prevent the flow of unrecorded money. In other words, all payments over a certain amount will now be made through banks or financial institutions.

The General Communiqué on Tax Procedure Law (Serial No: 572) introduces important amendments including regulations for non-taxpayers. In this context, individuals who are not taxpayers are also obliged to realize their collections and payments exceeding TRY 7,000 through financial institutions. For example, daily transactions such as a public official's purchase of white goods or an individual's purchase of furniture will also be evaluated within the framework of these rules. Failure to comply will result in penal sanctions for both the buyer and the seller.

This regulation also aims to make the transaction processes of non-taxable persons transparent. The set payment limits and methods allow for stricter monitoring for non-taxpayers. Thus, it requires all transactions to be documented through the banking system. From now on, all payments exceeding a certain amount will be made through financial institutions and will need to be certified by documents issued by these institutions.

Who are Non-Taxpayers?

First, let us clarify who are non-taxpayers. Non-taxpayers are individuals who do not have any commercial activity, individuals who are not self-employed and individuals such as farmers who are not obliged to keep books. These individuals are generally not considered taxpayers as they do not own a commercial enterprise.

However, new regulations require non-taxpayers to comply with certain rules in certain transactions.

What are the Changes?

• Non-taxpayers are also now obliged to make payments through financial institutions for purchases exceeding 7,000 TL.

• If the payment document is missing, both the buyer and the seller will be subject to penalization.

• It becomes mandatory to make payment by going to the financial institution and document the necessary explanations.

Which Transactions are Covered?

The regulation covers various types of payments and there are many details you should pay attention to. Payments such asdeposits, advances, down payments, and purchases of goods and services exceeding TRY 7,000 are subject to this obligation. If the total amount of a transaction exceeds TL 7,000, the remaining portion must be made through banks or other financial institutions.

To illustrate with an example, even if a business makes many small transactions on different days, if the total amount of these transactions exceeds 7,000 TL, the obligation to pay through the bank is triggered from that moment on.

Excluded Transactions

Not all transactions are subject to this regulation. For example, fees collected through court or execution, payments made in kind (goods, services, etc. non-cash) are excluded from this obligation. However, it should be noted that when the sum of more than one transaction with the same person exceeds TRY 7,000, it becomes mandatory to realize the exceeding portion through financial institutions.

Penalties to be faced by those who do not comply with the Tax Procedure Law

There are serious penalties for each transaction that is not made through a bank in violation of the Tax Procedure Law. These penalties can multiply starting from 3,400 TL for each transaction. For this reason, it is vital that businesses, especially those carrying out commercial activities, are able to document all kinds of payments and collections. Payments made through the bank not only eliminate potential criminal risks, but also enable businesses to fully comply with financial regulations.

Netahsilat is a comprehensive payment platform that minimizes all these risks. It guides SMEs on legal compliance and prevents potential problems.

What to do in Cash Payments

Paying cash by hand has become riskier under the new obligation to pay through a bank. These new regulations require all cash payments over a certain amount to be documented through financial institutions. If cash transactions are not made through financial institutions, both the buyer and the seller can face serious penalties.

For example, if a person pays for an item worth TL 15,000 in cash directly from hand and the payment is not documented through a bank or financial institution, the transaction is considered legally invalid. In this case, both the buyer and the seller are penalized in accordance with the Tax Procedure Law as the payment cannot be officially proven. Unless the money is deposited in the bank and a financial document is issued, the transaction is considered unrecorded.

For this reason, people who want to make cash payments under the new regulations must make transactions through financial institutions and document the payment. Unless a certification document (proof of payment) is issued through a bank for cash-in-hand payments, it is considered an irregularity under the Tax Procedure Law and fines will be imposed on the parties. Paying attention to this rule, especially for large transactions, will prevent possible sanctions for both the buyer and the seller.

Netahsilat Digital Payment Solution for SMEs

Effective 2024, this regulation requires innovative digital solutions for SMEs. Netahsilat offers businesses a flexible and effective payment system at this point. This digital solution makes it easier for not only large-scale companies but also small and medium-sized enterprises to manage their payment processes.

Advantages offered by Netahsilat:

• Fast and Secure Payment:

  All payments become easily traceable for SMEs.

• Legal Compliance:

  All transactions are carried out in full compliance with financial regulations.

• Protection from Penalties:

  Thanks to Netahsilat, you can document your payments and avoid legal sanctions.

For example, a payment of 8,000 TL to be received by an SME from its customer can be easily made through Netahsilat and the payment process can be fully documented. Thus, both the customer and the business act in accordance with the obligation to pay from the bank.

Start Using Netahsilat Now!

If you want to maintain the payment processes of your business on a transparent, fast and legal basis, meet Netahsilat now. Netahsilat, which provides great advantages especially for SMEs, fully complies with legal regulations and increases the efficiency of the business.

As of 2024, the obligation to pay from the bank requires businesses to carry out a more careful and transparent payment process. Innovative solutions like Netahsilat offer a great advantage to fully comply with this regulation and avoid criminal risks.

Choose Netahsilat to maintain your own financial processes on a secure and legal basis and make a difference in the payment processes of your business!

In order to maintain your financial processes on a safe and legal basis, if you are in doubt about this issue, it is definitely useful to get professional support from a financial advisor or accountant. This way, you can run your business smoothly and minimize the risk of facing criminal sanctions.