CLIENT ALERT

March 2017

   

 

For further information please contact:

Av. Burcu Eren
Partner, Istanbul
b.eren@cergun.av.tr

Av. Ayça Özbek
Associate, Ankara
a.ozbek@cergun.av.tr

Ergün Avukatlık Bürosu İstanbul | Levent Loft II, D: 13-16, Levent
T +90 (212) 280 90 91

Ankara | Mahall Ankara, E Blok, D: 63, Çankaya
T +90 (312) 220 30 60

E info@cergun.av.tr

W cergun.av.tr

Reduction in RUSF Rates for TRY Facilities Utilized from Abroad

In accordance with the Council of Ministers’ Decree published in the Official Gazette on 15 March 2017, the Resource Utilization Support Fund (RUSF) rates for TRY facilities utilized from abroad, which was 3% prior to this Decree, have been re-determined as:

  • 1%  for TRY facilities with a maturity up to 1 year, and
  • 0% for TRY facilities with a maturity of 1 year or more.

Such reduction in RUSF rates will not be applicable for fiduciary transactions where the funds established in Turkey are first taken abroad by means of a bank or branch established abroad and then transferred back to Turkey.

 

This information is provided for your convenience and does not constitute legal advice. It is prepared for the general information of our clients and other interested persons. This should not be acted upon in any specific situation without appropriate legal advice. This information is protected by copyright and may not be reproduced or translated without the prior written permission of Ergün Avukatlık Bürosu.