Circular 2025 - 064
VRHIB Requirement for Service Exports in the Support for Conversion of Foreign Currency Sourced Abroad into Turkish Lira
With amendments made to the Implementation Instruction of the Directorate General of Treasury and Corporate Operations of the Central Bank of the Republic of Türkiye, published on December 8, 2025, regulations have been made regarding the foreign currency conversion support application related to foreign currency-generating services.
According to the regulation, an obligation has been introduced for the documentation of the support to be provided in foreign exchange generating services with a VRHİB (tax, duty, and fee exemption certificate).
With the amendment made to Article 8 of the Communiqué, it has been stipulated that ‘ (15) Foreign currency for export proceeds, foreign currency of foreign currency-generating service fees with the VRHİB and foreign currency for sales made abroad by companies operating in free zones, approved by the Free Zone Directorate's Free Zone Transaction Form, cannot benefit from foreign currency conversion support unless presented to the intermediary bank,’ thereby introducing the obligation to present VRHİB for service exports.
With the amendment made to Article 5/1(a) of the Implementation Decree, the foreign exchange conversion support related to foreign exchange generating services is now limited to the scope of business and amount registered in the companies‘ VRHİBs (Foreign Exchange Earning Service Registration Certificate). The conditions determined in Article 8, paragraph 19 of the Directorate General of Communications (HT) regarding the aforementioned limitation are as follows: ’Foreign exchange conversion support shall be paid for foreign exchange earning service revenues, provided that the company has a valid VRHİB and the foreign exchange obtained from invoices related to the activity covered by this VRHİB is sold to the Central Bank. The amount of foreign exchange to be sold to the Central Bank cannot exceed the amount of activity registered in the company's VRHİB. A written declaration is submitted by the companies to the intermediary banks that the conditions specified in this paragraph are met, and the intermediary banks verify whether this declaration reflects the truth.’
You can find the application instructions at the following link.
Sincerely
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