New regulations have been introduced regarding the import transactions of precious metals brokerage firms in Türkiye.
The regulation titled “Amendment to the Regulation on the Operating Principles of Precious Metals Exchange Brokerage Firms and the Establishment of Precious Metals Brokerage Institutions,” prepared by the Ministry of Treasury and Finance, was published in the Official Gazette and has entered into force.
Under the new rules, amendments were made to the article governing the import procedures of precious metals brokerage firms.
Accordingly, for import transactions, brokerage firms are now required to provide the parties they intermediate for with a written declaration to be submitted to banks. This declaration must include the customs declaration information of the related export transaction as well as the equivalent amount of the import in standard unprocessed gold and foreign currency.
The written declaration must be issued and approved by the Exchange, subject to the favorable opinion of the Ministry, making it mandatory within the scope of import-related procedures carried out by precious metals brokerage firms.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök