The data on Türkiye’s exports in 2022 is announced at the meeting held in İstanbul with the participation of President Recep Tayyip Erdoğan. Record-breaking exports reached 254 billion dollars in 2022.

TİM’s Chairman Mustafa Gültepe said that, exports increased to 162 countries and broke the annual records in 108 countries.

In spite of the negative effects of the slowdown in global markets, Türkiye’s exports hit record once again. Türkiye’s exports reached 254 billion dollars, with 12.9% annual increase.

President Recep Tayyip Erdoğan announced 2022 exports data at the meeting held in İstanbul with the participations of Minister of Trade Mehmet Muş, Minister of Industry and Technology Mustafa Varank, Minister of Treasury and Finance Nureddin Nebati, and Minister of Energy and Natural Resources Fatih Sönmez. Turkish Exporters Assembly’s (TİM’s) Chairman Mustafa Gültepe said that there wasn’t even a single country which has not been familiar with Turkish products. Gültepe continued by stating that:

TOP THREE EXPORT PARTNERS WERE GERMANY, USA, AND IRAQ

“Germany, USA, Iraq, UK and Italy were our top 5 export partners. The countries that our exports increased the most are Russia, Iraq, USA, Germany, and Romania, in descending order. While we increased our exports in 162 countries, we hit records in 108 countries. We increased the number of countries that we exported more than $1 billion to 52. While our 16 sectors hit records, our 23 sectors’ exports exceeded $1 billion. 21,501 new exporters joined our family, whose exports reached at $3.7 billion in total.

UNIT VALUE INCREASED TO $1.44

Mustafa Gültepe noted that, TİM and exporters associations organized 72 trade delegations in 43 countries and welcomed 38 delegations in Türkiye in 2022, and they held total of 26 thousand bilateral talks during these delegations. “We attended a total of 184 expos, domestic and overseas, in variety of sectors. We increased our unit export value to $1.44 per kilogram, with an increase of 14.7.%”, said Gültepe.

WE WORK WITH THE VISION OF ADDING TÜRKİYE AMONG TOP 10 EXPORTERS

Gültepe, noting that they revised TİM’s vision and mission in accordance with the changes and transformations in global markets, said that they work with the vision of making Türkiye one of the top 10 exporters. “To introduce our country’s production potential to the world we will boost our overseas activities. We will hold 100 trade delegations in 60 cotunries, and 45 purchasing delegations from 120 countries. We will attend 250 expos in 55 countries with exporters associations”, said Gültepe.

Source: Turkish Exporters Assembly’s (TİM)
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

1.2. In the event of changing export proceeds into Turkish Lira, banks should prepare Foreign Exchange Purchase Document. It is possible to write the data related to company’s declaration and customs declaration on Foreign Exchange Purchase Document without demanding any other document from exporter companies which require purchase document in order to export.

1.3. If a company demands to prepare Foreign Exchange Purchase Document while exporting with Turkish Lira, it can do it. However, in case of export with private invoice, it is required to act upon views and instructions of Ministry of Economy and Undersecretariat of Foreign Trade.

1.4. In case of purchasing foreign exchange as export proceeds, it is required by banks that foreign exchange should be originated from abroad.

2.Collecting Export Proceeds
It can be collected;
2.1. via banks as a money order
2.2. in cash/effective (by the third persons who reside abroad or in Turkey and declare that they are importer, exporter or those who act on behalf of them)
2.3. via cheque (by the third persons who reside abroad or in Turkey and declare that they are importer, exporter or those who act on behalf of them)
2.4. via credit card

3.Export proceeds can also be collected as a credit given to real persons or legal entities or issued by the banks in Turkey or abroad.
4.It is possible to transfer export proceeds to Foreign Exchange Deposit Account and collect it wholly or in part from that account as export proceeds.
5.One can get export proceeds on behalf of manufacturing or exporting company from Foreign Exchange Deposit Account opened on behalf of a person or a company (which has a proxy) with foreign exchange on condition that power of attorney should be prepared before exporting.

3.Cash/Effective Collection of Export Proceeds
3.1. Customs Administration should detect with certified Cash Flow Statement whether effective export proceeds brought from abroad or not.
3.2. In order to get the effective being subject for Cash Flow Statement as export proceeds;
-It should be openly stated in the field of “Reason for Arrival” that the source of the effective is “export”.
-Identification of the person who submits Cash Flow Statement is compulsory.
-Written statement of exporter is also needed.

In the event that the amount of effective registered in Cash Flow Statement is completely attached to Foreign Exchange Purchase Document, it should be kept in by the bank without giving the original ones to those concerned. In the event that it is partially attached, the original one should be given to those concerned after writing a note on Cash Flow Statement about the amount attached to Foreign Exchange Purchase Document and make a photocopy of it.

3.3. Effectives delivered to the banks and registered in Cash Flow Statement can be sold to the banks by those concerned or can be transferred to Foreign Exchange Deposit Account opened in the name of foreign purchaser or exporter in Turkey. Afterwards, Foreign exchanges transferred to Foreign Exchange Deposit Account can be collected on behalf of exporting company. In the event that effectives registered in Cash Flow Statement is transferred in Foreign Exchange Deposit Account completely, it should be kept in the bank without giving the original ones to those concerned. In the event that it is partially collected, , the original one should be given to those concerned after writing a note on Cash Flow Statement about the amount attached to Foreign Exchange Purchase Document and make a photocopy of it.

3.4. Collecting the effective as export proceed by a bank (in the event that export proceed received as a transfer by those concerned is collected as effective from the bank) can be done providing that document of intermediary bank, which proves that effectives come from abroad, is submitted or the bank, which carries out transaction, gets the confirmation that foreign exchange (being a subject for effective) comes as a transfer.

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

The provisions applied to legally obligated institutions are also valid for limited taxpayers.

3- WHAT IS THE CORPORATE TAX RATIO OF MERGED PRODUCING SMES?
Council of Ministers has an authority to apply 75% discount for Corporate Tax on;
3.1- The incomes gained exclusively from productive activities in financial period ending at the date of merging and
3.2- Income gained from productive activities including the merging company’s financial period (when the merger takes place) of the small-and medium-scaled enterprises, dealing with containing and virtual productive activities for merging industrial registry certificate within the scope of article 19 of the Corporate Tax Law. Furthermore, it has authority to differentiate this discount ratio separately or together in respect for sectors, business branches, productivity areas, regions and financial periods or for institutions producing medium and high technology products or manufacturer and exporter. Additionally, the Ministry of Finance has an authority to determine rules and procedures related to enforcement of this sub clause.

Source: Corporate Tax Law

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.