Precious Metals Intermediaries and Refineries See Fee Increase in Line with Revaluation Rates

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Precious Metals Intermediaries and Refineries See Fee Increase in Line with Revaluation Rates

The Ministry of Treasury and Finance has increased the activity license fees for precious metal intermediary institutions and refiners by the revaluation rate.

In a statement, it was reminded that the third paragraph of Article 6 of the Regulation on the Fees to be Collected Within the Scope of Law No. 1567 on the Protection of the Value of Turkish Currency stipulates, “The fees determined by this Regulation shall be applied by increasing them by the revaluation rate determined and announced in accordance with the provisions of the repeated Article 298 of the Tax Procedure Law No. 213 dated 4/1/1961 for the previous year.”

It was noted that the fourth paragraph of the same article states, “The Ministry shall publish the fees that will be in effect from the beginning of the following calendar year by the end of December each year on the Ministry's website.”

The following information was provided in the announcement:

"In this context, the General Communiqué of the Tax Procedure Law (Sequence No: 574), which was published in the Official Gazette No. 32735 on 27.11.2024 and has entered into force, has determined the revaluation rate for 2024 as 43.93%, effective from 01.01.2025:

  • The activity license fee for precious metal intermediary institutions regulated by the first paragraph of Article 4/B of the Regulation will be 28,786,000 TL,
  • The activity license fee for precious metal refiners regulated by the first paragraph of Article 4/A of the Regulation will be 40,300,400 TL,
  • The annual usage fee for the Precious Metals Intermediary Institutions Information System (KMAKBS) regulated by the first paragraph of Article 5/A of the Regulation will be 503,755 TL,
  • The system presentation fee for KMAKBS regulated by the fifth paragraph of the provisional Article 2 of the Regulation will be 14,393,000 TL.

The fee amounts for various permit applications of authorized institutions specified in Appendix-1 of the Regulation will be applied as outlined in the table below."