NEWSLETTER-2019-metin

208 NEWSLETTER 2019 work other than construction, repair and maintenance of ships as de- fined in the Turkish International Ship Registry Law dated 16/12/1999 and numbered 4490, and the Law on Amendment to Decree Law num - bered 491 ”. In accordance with paragraph 8 of Article 8 of Communiqué on Decree No. 32 amended “ again ” by Article 1 of Communiqué No. 2018-32/52 on contracts for work, a regulation has been brought as “ Turkish residents can determine a contract price and other payment obligations arising from contracts to be in foreign currency, or in a manner indexed in a foreign currency in contracts for work that in- clude costs in a foreign currency”. “Contracts for work to be concluded by Turkish residents amongst themselves, and which include costs in foreign currency,” which were clearly left out from the exemptions in accordance with the first Communiqué, in other words, the payment cannot be determined in a foreign currency, were included within the scope of the exemption through Communiqué No. 2018-32/52. The Main Problem arising in Practice Many controversies have arisen as to the fate of the contracts for work to be concluded by Turkish residents amongst themselves, and which include costs in a foreign currency that was converted to Turk- ish currency pursuant to the mentioned regulation in the first Com- muniqué, upon including them within the scope of the exemptions in Communiqué No. 2018-32/52, although they were concluded before the date of publication of the first Communiqué, and the price has been determined as a foreign currency amount. The job holders expressed the opinion that the contracts should continue in Turkish currency, while the contractors suggested that the contract prices should continue as foreign currency amounts. Some Legal Arguments to solve the Problem Before explaining our views on this subject, if we continue with the aforementioned example, it is necessary to state that it is not rea- sonable that the regulators of the said Communiqués consider that