"Cyprus should be exempted from the decision to limit credit card installments for international tours"

"Cyprus should be exempted from the decision to limit credit card installments for international tours"
Date: 11.8.2023 12:30

"With the regulation brought by the Banking Regulation and Supervision Agency (BRSA), the practice of removing installments in foreign tourism expenditures with credit cards is challenging our travel agencies. At least, exemption of the TRNC from this regulation is of great importance for tourism professionals in both Turkey and the TRNC," Firuz Bağlıkaya, President of TÜRSAB says...

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Turkish Travel Agencies Association (TÜRSAB) President Firuz Bağlıkaya expressed the sector's expectation that package tours to the Turkish Republic of Northern Cyprus (TRNC) will be exempted in the recent decision by the Banking Regulation and Supervision Agency (BDDK) to limit credit card installments for international tours.
 
Noting that the TRNC is a country that uses Turkish Lira, Bağlıkaya made the following assessments:
 
"TRNC is a very important destination for Turkish tourism. It is a country where we are united politically, socially and economically. A citizen of the Republic of Türkiye who goes to the TRNC spends Turkish Lira. Therefore, there is no foreign exchange outflow. With the regulation brought by the Banking Regulation and Supervision Agency, the removal of installments in international tourism expenditures by credit card can be understood within the scope of economic measures, but exempting the Turkish Republic of Northern Cyprus from this regulation is of great importance for tourism professionals in both Turkey and the TRNC."
 

"HOUSING FOR RENT FOR TOURISM PURPOSE"

 
Reminding that the Ministry of Culture and Tourism is working on the legislation on rental housing for tourism purposes, Bağlıkaya said, "Houses rented for touristic purposes create serious problems for our industry. The number of tourists coming to Turkey is increasing, but hotel occupancy remains low. These leases must be controlled and recorded. In this context, houses rented for touristic purposes should be documented and met with tourists through travel agencies. Thus, gaps in taxation, control and security are eliminated."

YEREL HABERLER

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