The Regulation on Amendments to the Regulation on the Principles and Rules to be Applied in Retail Trade entered into force by being published in the Official Gazette dated 07.12.2022. With the amendment, chain stores, which are engaged in the sale of fast-moving consumer goods in the food retail sector and with more than two hundred branches, are obliged to transfer the data regarding the products they present to sale…
In accordance with Article 397 of the Turkish Commercial Code numbered 6102, companies to be subject to independent audit are determined by the President. Based on this, Presidential Decision on Determination of Companies Subject to Independent Audit, numbered 6434 has been published in the Official Gazette dated 30 November 2022. With this decision, the Decision on Determination of Companies Subject to Independent Audit, which was put into effect by the…
The Law on Amending the Tax Procedure Law has been published in the Official Gazette dated 26 November 2022. With amendments made in the Tax Procedure Law numbered 213; In order to ensure the security of collection of taxes arising from taxpayers engaged in motor vehicle trade, defined in the Special Consumption Tax Law, the Ministry of Treasury and Finance has been authorized to receive warranty of up to 30…
The Law on Amending the Tax Procedure Law and Some Other Laws has been published in the Official Gazette dated 26 November 2022. In this Law, with the amendments made in the Tax Procedure Law numbered 213; All kinds of premiums and premium-related debts arising from the insured’s own insurance, including the general health insurance premium, of the insured person who dies as a result of an occupational accident in…
The Law on Amending the Tax Procedure Law and Some Other Laws has been published in the Official Gazette dated 26 November 2022. In this Law, with the amendments made in the Law on Financial Stability and Some Regulations numbered 4059; The Price Stability Committee has been established, to contribute to the permanent establishment and maintenance of price stability. This committee consist of the Minister of Treasury and Finance, the…
The deadline for Payment Service Providers to comply with the new regulations has been extended On December 1, 2021, the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers, which regulates the procedures and principles regarding the authorization and operating licenses of payment and electronic money institutions, entered into force. With this regulation, the previous regulation dated June 27, 2014 was repealed and new obligations were envisaged…
TRANSFER OF ECONOMIC RIGHTS ON THE WORK Pursuant to the Intellectual and Artistic Works Law (“IAL”), work is any intellectual or artistic product bearing the characteristic of its author and deemed as a scientific and literary or musical work or work of fine arts or cinematographic work. Therefore, in order for an intellectual product to be protected as a work, it must be involved in one of the types of…
TAXATION OF NOTICE PAY PAID UNDER MUTUAL TERMINATION AGREEMENT In principle, notice pay is not tax-exempt and is subject to income tax. Accordingly, Article 7 of 7103 numbered Law[1] which entered into force on 27/03/2018 indicates that “after the termination of the employment contract; payments and benefits made under various names, such as compensations paid under the mutual termination agreement, compensation for loss of work, termination compensation, job security compensation”…
Management Control in Public Companies An amendment[1] has been made to the communique[2] on rules and regulations to be followed in merger and division proceedings in publicly-held companies, in which case at least one of the parties to the transaction is a publicly-held company according to the Capital Market Law. First of all, a new definition is added to article 4 of the communique. According to such definition, “management control”…
Exception of the Enrollment Obligation in the Data Controllers’ Registry for Associations, Foundations and Trade Unions Turkish Data Protection Board (“Board”), has made amendments to the exception of the enrollment obligation in the Data Controllers’ Registry for associations, foundations and trade unions with its decision[1]. Such amendments are as follows: It has been stipulated that in order to be included in the scope of the exception; the associations, foundations and…