Authors: Sevgi Ünsal Özden, Gülnur Çakmak, Defne Pırıldar, Melis Uslu

The decision of Banking Regulation and Supervision Board dated 27.04.2023 and numbered 10585 (Decision) is published in the Official Gazette dated 28.04.2023 and numbered 32174. The Decision extends the application deadline and the date of transfer to the Savings Deposit Insurance Fund (the Fund)...

Merger and acquisition processes are one of the legal processes that most seriously affect the identities and legal status of companies. After the completion of legal, tax, financial and operational due diligence reports, the parties initiate the negotiation process in case they reach an agreement on proceeding with the...

Fast-moving consumer goods is undoubtedly one of the sectors that the Competition Authority has been working most intensively since the COVID 19 pandemic. Among the most important developments of this period was the Sector Inquiry initiated on Fast Moving Consumer Goods (“FMCG”) Retailing...

ChatGPT, a large language model (LLM) developed by OpenAI, is an artificial intelligence (AI) system based on deep learning techniques and neural networks for natural language processing. ChatGPT can process and generate human-like text, chat, analyse and answer follow-up questions, and acknowledge errors...

The 5th Iuris Agora Law Forum organized by Bilkent Law Society took place on April 29-30, 2023 at Bilkent University Central Campus...

In the decision of the Constitutional Court ("Constitutional Court" or "Court") dated 09.11.2022, numbered 2020/67 E. 2022/139 K. (the "Decision"), the annulment of certain articles of the Law Amending the Law on the Protection of Competition No. 4054 ("Law No. 7246") was requested...

The Resolution of the President dated 01.04.2023 and numbered 7025 on the Approval of the Protocol on the Accession of the Republic of Finland to the North Atlantic Treaty was published in the Official Gazette dated 02.04.2023 and numbered 32151...

Through Article 20 of Law No. 7440 on Restructuring of Certain Receivables and Amending Certain Laws (“Law No. 7440”), published in the Official Gazette dated 12 March 2023 and No. 32130, significant and new tax regulations regarding debt push down financing structure for merger transactions are introduced...

Ordinary partnerships are regulated under Turkish Law between Articles 620 and 645 of the Turkish Code of Obligations No. 6098 (“TCO” or the “Code”). The Law defines an ordinary partnership contract as a contract where two or more persons undertake to combine their labour or property to achieve a common...

Council of State Plenary Session of the Tax Law Chamber (Council of State TLC) decided that real estate taxpayers can file a lawsuit against the decisions of the appraisal commissions for the determination of minimum plot and land unit values until the last day of the year during which such decisions are taken...

The Constitutional Court’s decision dated 22.02.2023 and numbered 2022/155 E. 2023/38 K. (Decision) is published in the Official Gazette dated 28.04.2023 and numbered 32174. With the decision, Article 187 of the Turkish Civil Code regarding the surname of women is cancelled...

The deadline for declaring the corporate tax return pertaining to FY 2022 is May 5, 2023. If there are any disputed taxes (e.g. additional -earthquake- tax) and a tax lawsuit is planned to be filed, we would like to remind that the tax return should be declared with a reservation...

Operating globally in all areas of the glass industry, including flat glass, glassware and glass packaging, Şişecam acquired the European Bank for Reconstruction and Development's (EBRD) 10% shares in Şişecam Çevre Sistemleri. As a result, Şişecam became the sole shareholder of Şişecam...

The Regulation Amending the Ports Regulation (Regulation) entered into force through publication in the Official Gazette dated 14.04.2023 and bis numbered 32163. Significant amendments made by the Regulation are summarized below...

Erdem & Erdem Managing Associate Ecem Süsoy Uygun gave a training on "Ethics in the Energy Sector and Personal Data Security" on March 4 and April 8 within the scope of the Energy Law Certificate Program organized by Bahçeşehir University Continuing Education Center and Istanbul Institute...

Legal 500, one of the leading international legal directories which provides rankings of law firms based on client feedback and market research, published their Europe, Middle East & Africa (EMEA) 2023 results. Erdem & Erdem has been ranked again as a Top Tier law firm for its Dispute Resolution practice...

The Regulation Amending the Regulation on Private Hospitals (Regulation on Private Hospitals) and the Regulation Amending the Regulation on Private Health Institutions for Outpatient Diagnosis and Treatment (Regulation on Private Health Institutions) namely (Amending Regulations) entered into force through...

The decision (Decision) of the Information and Communication Technologies Board (Board) dated 28.03.2023 and numbered 2023/DK-ID/119 entered into force through publication in the Official Gazette dated 01.04.2023 and numbered 32150. The Decision introduced amendments to the procedures and principles...

Through the Law No. 7440 on Restructuring of Certain Receivables and Amending Certain Laws (Law No. 7440) published in the Official Gazette dated 12.03.2023 and No. 32130, procedures and principles regarding restructuring of the certain public receivables are regulated...

The Decree No. 32 on the Protection of the Value of Turkish Currency (“Decree No. 32”) and the Communiqué No. 2008-32/34 on the Decree No. 32 on the Protection of the Value of Turkish Currency (“Communiqué”) prohibit the determination of the contract prices of certain contracts and other payment obligations...

A popular business model for expanding market reach and brand recognition worldwide is franchising. Despite being less common than distribution agreements in the form of mono-brand store agreements, franchising is another significant method for extending luxury brands' distribution networks. Luxury brands use...

In Turkish competition law, certain types of mergers and acquisitions are subject to Turkish Competition Board’s (“Board”) approval in order to gain legal validity. Pursuant to Article 7 of the Law No. 4054 on the Protection of Competition (“Law No. 4054”), the Board is competent to define mergers and acquisitions...

The Personal Data Protection Law numbered 6698 (“PDPL”) introduces definitions for many concepts such as personal data, data controller, data processor and data subject. In terms of understanding and interpreting these concepts, secondary legislation, Personal Data Protection Authority (“Authority”) guidelines...

The Resolution of the President dated 08.03.2023 and numbered 6913 on the Ratification of the Agreement between the Republic of Turkey and the European Union on the Participation of the Republic of Turkey in the Union Program on Cooperation in the Customs Area, ‘Customs’, effective from 1 January 2021...

The "Law No. 7445 on the Amendment of the Execution and Bankruptcy Law and Certain Laws", a kind of "omnibus law" known as the 7th Judicial Package, entered into force after being published in the Official Gazette dated 05.04.2023. As its name suggests, the Law provides for a number of amendments to the...

Organization for Economic Co-operation and Development (“OECD”) has published its paper[i] presenting an outline of the diverse frameworks implemented for open banking and other data sharing arrangements in different jurisdictions, discussing expansion of open banking related data arrangements, which is referred...

Chambers & Partners, one of the leading international legal directories which provides rankings of law firms based on client feedback and market research, published their Europe 2023 and Global Guide 2023 results...

The German Act on Corporate Due Diligence Obligations in Supply Chains (Law) entered into force on January 1, 2023. The Law imposes significant obligations on German companies in relation to environmental law and human rights, covering their supply chains...

Authors: Melissa Balıkçı Sezen, Tilbe Birengel, Mehveş Erdem Kamiloğlu

'The 11th Law Students Forum' organized by Bilkent University Career in Law Club took place online on March 26, 2023. Senior Associate Mehveş Erdem Kamiloğlu and Associate İdil Yıldırım Günaydın of Erdem & Erdem made a presentation on Erdem & Erdem Law Office...

Through the Law No. 7440 on Restructuring of Certain Receivables and Amending Certain Laws (Law No. 7440), published in the Official Gazette dated 12.03.2023 and No. 32130, procedures and principles regarding restructuring of the specified public receivables are regulated...

Our first issue includes articles written by our distinguished lawyers, all of whom are experts in their respective professions, legal developments in the national arena in January and February, annual bulletins and reports, podcasts and news from us...

Our second issue includes articles written by our distinguished lawyers, all of whom are experts in their respective professions, legal developments in the national arena in March, annual bulletins and reports, podcasts and news from us...

Through Law No. 7440 on Restructuring of Certain Receivables and Amendments to Certain Laws (Law No. 7440), published in the Official Gazette dated 12 March 2023 and No. 32130, amendments... 

Through the Article 20 of Law No. 7440 on Restructuring of Some Receivables and Amending Some Laws (Law No. 7440), published in the Official Gazette dated 12 March 2023 and No. 32130, significant tax regulations regarding Debt Push-Down financing structure for merger transactions are introduced...

Through Article 10/27 of the Law No. 7440 on Restructuring of Certain Receivables and Amendments to Certain Laws (Law No. 7440) published in the Official Gazette dated 12 March 2023 and numbered 32130, an additional corporate (earthquake) tax at the rate of 10% is imposed against some corporate taxpayers...

Authors: Ecem Süsoy Uygun, Merve Demirkaya, Nil Zeren Özdemir

The Resolution of the President (Resolution) numbered 6807 on the Procedures and Principles Regarding the Tenders to be Conducted by the Ministry of Treasury and Finance within the Scope of Subparagraph (b) of Article 3 of the Public Procurement Law No. 4734 entered into force following its publication...

The Law on the Amendment of the Law on Social Security and General Health Insurance and the Decree Law No. 375, publicly known as the Law of Victims of Delayed Pension Age (EYT Law) entered into force upon its publication in the Official Gazette dated March 3, 2023 and numbered 32121. With the EYT Law...

Recently, the Competition Board (the Board) had imposed administrative fines on banks and financial institutions for failing to respond to the request for information within the scope of a preliminary investigation.[i] The request for information that lays the groundwork for the administrative fine imposed by...

Mergers and Acquisitions (“M&A”) are restructuring of companies or assets through various types of financial transactions, such as mergers, acquisitions, purchase of assets, or management acquisitions. This Newsletter article covers M&A disputes being solved before arbitral tribunals.

In the decision dated 14.06.2022 and numbered 2019/149 E. 2022/894 K., the Court of Cassation General Assembly (“CCGA”) evaluated the theory of piercing the corporate veil in the context of the relationship between the guarantor and the borrowing company in a dispute arising from a loan agreement...

Turkish electricity market has been going through turbulent times particularly in 2022. Steep increases in commodity prices that are used in electricity generation have urged the policy makers to take measures for minimizing further price increases in the electricity market as well as for maintaining security of supply...

Article 285 et seq. of the Enforcement and Bankruptcy Law No. 2004 ("EBL") provides debtors who are unable or in danger of being unable to pay their debts when due, the opportunity to restructure their debts before bankruptcy and to eliminate the risk of bankruptcy. In 2018, with the comprehensive amendment to...

The European Union continues to be an important investment center for foreign investors. According to data from the European Commission's "Second Annual Report on the monitoring of foreign direct investment in the European Union", the European Union received €117 billion worth of foreign direct investment in...

The Resolution of the President dated 25.01.2023 and numbered 6728 on the Application of the Exemption in the Fourth Paragraph of the Provisional Article 14 of the Corporate Tax Law No. 5520 to the Foreign Currencies in the Balance Sheets of the Corporations as of 31.12.2022 was published in the Official...

Authors: Alper Uzun, Rüştü Mert Kaşka, Abdullah Bozdaş, Aslı Su Çoruk

The Presidential Decree on the Measures Taken in the Field of Labor and Social Security under the State of Emergency (Decree) entered into force through its publication in the Official Gazette dated 22.02.2023 and numbered 32112. The measures introduced by the Decree and to be implemented in the...

Erdem & Erdem Founder and Senior Partner, Prof. Dr. H. Ercüment Erdem attended the RAA Arbitration Seminar and Networking event organized by the Russian Arbitration Institute in Dubai on Friday, February 17, 2023, sponsored by Masin Middle East...

The 11th ICC MENA International Arbitration Conference, organized by the International Chamber of Commerce (ICC), took place on 15-16 February 2023 in Abu Dhabi, the capital of the United Arab Emirates. Themed "Rethinking Dispute Resolution in an Ever-Changing World", the conference featured...

The Regulation Amending the Regulation on the Technical Requirements for Alcohol and Alcoholic Beverage Facilities, Procedures and Principles Regarding their Establishment, Operation and Supervision and the Regulation Amending the Regulation on the Procedures and Principles Regarding the Domestic...

The Law Amending the Law on the Union of Chambers and Commodity Exchanges of Turkey and the Law on Chambers and Certain Laws and the Decree Law No. 640 (Omnibus Law) is published in the Official Gazette dated 01.02.2023 and numbered 32091. The Omnibus Law amended the Law No. 6585 on the...

Smartwatches have undeniably revolutionized our lives in the past decade. Apart from their core function as a timepiece, these wearable computers packaged in the form of a watch enable us to answer incoming calls, reply to messages and skim through social media notifications in seconds. Their steady rechargeable...

The Covid-19 pandemic and recent technological developments have significantly accelerated the digital transformation of all sectors. However, this rapid change especially in the financial sector (mobile banking, e-commerce, contactless payments, etc.) has brought some risks along with making life extremely...

The Communiqué on Redetermination of Minimum Equity Amounts for Payment and Electronic Money Institutions (Communiqué) is published in the Official Gazette dated 28.01.2023 and numbered 32087. The Communiqué will enter into force on 30.06.2023. As per the Communiqué, the minimum equity amounts...

Transfer of shares is arguably the first legal transaction that comes to mind among the legal transactions regarding the shares of a capital company, and the most common transaction in practice. However, the shares of a capital company may also be subject to various transactions, other than share purchase...

Amazon, a world-famous company, is an e-commerce company that operates the world’s largest online shopping platform. In the backstage, Amazon is a data-driven company whose retail decisions are mostly driven by automated systems, fueled by the relevant market data. That being said, Amazon has a dual...

We are proud to announce that Canan Doksat has been promoted as Partner, as of January 1, 2023...

The Resolution on the Approval of the Protocol between the Government of the Republic of Turkey and the Government of the Turkish Republic of Northern Cyprus on the Deployment of Energy Transmission Lines of Geçitkale Airport (Resolution No: 6647) entered into force through publication in the...

The issue of proving damages in cases related to the excess damages is frequently subject to the examination and evaluation of both the Supreme Court and different chambers of the Court of Cassation. With its decision dated 29.03.2022 and numbered 2021/928 E. 2022/401 K., the Court of Cassation General...

We are pleased to announce that Erdem & Erdem has been nominated in The Regional Firm of The Year - Europe category of Global Competition Review (GCR) Awards 2023.

Through the promulgation of the Communiqué on the Implementation of Surveillance in Imports (Communiqué No: 2023/2) (Communiqué) published in the Official Gazette dated 27 January 2023 and No. 32086, the procedures and principles regarding the surveillance implementation of photovoltaic cells...

We are proud to announce that Tolga Turan has joined Erdem & Erdem as Energy Advisor.

The Regulation on Administrative Sanctions of the Nuclear Regulatory Authority (Regulation) has entered into force through its publication in the Official Gazette dated 24 January 2023 and numbered 32083. Significant provisions introduced by the Regulation are summarized...

The German Act on Corporate Due Diligence Obligations in Supply Chains (Law), which was adopted by the German Federal Parliament (Bundestag) on June 11, 2021, entered into force on January 1, 2023. The Law will apply to German companies having at least 3,000 employees as of January 1, 2023...

Energy Law Research Institute organized the Energy Litigation Congress in Ankara on Wednesday, 11.01.2023. Erdem & Erdem, Partner, Competition & Compliance Leader and Energy Law Research Institute Board Member Mert Karamustafaoğlu took part in the panel discussion on...

Tax Procedure Law General Communiqué No. 546 (Communiqué) is published in the Official Gazette dated 18 January 2023 and No. 32077. Pursuant to the Communiqué, joint stock, limited liability company, unlimited liability company and limited partnership companies, cooperatives, Turkish branches of...

Erdem & Erdem Founder and Senior Partner, the Chair of ICC Commercial Law and Practice Commission, member of ICC International Court of Arbitration and member of the ICC Institute of World Business Law, Prof. Dr. H. Ercüment Erdem gave an online lecture on M&A Arbitration at the Winter Academy...

Law No. 7431 on Amendments to the Social Insurance and General Health Insurance Law, Certain Laws and Decree Law No. 375 (Law) was published in the Official Gazette dated January 13, 2023 and numbered 32072. With Article 7 of the Law, temporary Article 43 was added to the Decree Law No. 375 and...

The Regulation Amending the Regulation on Technical Evaluation of Solar Energy Based Electricity Generation Applications (Regulation) published in the Official Gazette dated 17 January 2023 and numbered 32076 entered into force...

Authors: Sevgi Ünsal Özden, Gülnur Çakmak, Melis Uslu

The Regulation Amending the Regulation on Private Healthcare Institutions Providing Outpatient Diagnosis and Treatment (Outpatient Diagnosis and Treatment Regulation) and the Regulation Amending the Regulation on Private Hospitals (Private Hospitals Regulation) entered into force through its publication in the...

Through the promulgation of the Presidential Decision No. 6657 (Decision) on Resource Utilization Support Fund Deduction published in the Official Gazette dated January 10, 2023 and No. 32069, the Resource Utilization Support Fund rate for loans obtained by financial leasing companies from abroad is...

Through the promulgation of relevant general communiqués published in the Official Gazette dated 30 December 2022 and No. 32059 (2^nd Repeated), certain tax limits to be applied during 2023 were determined. Accordingly, above-mentioned communiqués are...

The Communiqué on Environmental Impact Assessment Qualification Certificate (Communiqué) entered into force following its publication in the Official Gazette dated 31.12.2022 and numbered 32060. With the Communiqué, the Communiqué on Environmental Impact Assessment Qualification Certificate published in...

The Resolution of the President dated 23.11.2022 and numbered 6416 on the Approval of the Economic and Financial Cooperation Agreement - Additional Agreement - signed between the Government of the Republic of Turkey and the Government of the Turkish Republic of Northern Cyprus on...

On 11 June 2021, the German Federal Parliament approved the German Supply Chain Due Diligence Act (Lieferkettensorgfaltsgesetz) (“Act”) which affects not only German entities but also their suppliers in foreign countries (including Turkish entities). The main focus of the Act, which entered into force on...

The goal of this article is to explain and compare asset backed and asset based sukuk structures and their application in Turkish leasing certificate issuance. Sukuk, an Arabic word which is the plural of Sakk, is the common name of sharia compliant bonds also referred to as Islamic bonds. However, the Arabic word...

Law No. 6563 on the Regulation of Electronic Commerce (E-commerce Law or Law) has recently undergone a radical change in order to regulate the behavior of the players in the rapidly growing and developing e-commerce sector. The new regulations that came into force as of January 1, 2023 envisage important...

The first regulations on electricity storage activities were included in Electricity Market Law No. 6446 dated 14/3/2013 ("EML" or "Law"). Subsequently, the Regulation on Storage Activities in the Electricity Market ("Storage Activities Regulation"), which implements the law, entered into force through its publication...

Provisional Article 32 was added to Banking Law numbered 5411 (“BL”) through Article 17 of the Law No. 7186 on Amendments to the Income Tax Law and Certain Laws ("Law No. 7186") in the Official Gazette on 19.07.2019. This law enables companies that are experiencing financial difficulties, but which are...

Erdem & Erdem Partner and Competition & Compliance Leader Mert Karamustafaoğlu was the guest of the was a guest of the “Piyasa Hattı” program presented by Güzem Yıldız and broadcast on BloombergHT on Wednesday, December 21 at 14.00...

Koc University Career Development Center and Koc University Law Club organized the "Careers in Law" event on 20 December - 6 January 2022. As part of the event, Erdem & Erdem Managing Associate and Tax Leader Canan Doksat, and Associate Helin Akbulut met with law students on...

The Regulation on Electronic Intermediary Service Provider and Electronic Service Providers (Regulation) was published in the Official Gazette dated 29.12.2022 and numbered 32058.  With the Regulation, the procedures and principles regarding the implementation of the Law numbered 7416 Regarding...

The Law Amending the Electricity Market Law, Certain Laws and Decree Law No. 375 (Omnibus Law) entered into force following its publication in the Official Gazette dated 28.12.2022 and numbered 32057. The Omnibus Law introduced significant amendments to the Law on Privatization Practices numbered...

The Regulation on the Procedures and Principles Regarding the Exemption of Sports Clubs and Sports Joint Stock Companies from Debt Restrictions (Regulation) entered into force following its publication in...

The Presidential Decision numbered 6584 (Decision) on the entertainment tax rates regulated under Article 21 of the Law numbered 2464 on Municipal Revenues (Law) was published in the Official Gazette dated 21 December 2022 and numbered 32050...

As per the General Communiqué on Tax Procedure Law numbered 542 published in the Official Gazette dated 24 November 2022 and numbered 32023, the revaluation rate for 2022 was determined as 122.93%...

Authors: Canan Doksat, Beyza Günsel Sürücü

The Sports Law Summit organized by Yaşar University Law Society was held on Wednesday, December 14th between 12:30 - 18:00 at Yaşar University Main Conference Hall. Can Yıldız, one of our associates, took part as a speaker in the event where many topics such as arbitration in sports, overview...

Through the promulgation of the General Application Communiqué on Accommodation Tax (Communiqué), published in the Official Gazette dated 14 December 2022 and No. 32043, the procedures and principles for the implementation of the accommodation tax are regulated...

The ICC Turkish National Committee, in association with the ICC Entrepreneurship Center Istanbul Regional Office and the National Committee's Commercial Law and Practice Commission, hosted an online panel titled "International Sanctions, Risks, and Measures for Companies." on Tuesday, December 13...

Mining Regulation (Regulation) entered into force following its publication in the Official Gazette dated December 11, 2022 and numbered 32040. Through this regulation, the mining regulation published in the Official Gazette dated September 21, 2017 and numbered 30187 (Previous Regulation) has been abrogated... 

The Law Amending the Law on the Regulation of Tobacco, Tobacco Products and Alcohol Market and Certain Laws (Law) entered into force following its publication in the Official Gazette dated 10.12.2022 and numbered 32039. Significant amendments introduced by the Law are...

The Regulation on Organ Transplantation Services (Regulation) entered into force following its publication in the Official Gazette dated 09.12.2022 and numbered 32038. Significant amendments introduced by the Regulation are...

The 2022 ICC Institute Jurisprudential Debate on "Asymmetric Jurisdictional Clauses" were held on Thursday, December 8, 2022 at the ICC Headquarters in Paris...

Tilbe Birengel, one of Erdem & Erdem's senior associates, took part as a speaker in the panel titled "Reaching an Agreement with Entrepreneurs" as part of the "Angel's Day 2" event organized by helo! on Friday, November 30^th.

The Regulation Amending The Regulation on the Principals and Rules to be Implemented in Retail Trade (Regulation) entered into force following its publication in the Official Gazette dated 07.12.2022 and numbered 32036...

Didem Adlığ, one of our managing associates, and Defne Pırıldar, one of our associates, met with Istanbul Bilgi University students as part of the "Istanbul Bilgi University Faculty of Law 21st Career Days in Law" organized by the Bilgi Law Faculty Club. The event was held on Friday, December 2nd at santralistanbul...

Through the administrative letter dated 30.11.2022 and No. E-85593407-156.06 published by the Customs General Directorate of the Trade Ministry regarding the import transactions in which an invoice is issued in foreign currency but the payment is made, the issues that cause hesitation in practice in terms of...

Through the promulgation of President Decision No. 6434 (“Decision”) published in the Official Gazette dated 30th November 2022 and No. 32029, the procedures and principles regarding the companies subject to independent audit within the scope of Article 398 of the Turkish Commercial Code...

On 21 December 2007, the Federal Council approved the draft revision of the Swiss Code of Obligations, which also includes amendments to company law. On 28 November 2014, the Federal Council referred the draft revision for consultation. Following extensive discussions and a long enactment process, the...

Law No. 7420 on the Amendment of Income Tax Law and Certain Laws and Decrees (“Law No. 7420“) which was published in the Official Gazette dated 09.11.2022 introduced important amendments and regulations in the tax legislation. The addition of Article 32/B, entitled "Taxation in Capital Decrease" to...

The Resolution of the President dated 19.10.2022 and numbered 6238 on the Approval of the Memorandum of Understanding Between the Government of the Republic of Turkiye and the Government of the Federal Republic of Nigeria on Cooperation in the Field of Energy was published in the Official Gazette...

Today, in many employment contracts, the use of tools such as computers, corporate e-mail accounts, and telephones allocated by the employer is limited and the employer’s right to control them is regulated. The employer bases such a supervise and audit right on the management right regulated under Article 399...

The Personal Data Protection Authority (“DPA”), on 16.06.2022, published the Draft Guidelines on Examination of Loyalty Programs within the Scope of Personal Data Protection Legislation (“Draft Guidelines”). The public has until 16.07.2022 to submit comments on them, and after these are evaluated...

The Constitutional Court's decision dated 14.09.2022 and published in the Official Gazette dated 25.10.2022 and numbered 31994 ("the Constitutional Court Decision") examines whether the start of the application period related to the applicant’s request for appeal being from the date of the pronouncement of...

In the context of arbitration practice, the principle of revision au fond means that the courts can not examine the merits of a dispute when reviewing an arbitral award. This principle is most commonly encountered in set aside and enforcement proceedings. An arbitral award is evidence of the parties’ willingness...

The Law on Amendments to the Tax Procedure Law and Certain Laws (Omnibus Law) entered into force through its publication in the Official Gazette dated 26.11.2022 and numbered 32025. The Omnibus Law amended the Law No. 4059 on Financial Stability and Certain Regulations (Financial Stability Law)...

The Regulation (Amending Regulation) Amending the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (Regulation) and the Communiqué on Information Systems of Payment and Electronic Money Institutions and Data Sharing Services of Payment Service...

On 28.10.2022, Banking Regulation and Supervision Agency published the Draft Regulation Amending the Regulation on Debit Cards and Credit Cards (Draft Regulation) on its website to receive market players’ comments...

Through the promulgation of Tax Procedural Code General Communiqué No.542 (Communiqué) published in the Official Gazette dated November 24, 2022 and No. 32023, the revaluation rate was determined as 122.93% for the year 2022...

Through the promulgation of President Decision No. 6417 (Decision) published in the Official Gazette dated November 24, 2022 and No. 32023, Special Consumption Tax (SCT) bases imposed on some private cars in the list (II) of the Special Consumption Tax Law No. 4760 have been changed...

Several changes have been made on Electricity Generation Regulation in the Electricity Market, the Regulation on Connection and System Usage in the Electricity Market, Electricity Market Balancing and Settlement Regulation, Regulation on Storage Activities in the Electricity Market, Electricity Grid...

The Constitutional Court (Court) Decision dated 21.09.2022 and with the application number 2019/25604 (Decision) has been published in the Official Gazette dated 15.11.2022 and numbered 32014. The Court ruled that the right to respect to privacy and freedom of communication were violated in...

“The New Order in Platform Services: Significant Market Power, Data and Much More” Webinar organized by Erdem & Erdem Law Office was held on Wednesday, November 19. Erdem & Erdem Partner and Competition and Compliance Leader Mert Karamustafaoğlu, moderated... 

Through the Communiqué on the Amendment Regarding the Communiqué on the Procedures and Principles Regarding the Application of Article 376 of the Turkish Commercial Code No. 6102 (“Communiqué”) published in the Official Gazette dated November 8^th, 2022 and No. 32007, essential amendments are...

Authors: Mert Karamustafaoğlu, Sevgi Ünsal Özden, Defne Pırıldar, Merve Demirkaya

“What awaits the Payment Industry?” webinar organized by Erdem & Erdem Law Office was held on Wednesday, October 26. Erdem & Erdem Partner and Competition and Compliance Leader Mert Karamustafaoğlu, moderated the webinar in which Ulaş Erdur, Deputy General Manager of Garanti BBVA...

The Resolution of the President dated 26.09.2022 and numbered 6090 on the Approval of the Annexed Amendment Protocol signed by the Exchange of Letters dated 12.08.2022 and 31.08.2022 between the Government of the Republic of Turkey and the European Commission on the Amendment to...

The German Competition Authority (“Bundeskartellamt”) had previously found Meta (formerly Facebook) responsible for abusing its dominant position in the social network market by collecting and processing the personal data of its users without their consent and imposed measures on Meta and its associated...

The right to initiate a re-employment lawsuit, is one of the job security provisions, stipulated in favor of the employees, of Labor Law No. 4857 ("Labor Law"). This right, aims to prevent arbitrary termination of the employment contract or termination of the contract without a valid reason by an employer...

The Court of Cassation General Assembly of Civil Chambers and the Chambers of the Court of Cassation both issued opinions on whether a lawsuit filed for not due receivables should be dismissed with or without prejudice by the court on the grounds that the time of performance has not yet come, and whether the...

Under Turkish law, the term “limits of certainty” refers to monetary limits to the rights of appeal and cassation. While it is possible to appeal to a higher court against the decisions of the courts of the first instance and the courts of appeal where the amount of the claim or the value of the case is above these...

The Turkish Commercial Code No. 6102 ("TCC") regulates maritime trade contracts under the fourth part of the fifth book of the Code. Among the types of contracts regulated in this section, the most frequently used contract in international maritime transport practice is the freight contract regulated under...

In September, the Central Bank of the Republic of Turkey (“CBRT”) published the Guide on Associating Business Models in the Field of Payments with Payment Service Types (“Guide”). The Guide includes explanations regarding payment services and electronic money issuance. An operating license is required...

The right to make on-site inspections is one of the Competition Board’s (“Board”) most important tools for revealing whether Law No. 4054 on the Protection of Competition (“Law No. 4054”) has been violated. The effective use of this authority is quite important in terms of obtaining fruitful results from...

The German-Turkish Chamber of Commerce and Industry organized a webinar titled "Wealth Amnesty: Significant Tax Savings Opportunity" on Thursday, October 20, 2022. Canan Doksat, Managing Associate and Tax Leader at Erdem & Erdem, and Betül Gencer, Associate at LW.P Lüders Warneboldt...

The Regulation on the Collection, Storage and Sharing of Insurance Data (Regulation) entered into force through publication in the Official Gazette dated 18.10.2022 and numbered 31987. Some of the important provisions introduced by the Regulation are summarized...

Dealing With Force Majeure Events in International Trade Conference took place at the International Institute for the Unification of Private Law (Unidroit), Rome on October 14, 2022. In the last years, Force Majeure and Hardship have become “hot issues” for business, and many companies found...

The Law on the Amendment to the Press Law and Certain Laws (Law) is published in the Official Gazette dated 18.10.2022 and numbered 31987. The Law amended a number of laws, most notably Press Law numbered 5187 (Press Law), Law on the Regulation of Internet Publications and Combating...

Istanbul Arbitration Week 2022 (ISTAW 2022) was organized by Energy Dispute Arbitration Centre EDAC at Sait Halim Paşa Mansion between October 10-14, 2022. The event was attended by 28 supporting organizations, including the most successful arbitration centers, organizations such as...

Through the Expenditure Taxes General Communiqué Serial No. 92, ("Communiqué") published in the Official Gazette dated 11th October 2022 and no. 31980, banking and insurance transactions tax ("BITT") regulations are introduced regarding the taxation of the money received by insurance companies...

Asian International Arbitration Center (AIAC) is hosting "Asia Alternative Dispute Resolution Week 2022" in Malaysia from October 3 to October 8, 2022. This year’s event is conducted in a hybrid setting for 6-days: Live at Bangunan Sulaiman and virtually through the Brella platform...

The Regulation on Private Healthcare Institutions Providing Oral and Dental Health Services, the Regulation Amending the Regulation on Private Healthcare Institutions Providing Outpatient Diagnosis and Treatment and the Regulation Amending the Regulation on Private Hospitals entered into force through...

Erdem & Erdem Founder and Senior Partner, the Chair of ICC Commercial Law and Practice Commission, member of ICC International Court of Arbitration and member of the ICC Institute of World Business Law, Prof. Dr. H. Ercüment Erdem chaired the ICC Institute Advanced Level Training on Drafting...

The Regulation on Amending the Regulation on Unlicensed Electricity Production in the Electricity Market entered into force following its publication in the Official Gazette with the number 31970 on October 1, 2022...

The Resolution of the President dated 15.09.2022 and numbered 6080 on the Approval of the Memorandum of Understanding About Implementation of the Multilateral Tax Program Between the Government of the Republic of Turkey and the Organization for Economic Cooperation and Development at...

Although the general principle in the law of contracts is freedom of contract or, in other words, freedom of will, the parties’ wills are not completely free in the case of exemption agreements. The validity of these agreements is limited by the mandatory provisions of the Turkish Code of Obligations...

The Banking Regulation and Supervision Agency (“BRSA”) published the Circular on the Disclosure of Confidential Information Regulation No.2022/1 (“Circular”) on 11.08.2022. The purpose of this Circular is to elaborate on concepts and procedures as outlined in the Regulation on Disclosure of...

“Harese” is an interesting Arabic word. There is a thorn that camels love very much in the desert. The camel eats the thorn with great greed. So much so that, its mouth bleeds as it eats, but it doesn't stop eating. The taste of the thorn is mixed with the salty taste of its own blood. This mixed taste drives the camel...

Banks process large volumes of personal data in their daily operations. In order to deal with this sensitive information, the Turkish Personal Data Protection Authority, in cooperation with the Banks Association of Turkey, published Good Practice Guidelines on Personal Data Protection in the Banking...

Turkey’s leading pay television service provider, Krea İçerik Hizmetleri ve Prodüksiyon A.Ş. (“Digiturk”), is frequently the subject of complaints made to the Competition Authority (“Authority”). In fact, the Competition Board (“Board”) issues a new decision about Digiturk almost every year. In these decisions...

Incoterms are a set of rules introduced by the International Chamber of Commerce (ICC) to explain the commercial terms that are widely used in international trade. The purpose of Incoterms rules is to facilitate and expedite international trade in a safe and secure manner...

The Regulation on the Procedures and Principles Regarding the Merger of Sports Clubs and Transfer of Assets entered into force through publication in the Official Gazette dated 14.09.2022 and numbered 31953...

The Presidential Circular numbered 2022/15 on Investment Program Preparations for the 2023-2025 Period is published in the Official Gazette dated 14.09.2022 and numbered 31953 (bis)...

The Regulation on the Procedures and Principles Regarding the Electronic Seal (Regulation) entered into force through its publication in the Official Gazette dated 14.09.2022 and numbered 31953. Main novelties brought by the Regulation are...

The Regulation on Books and Records to be kept by the Sports Clubs (Regulation) entered into force through its publication in the Official Gazette dated 07.09.2022 and numbered 31946...

Free Zones are zones that are established to promote export-oriented investment and production, accelerate foreign direct investment and technology access, direct enterprises towards export, and develop international trade. There are many tax advantages provided to taxpayers operating in...

The procedural rules on mass claims within European Union (“EU”) Member States is not uniform. To improve the position of consumers who might wish to make such claims, the European Parliament passed the Collective Redress Directive (“Directive”). The impact of the Directive is expected to...

The Resolution of the President dated 20.07.2022 and numbered 5801 on the Determination of the Default Interest Rate under the First Paragraph of Article 51 of the Law numbered 6183 on the Collection Procedure of Public Receivables as 2.5% to be Applied Separately for Each Month, was published...

Since social media has turned into a modern mass communication tool, the concepts of advertising and marketing have been brought to a new dimension. Influencers, who promote various products and services by "influencing" their audience through social media, are driving the next generation of...

Law No. 7405 on Sports Clubs and Sports Federations ("Law on Sports"), which entered into force after being published in the Official Gazette dated 26 April 2022 and numbered 31821, introduced many new provisions on clubs and federations. One of the most significant and noteworthy of these provisions...

The Regulation Concerning Unlicensed Electricity Generation in the Electricity Market (“Regulation”) has been amended by the amending regulation which was published in the Official Gazette numbered 31920 and dated 11.08.2022 (“Amending Regulation”). The Amending Regulation has introduced...

The Regulation on Transport Deal Organizer (Regulation) entered into force through its publication in the Official Gazette dated 27.08.2022 and numbered 31936. The Regulation repealed the Freight Forwarders Regulation published in the Official Gazette...

The Regulation (Amending Regulation) Amending the Regulation on Workplace Opening and Operation Licenses (Regulation) has entered into force through publication in the Official Gazette dated 25.08.2022 and numbered 31934...

Regulation on the Amendment to the Regulation on Distance Agreements (Amending Regulation) was published in the Official Gazette dated 23.08.2022 and numbered 31932...

The Communiqué Amending the Communiqué on Maintenance of Turkish Lira-Denominated Securities for Foreign Currency Liabilities and the Communiqué Amending the Communiqué on Required Reserves (together referred to as “Amendment Communiqués”) were published...

The Resolution of the President numbered 5973 and dated 17.08.2022 on Export Aids (Resolution) entered into force through its publication in the Official Gazette...

The Regulation (Amending Regulation) Amending the Regulation on Shopping Malls (Regulation) has entered into force through publication in the Official Gazette dated 18.08.2022 and numbered 31927...

The Regulation (Amending Regulation) Amending the Regulation on Control of Medical Waste (Regulation) has entered into force through publication in the Official Gazette...

The Constitutional Court Decision dated 01.06.2022 and numbered 2021/85 E. 2022/60 K. (Decision) has been published in the Official Gazette dated 18.08.2022 and numbered 31927. With the Decision, the Presidential Decree dated 29.06.2021 and numbered 74 Regarding Price Stability Committee...

The Constitutional Court Decision dated 01.06.2022 and numbered 2020/94 E. 2022/61 K. (Decision) has been published in the Official Gazette dated 18.08.2022 and numbered 31927. With the Decision, the Presidential Decree dated 13.10.2020 and numbered 68 Regarding Executive Committee...

On 11.08.2022 The Circular No. 2022/1 Explaining the Application of The Regulation for Disclosure of Confidential Information (The Circular) has been published by the Banking Regulation and Supervision Agency (BRSA). The Circular was published in order to shed light on the...

The Regulation (“Amending Regulation”) Amending the Regulation on Unlicensed Electricity Generation in Electricity Market ("Regulation") and Energy Market Regulatory Board’s decision dated 04.08.2022 numbered 11098 (“Decision”) have been published in the Official Gazette dated 11.08.2022 and...

Acıbadem Healthcare Group, one of the academic health institutions that is referenced in the world which created a model for Turkey serving in 5 countries, namely Turkey, Macedonia, Bulgaria, Serbia and the Netherlands, acquired Private Orthopedia Hospital...

On 05.08.2022, the Personal Data Protection Authority (“Authority”), published Guideline on Banking Sector Good Practices Regarding the Personal Data Protection (“Guideline”). The purpose of the Guideline is guiding data controller banks regarding the personal data processing activities carried out...

Through the promulgation of General Communiqué Serial No. 1 on Bringing Some Assets to the Economy (“Wealth Amnesty Communiqué”) which is published in the Official Gazette dated 9th August 2022 and no. 31918, the principles regarding the implementation of Wealth Amnesty which is...

The Constitutional Court Decision dated 20.07.2022 and numbered 2022/22 E. 2022/92 K. has been published in the Official Gazette dated 02.08.2022 and numbered 31911...

The Regulation on Environmental Impact Assessment entered into force through publication in the Official Gazette dated 29.07.2022 and numbered 31907...

The rules of e-commerce, which grow and develop with the digitalizing world, are changing. E-commerce has become the driving force of the digital economy. However, considering the growth rate of e-commerce and the transformation it has undergone in a short time, it is obvious that some...

In February 2020, the European Commission (“Commission”) published “A European Strategy for Data” as part of a wider drive concerning digital transformation and policy. Through this communication, the European Union (“EU”), defining itself as having a leading role in the data economy...

In general terms, the amendment of pleading is accepted as an exception to the prohibition of expanding and amending claims and defenses. With the amendment of pleading, the parties can partially or completely correct or amend the procedural actions that they could not perform due to the prohibition...

As a rule, rights and obligations arising from an agreement have legal consequences only between the creditor and the debtor which are parties to the agreement. This principle is referred to as "privity of contract." In general, contracts for the benefit of third parties, where the fulfillment of an...

While the scope of Competition Board’s (“Board”) power to conduct on-site inspections has increased with the introduction of Guidelines on Examination of Digital Data during On-site Inspections (“Guidelines”), nowadays the amount of monetary fines imposed on undertakings continue to...

Decision dated 27.06.2022 and numbered 5751 on the Ratification of the Fund Grant Agreement signed between Republic of Turkey Ministry of Labor and Social Security and International Bank for Reconstruction and Development, on 05.05.2022...

The French Competition Authority (Autorité de la Concurrence), within the scope of the competition law proceeding initiated upon the complaint of Criteo SA (“Criteo”), accepted the commitments proposed by Meta Platforms Inc., Meta Platforms Ireland Ltd., and Facebook France...

Through the promulgation of Presidential Decision No. 5806 (“Decision”), published in the Official Gazette dated 21st July 2022 and No. 31899...

Third session of the Arbitration from Scratch series, organized by Istanbul Very Young Arbitration Practitioners (IST-VYAP), was held on Friday, July 22 at Loft Plaza. with the participation of Mehveş Erdem...

Authors: Mert Karamustafaoğlu, Sevgi Ünsal Özden

On 14.07.2022, the European Parliament Research Service published a briefing (“Briefing”) for the impact assessment (“IA”) of the regulation of the European Parliament and the European Council on harmonised rules on fair access to and use of data (“Data Act”), submitted on 23.02.2022...

The Advanced Issues in Private and Commercial Law Summer School, organised by the Kadir Has University Faculty of Law and aimed at presenting the perspectives of well-known experts and practitioners on private and commercial law...

The Law numbered 7416 Regarding the Amendment to the Law on Regulation of Electronic Commerce (“Law No. 7416”) was published in the Official Gazette dated 07.07.2022 and numbered 31889...

Through Law No. 7417 on the Amendment to the Civil Servants Law, Certain Laws and Decree No. 375 ("Law No. 7417") published in the Official Gazette dated 5th July 2022 and No. 31887, a significant amendment is introduced for the application of interest rate deduction resulting from cash capital increase...

Through the Law No. 7417 on the Amendment to the Civil Servants Law, Certain Laws and Decree No. 375 ("Law No. 7417") which is published in the Official Gazette dated 5th July 2022 and No. 31887, significant amendments within Law No. 6183 on the Procedure for the Collection of Public Receivables...

Through the promulgation of the Law No. 7417 on the Amendment to the Civil Servants Law, Certain Laws and Decree No. 375 ("Law No. 7417") which is published in the Official Gazette dated 5^th July 2022 and no. 31887, new Wealth Amnesty has been introduced.

Under Turkish law, parties may agree on the settlement of disputes that have arisen or may arise, regarding the rights that they can freely dispose of, by arbitration. However, disputes which are not subject to the will of parties, such as the disputes relating to in rem rights of immovables, bankruptcy law...

Companies in which shares or authority to manage is held by members of a family are considered to be “family businesses”. Family members can hold shares that control the company, as well as retain management authority. Having a family business means opportunity, security and income for...

The Court of Cassation has evaluated the criteria related to the similarity of the trademark in all of these decisions, and while showing how the criteria will be applied, it has also helped to determine the boundaries of the term “likelihood of confusion”. In this article, four different 2022 decisions...

The dissolution of a company is a specific type of dissolution, which results in the cancellation of the legal personality which was gained by registration at incorporation. The specific proceeding which leads to the dissolution, and thus, the termination of a company upon the constitutive decision...

The Resolution of the President dated 23.05.2022 and numbered 5596 on the Ratification of the Economic and Financial Cooperation Agreement between the Government of the Republic of Turkey and the Government of the Turkish Republic of Northern Cyprus was published in the Official Gazette dated...

The relationship between the author and the product of their creative activity is protected by moral rights. The moral rights of the author set out in the Intellectual and Artistic Works Act numbered 5846 (“IAWA”) include the authority to disclose the work to the public, the authority to designate the name...

The Regulation on Green Certificate for Buildings and Developments ("Regulation"), which was prepared for the purpose of reducing the negative impacts of buildings and developments on the environment by using natural resources and energy efficiently, entered into force through publication in...

The General Court of the European Union ("General Court") annulled the decision of the European Commission ("Commission"), which found that Qualcomm, the world's largest LTE baseband chipset (“chipset”) supplier, had abused its dominant position in the said market and imposed a fine of €997 million...

Global Arbitration Review (GAR) hosted its eighth annual GAR Live: Istanbul Conference on June 23, 2022, at Ciragan Palace Kempinski...

Through the promulgation of the President Decision No. 5752 published in the Official Gazette dated 28^th June 2022 and no. 31880 (“Decision”), the period of the application of the low withholding rates on the interest obtained from Turkish Lira...

Through the promulgation of the Regulation on Amendment to Regulation on the Procedures and Principles to be Applied in Tax Inspections published in the Official Gazette dated 28^th June 2022 and no. 31880, significant amendments were made to the rules applied in tax inspections...

Following the press release of the Ministry of Treasury and Finance, on 09.06.2022 the Capital Markets Board announced its Measures to Strengthen Financial Stability to establish the "Commodity Market" and initiate its internal processes regarding issuance of gold certificates...

The Regulation on Processing of Land Registry and Cadastre Data and Transactions Held in Electronic Environment regulating the procedure and principles regarding the process of the data in the Central Database of the General Directorate of Land Registry and the transactions held in electronic...

Following the publication of the Official Gazette dated 11.06.2022 and numbered 31863, The Law Amending the Attorneyship Law and Turkish Code of Obligations (“The Law”) has been entered into force...

Turkish Competition Board (“The Board”), with its decision numbered 22-24/385-M has decided to initiate an investigation against DSM Grup Danışmanlık İletişim ve Satış Ticaret A.Ş. (“Trendyol”)...

You can watch the recording of "Current Problems in Arbitration - IV" webinar here... (in Turkish)

The sixth of the "Current Problems in Arbitration" webinar series was held online on June 3, 2022, in cooperation with the Turkish Arbitration Academy and Istanbul Chamber of Commerce Arbitration and Mediation Center (ITOTAM). The event was consisted two sessions and lasted around 3 hours...

Law No. 7407 on Amendments to the Banking Law, Certain Laws and Decree Law No. 655 ("Law") published in the Official Gazette dated 28.05.2022 and numbered 31849 introduced various amendments to the banking legislation. The amendments are briefly summarized...

Through the promulgation of Law No. 7407 Amending the Banking Law, Some Laws and the Decree Law No. 655 (“Law No. 7407”), published in the Official Gazette dated 28^th May 2022 and No. 31849, corporate tax exemption envisaged for incomes gained through currency protected TRY deposit accounts...

Terralex, one of the world's leading legal networks, hosted a webinar titled "An Overview and Comparison of the Leading Arbitral Bodies Around the World" on May 17, 2022...

The Regulation Amending the Regulation on the Allocation of Public Immovables for Tourism Investments (the “Amendment”) has entered into force through publication in the Official Gazette dated 14 May 2022 and numbered 31835...

European Commission adopted the new Vertical Block Exemption Regulation (“VBER”) accompanied by the New Vertical Guidelines on May 10, 2022. The new rules are simpler and clearer, which enables companies to assess the compatibility of...

Erdem & Erdem Partner, Competition and Compliance Leader Mert Karamustafaoğlu and Managing Associate Ecem Süsoy Uygun; were guest at the webinar titled “What are the outcomes of the Competition Authority’s E-Marketplace Platforms Industry Review Report?”, organized by...

The Partnership Law Certificate Program organized by Koç University Faculty of Law was held online 27th of April, 2022 between 13.00-17:00...

With Law No. 7343 on the Amendment of the Execution and Bankruptcy Law and Certain Laws, which entered into force through its publication in the Official Gazette dated 30.11.2021 and numbered 31675 and which was publicly referred to as the “5^th Judicial Package”...

The dominant position of the employer due to the nature of the employment relationship, the dependency of the employee, and the obligation to work constitute the basis of the employer's right to manage. The right to manage refers to the right to regulate the conduct of the work and the behavior...

Dubai International Arbitration Center amended its Arbitration Rules on 25 February 2022. The 2022 Arbitration Rules were published on 2 March 2022 and came into effect on 21 March 2022. The Rules will be applied to arbitrations that are filed after 21 March 2022; unless parties agree otherwise...

In the aftermath of the Achmea decision, controversies on intra-EU arbitrations continue. Most recently, the Paris Court of Appeal has annulled two arbitral awards rendered against Poland. Meanwhile, the Higher Regional Court of Berlin has refused to declare that an Irish investor’s ICSID claim...

Through the promulgation of Law No. 7394 on the Amendments of Treasury-Owned Immovable Property Valuation and the Value Added Tax Law and on the Amendments of Certain Other Laws and Decrees, published in the Official Gazette dated 15 April 2022 and No. 31810, significant amendments...

The Constitutional Court, in its decision dated 14.09.2021 on application no. 2018/25663 (“Decision"), found that applicant Cahide Demir’s right to property was violated on the ground that the mortgage on her real estate, established to secure a third party’s debt, had not been released by the...

On 4 September 2020, a research project “Does a Right to a Physical Hearing Exist in International Arbitration?” was launched by an International Council for Commercial Arbitration (“ICCA”) taskforce. Due to the Covid-19 pandemic, many arbitration hearings were held online. Many institutional rules...

The Resolution of the President dated 23.04.2022 and numbered 5520 on the Approval of the Agreement between the Government of the Republic of Turkey and the Government of the Republic of Cote D’Ivoire Concerning the Reciprocal Promotion and Protection of Investments...

The training program organized by ICC Turkey National Committee, titled “INCOTERMS® 2020 and the Relationship of Payment Methods with Delivery Methods” was held online between 10.00 – 15.30, on April 27th, 2022. INCOTERMS® 2020 sets the universally...

The ELSA Ankara Summit, which is held every year by ELSA Ankara, took place on Sunday, April 24, 2022, at the Excellence Inn Hotel Ankara in four sessions...

The "Competition Law Contest", organized with the cooperation of ELSA Adana and ELSA Istanbul, was held in Istanbul on 23-24 April 2022...

Authors: Mert Karamustafaoğlu, Sevgi Ünsal Özden

Following the publication of The Communiqué No. 2022-32/66 Amending the Communiqué No. 2008-32/34 (“Communiqué No. 2008-32/34”) regarding the Decree No:32 on Protection of the Value of Turkish Currency (“Communiqué No. 2022-32/66”) in the Official Gazette...

Through the promulgation of Law No. 7394 on the Amendments of Treasury-Owned Immovable Property Valuation and the Value Added Tax Law and on the Amendments of Certain Other Laws and Decrees (“Law No. 7394”), published in the Official Gazette...

The Communiqué No. 2022-32/66 Amending the Communiqué No. 2008-32/34 (“Communiqué”) regarding the Decree No:32 on Protection of the Value of Turkish Currency was published in the Official Gazette dated 19 April 2022 and No. 31814...

Mert Karamustafaoğlu, Partner, Competition and Compliance Leader of Erdem & Erdem was the guest speaker of the ‘Vizör’ program on CNN Türk on March 31, 2022, on the problems in food supply that deepened after the global epidemic and the Ukraine-Russia war...

Legal 500, one of the leading international legal directories which provides rankings of law firms based on client feedback and market research, published their Europe, Middle East & Africa (EMEA) 2022 results. Erdem & Erdem has been...

The 2nd Bucerius Law School Conference on Investment Law and Arbitration, with Dr. Yas Banifatemi and Professor Dr. Kaj Hobér as Honorary Patrons, was held on April 2 and 3, 2022, at Bucerius Law School, Hamburg, Germany. The conference was a part of...

Authors: Alper Uzun, Mehveş Erdem, Duygu Öner Ayçiçek

With the Charging Service Regulation (“Regulation”) which has been published in the Official Gazette dated 2nd April 2022 and No. 31797, the procedures and principles regarding the establishment of charging units and stations where electrical...

The settlement mechanism has only recently been introduced to Turkish competition law practice. It entered into force with the amendment made to the Law on the Protection of Competition (“Law”) numbered 4054 on 16.06.2020, and has been in effect for less than two years. In this relatively...

Pursuant to the Law on the Amendment of the Consumer Protection Law and the Property Ownership Law published in the Official Gazette dated April 1, 2022 and numbered 31796, various amendments were made to Consumer Protection Law No. 6502...

Due to their increasing share in the economy and rapid growth rate, e-marketplace platforms have come under the increasing scrutiny of the Turkish Competition Authority (“Authority”) as well as many competition authorities around the world...

The Sports Clubs and Sports Federations Law (“Sports Law”), published in the Official Gazette dated 26.04.2022 and numbered 31821, introduced detailed regulations on sports clubs, sports joint stock companies, and sports federations. The Sports Law, which entered into force on the date of...

In response to the rapid increase of use of electric vehicles, legislative and regulatory initiatives have been taken to create a legal framework for electric vehicle charging services. On 21.12.2021, Electricity Market Act numbered 6446 (“EMA”) was amended to introduce charging services...

The hub and spoke cartel, which is a relatively new type of violation in terms of Turkish competition law, is defined as the indirect exchange of information between two independent undertakings which are horizontal competitors on the supplier or retailer level, through another undertaking...

In the third week session of the program, held on March 24, 2022, Erdem & Erdem Law Firm Partner and Competition & Compliance Leader Mert Karamustafaoğlu and Senior Associate Merve Bakırcı evaluated the commitment mechanism...

Authors: Prof. Dr. H. Ercüment Erdem, Tuna Çolgar, Melissa Balıkçı Sezen

Authors: Prof. Dr. H. Ercüment Erdem, Özgür Kocabaşoğlu, Didem Adlığ

The 'Career Days in Law' event, organized for the twentieth time by the Istanbul Bilgi University Faculty of Law Club, took place both face-to-face at Bilgi University SantralIstanbul campus and online on March 10-11 and 17-18, 2022...

Canan Doksat has been appointed as the chair of Young IFA Turkey on 05.03.2022. We congratulate Canan Doksat and we are delighted to share this news with you...

The Nuclear Regulation Law No. 7381 (“The Law”) has entered into force through its publication in the Official Gazette dated 08.03.2022 and numbered 31772. The Law introduces many rules and regulations to minimize the risks that can be result from the nuclear energy...

Pursuant to the Communiqué Amending Communiqué Concerning the Mergers and Acquisitions Calling for the Authorization of the Competition Board (“Amending Communiqué”) published in the Official Gazette...

The '10th Law Students Forum,' organized by Bilkent University Career in Law Club, took place online between February 21 and 27, 2022...

In recent years, many new business models have emerged and traditional business models have changed greatly, within the increasing digitalization in the economy. Along with said change, challenges arose for taxing the international business income of...

Pursuant to the Amendment Communiqué Concerning the Mergers and Acquisitions Requiring the Competition Board’s Approval (“Amending Communiqué”) published in the Official Gazette dated March 4th, 2022 and numbered 31768, certain amendments have been introduced...

In a decision dated 29.09.2021 with application number 2018/357 (“Decision”), the Constitutional Court decided by a large majority that the applicant's right to property was violated due to the fact that the immovables expropriated for the purpose of mass housing construction...

On 7 March 2022, a press release was published on the official website of the Federation Internationale de Football Association (FIFA) regarding the amendments made to the Regulations on the Status and Transfer of Players (RSTP) due to the extraordinary...

A non-compete covenant prohibits employees from competing on their own or a third party's behalf in the same field of activity as their former employer for a certain period of time after the termination of an employment contract. By the execution of a non-compete covenant...

The Competition Board (“Board”) has recently published a reasoned decision in which it evaluated BSH Ev Aletleri Sanayi ve Ticaret A.Ş.’s (“BSH”) request for negative clearance or exemption with regard to its practice of prohibiting authorized dealers from making sales through online marketplaces...

Following Russian Federation’s invasion of Ukraine, many countries, especially the European Union member states, the United States, United Kingdom, Japan and Canada, agreed on imposing heavy economic sanctions against Russia...

We are proud to announce that Didem Adlığ joined Erdem & Erdem as Managing Associate.

The Regulation on Process and Protection of Personal Data by the Social Security Institution (“Regulation”) entered into force through its publication in the Official Gazette dated 19.02.2022 and numbered 31755.

Article 38/2 of the Capital Movements Circular published by the Turkish Central Bank on 02.05.2018 (“Circular”) has been amended with the letter of Ministry of Treasury and Finance dated 08.02.2022 and numbered...

The Communiqué (III-42.1) on Remote Identification Methods to be Used by Intermediary Institutions and Portfolio Management Companies and...

The Regulation on the Provision of Remote Health Services (“Tele-Med Regulation”), which was prepared to serve the provision of health services independently of place and geography and based on modern medical technology, entered into force through...

Regulation on Environmentally Responsible Design of Energy-Related Products entered into force through its publication in the Official Gazette dated 05.02.2022 and numbered 31741. The Regulation...

Through the Regulation on the Enforcement of International Workforce Law published in the Official Gazette dated 02.02.2022 and numbered 31738, the Regulation on the Enforcement of the Law on Work Permits of Foreigners has been superseded...

Following the publication of the Official Gazette dated 04.02.2022 and numbered 31740, the Banking Regulatory and Supervisory Authority (“BRSA”) made amendments regarding the banking sector which...

Through the promulgation of Law No. 7352 Amending Tax Procedure Law and the Corporate Tax Law (“Law No. 7352”), published in the Official Gazette dated 29th January 2022...

Pursuant to the Regulation Amending the Regulation on Commercial Advertising and Unfair Commercial Practices (“Amending Regulation”) published in the Official Gazette dated 01.02.2022 and numbered 31737...

The Regulation on Protection and Processing of Personal Data by the Social Security Institution (the “Regulation”), the purpose of which is to determine the procedures and principles for processing data obtained within the scope of the duties and authority of...

The right to property, which is one of the concepts and values underlying the liberal economic and legal system, regulates the ownership relationship between the person and goods. The scope of the term “goods,” which is the subject of the concept of property...

The concept of disguised profit transfer in joint stock companies, in its broadest meaning, covers the transfer of company assets to related parties and may occur in different ways. This concept is regulated in detail under capital markets legislation...

We are proud of announcing that Sevgi Ünsal Özden was promoted to Managing Associate, as of January 1, 2022.

We are proud of announcing that Ecem Süsoy Uygun was promoted to Managing Associate, as of January 1, 2022.

Under Turkish law, the legal remedy that can be applied against arbitral awards is an annulment action. Law on International Arbitration No. 4686 (“IAL”) finds its application area in arbitration proceedings where Turkey is the place of arbitration...

The Personal Information Protection Law of the People’s Republic of China (“PIPL”) passed at the 30^th meeting of the Standing Committee of the 13^th National People’s Congress on 20 August 2021 and entered into force on 1 November 2021 as per Article 74...

Through the promulgation of the Law No. 7351, published in the Official Gazette dated 22.01.2022 and no. 31727, essential amendments are introduced to Turkish tax legislation. Apart from the tax amendments, a new provision has been added to...

Shahmaran, a Mesopotamian myth, is believed to take place in Tarsus. According to the myth, the shah of snakes is the immortal and omniscient "Shahmaran." Shahmaran is described as a beautiful woman living in her cave with her snakes...

The Communiqué Regarding Issuance of Secured Capital Market Instruments (II-31/B.1) (“Communiqué”) entered into force through its publication in the Official Gazette dated 26.01.2022 and numbered 31731...

Through the announcement of Circular No. VUK-138/2022-1 and dated 25 January 2022 (“Circular”) made by the Turkish Revenue Administration, it has been announced that the deadline for the submission of tax returns regarding...

Pursuant to the Communiqué on the Re-determination of Minimum Equity Amounts of Payment and Electronic Money Institutions (“Communiqué”) which is published in the Official Gazette dated 22.01.2022 and numbered...

During the COVID-19 pandemic, competitive concerns about the pricing behavior of chain markets, manufacturers, and wholesalers engaged in the retail trade of food and cleaning supplies led to an investigation by...

The Capital Markets Board’s (“Board”) long-awaited Communiqué on Crowdfunding No. III - 35/A.2 (“Communiqué”) entered into force through its publication in the Official Gazette numbered 31641 and dated 27 October 2021...

In today's world, there is no doubt that data has become one of the most valuable assets and resources for some companies. The ability to collect, store, process, and analyze data on a large scale has dramatically changed...

It is well known that following a decision of the Court of Justice of the European Union, problems arose related to arbitration of intra-EU disputes, and particularly arbitration under the Energy Charter Treaty...

The use of general terms and conditions is a commercial reality not only in consumer transactions but also in commercial transactions in certain industries such as automotive, banking, insurance, telecommunications and energy...

Authors: Mert Karamustafaoğlu, Can Yıldız

The European Council (Council) adopted the 9th Sanction Package (Sanction Package) to be applied against Russian Federation on 16.12.2022. The most notable sanctions imposed by the European Union (EU) against the Russian Federation under the Sanctions Package are summarized...

Att. Piraye Erdem, the Founding and Managing Partner of Erdem & Erdem, was appointed as Chairperson of the Board of Directors of the Health and Education Foundation (SEV), one of Turkey's oldest and well-established institutions. Att. Erdem took over the position of Chairperson of the Board of Directors...

‘Career Tailoring’ a career day event organized by Bilkent University Law Community, took place online between 3-5 December 2021...

The European Commission began investigating the collusive behavior of Credit Suisse, UBS, Barclays, RBS, and HSBC in the Foreign Exchange (forex) spot trading market in 2019. With the recent press release dated 02.12.2021, the Commission announced that the case is now closed...

Share subscription agreements, which are commonly encountered in start-up investments, set out the terms and conditions of an investor’s participation in a company as a shareholder by subscribing the new shares issued in a capital increase...

The possibility of appellate review of questions of fact, as well as of law, was introduced into Turkish law with an amendment made in the abrogated Civil Procedure Code No. 1086, through Law No. 5239 dated 26.09.2004. However, the Regional Courts of Appeal, which are the courts...

The electronic signature, which has the same legal consequences as wet signatures if it meets certain conditions, has taken its place in many legal systems and has enhanced commercial life. Although there are various types and applications in different legal systems...

When the past decisions and the recent decisions of the Competition Board (“Board”) are examined, a significant increase can be observed in the number of decisions where the Board found hindrance or obstruction of on-site inspections. This situation shows that...

Arbitration in corporate law contains controversial elements in many respects, especially the issue of arbitrability. Even in legal systems where these disputes are considered to be arbitrable, uncertainties remain on whether an arbitration clause can be included in the articles of...

Social media has emerged with the development of the digital world and internet technology and has greatly influenced the world today. One of the main categories of actors in social media is social media content producers. These people earn through social networks in...

Mert Karamustafaoğlu, one of Erdem & Erdem’s Partner and Competition & Compliance Leader gave a training on an online event titled " Understanding Competition Law and Current Developments in Competition Law" organized by Aegean Exporters' Associations on Thursday, November 18th...

German Supply Chain Due Diligence Act (Lieferkettensorgfaltsgesetz) (“Act”) was approved on 11 June 2021 by the German Federal Parliament.

Tax Amendments Introduced Through the Law No. 7341

The Communiqué on the Amendment to the Communiqué on Mandatory Reserves is published

Erdem & Erdem Represented Yıldırım Holding in the Soda Ash Factory to be Established in Kazakhstan

Significant Amendments are Introduced to the Block Exemption Communiqué on Vertical Agreements

Digitalization, in particular, necessitates the rewriting of competition law rules. Competition law is at the center all questions regarding e-commerce and digital platforms. The aforementioned platforms, which have become prominent due to innovations in...

Recently, the requirements of unquantified debt lawsuits have been subjected to the examination and review of the Court of Cassation. The Court of Cassation General Assembly of Civil Chambers, in its decision dated 07.07.2021 and numbered 2021/485 E. 2021/971 K. (“Decision”), examined whether...

Communiqué on Crowdfunding Has Been Published

In honor of our Founder and Senior Partner "Prof. Dr. H. Ercüment Erdem's" 60th birthday, the "Respect Conference for Prof. Dr. H. Ercüment Erdem" was held online on Tuesday, October 26 between 09.30-18.30. By virtue of the day-long event, Turkey's leading commercial law scholars from Galatasaray University, Koç University, Bilgi University, Ankara University, and Istanbul University were gathered.

The Law No. 7338 on the Amendment of Tax Procedural Law and Certain Other Laws Has Entered Into Force

The Rate Regarding the Working Time Spent Outside the Region and Centers by Personnel Working in Technology Development Zones and R&D or Design Centers Has Been Amended

The "Arbitration in the Resolution of Corporate Law Disputes" conference, which is organized in collaboration with the Republic of Turkey Ministry of Commerce General Directorate of Domestic Trade, Istanbul Chamber of Commerce Registry Office, and Istanbul Chamber of Commerce...

Amendments to the Communiqué on Decree No. 32 on the Protection of the Value of Turkish Currency (No: 2018-32/45)

The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended

Mortgage covered bonds are one of today’s most common structured finance products. Although they have a prominent presence in the marketplace today, these bonds have historical roots in the Pfandbrief of 18th century Prussia. In the aftermath of the Seven Years War, King Frederick the Great implemented...

The Amendments on the Circular on Capital Movements

The Announcement of the Personal Data Protection Authority Regarding Covid-19 Vaccines and PCR Tests.

The Regulation on the Electronic Notification by the Social Security Institution was Published

Amendments Regarding “Authorized Sender” Practice are Introduced

Erdem & Erdem Partner and Competition & Compliance Leader Mert Karamustafaoğlu was the guest of the "Competition Talks with Ali & Gökşin", a program moderated by former competition experts Ali Ilıcak and Gökşin Kekevi...

The Personal Data Protection Board Announced Its Decision Regarding the WhatsApp Investigation Initiated Ex-Officio

The Withholding Rate on Earnings from Shares of Venture Capital Investment Fund and Real Estate Investment Fund Participation Shares Held for More than Two Years Has Been Reduced to 0%

Akinon, which is supporting the omni-channel operations and digital transformation processes of Turkey's and the world's leading retail brands with its cloud-based solutions, attracted $20 million investment in the investment tour led by Actera Group and Revo Capital. Erdem & Erdem is proud to support Akinon...

Global Arbitration Review, which closely follows international developments in the field of arbitration and conducts extensive market research, selects the top 100 law firms in international arbitration worldwide as a result of its annual research. We are very pleased to announce to you that Erdem & Erdem has...

The Amendments on the Circular on Capital Movements

The Duration of VAT Rate Discounts on Certain Goods and Services is Extended Until 30 September 2021

The Period of Withholding Rate Reductions on Real Estate Rentals is Extended to September 30th

The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended

The Regulation on Settlement is published

Obligation of Ultimate Beneficial Owner Declaration for Corporate Taxpayers and Certain Persons

Amendment to the Regulation on Loan Operations of Banks

Amendment to the Regulation on the Procedures and Principles Regarding the Classification of Loans and Provisions to be Set Aside for Them

We are very proud to announce that Canan Doksat has been promoted as Managing Associate, as of July 1, 2021...

Arbitration has benifited from a great increase in the use of technology which has directly effected the conduct of proceedings. More particularly, with digitalization, the way that we conduct arbitration proceedings has been changed to reflect the current needs of parties, with an aim of increasing time...

We are very proud to announce that Alper Uzun has been promoted as Partner, as of July 1, 2021...

Time Extension for Wealth Amnesty

TerraLex, a worldwide network of quality law firms that meet high professional standards, celebrated its 30th year with 30 days event series lasted throughout June 2021.

The Board’s Decision Regarding Registration Obligation of Commercial Enterprises Affiliated to Associations, Foundations and Unions to the VERBIS has been Published

Organized by Global Arbitration Review, the “GAR Connect: Eastern Mediterranean event was held online on June 24, 2021. Arbitration experts around the world and senior executives of many global institutions attended the event where the latest developments and current practices in the field of arbitration in...

Significant Amendments are Introduced to the Enforcement and Bankruptcy Law

The new issue of the international, academic, open access and peer-reviewed "Personal Data Protection Journal", issued every six months by the Personal Data Protection Authority, was published on 23 June 2021...

The second issue of the ICC Dispute Resolution Bulletin 2021, which is prepared by arbitration and dispute resolution experts from different countries of the world and includes articles on doctrines, litigation decisions (awards, procedural decisions), global developments, ICC activities, book reviews and ICC...

RUSF Rate for the Loans Obtained from EBRD and IFC

The Period of VAT Reduction on Accommodation Services has been re-extended

The Competition Law and Practices Certificate Program was held by Istanbul Ticaret University between April 3rd and June 5th. The program consisted of three-hour 16 modules whose participants were lawyers, legal interns, students that are interested in competition law and the professionals that are dealing...

The Regulation on Sharing of Confidential Information was Published

The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended

The Duration of VAT Rate Discounts on Certain Goods and Services is Extended Until July 31st

Amendments to the Regulation on the General Assembly Meetings of Joint Stock Companies

The Implementation of Credit Rating is Postponed to December 31st

Communiqué on Portfolio Management Companies was Amended

Through the Presidential Decree numbered 3910 (“Decree”) published in the Official Gazette dated 23.04.2021 and numbered 31463, the period to benefit from the short-term working allowance has been extended until 30.06.2021.

International Chamber of Commerce (ICC) published “ICC Model Contracts for Start-ups” which was developed by a dedicated working group of international expert practitioners associated with the ICC Commission on Commercial Law and Practice (CLP) benefited particularly...

The Corporate Tax General Communiqué No. 18 is Published

The Decision of the Ankara 3rd Administrative Court Clarifying That Competition Board May Request Information and Documents from Undertakings Whose Headquarters Located Abroad by Notifying Their Subsidiaries in Turkey

SCT Amounts Imposed on Some Fuel Products Have Been Increased

The 2021 meeting of the IDI Annual Conference, organized by The International Distribution Institute (IDI) who brings lawyers, legal advisors and business people together from around the world, is held online on 10-20-27 May and 10-17 June 2021 due to the coronavirus pandemic...

The "Attorneyship Summit" organized by Başkent University Law Society was held online on 8-9 May 2021 with the participation of experts in their fields and leading law firms across Turkey...

Erdem & Erdem has been ranked again as a Top Tier law firm for its Dispute Resolution practice. Our Founder & Senior Partner Prof. Dr. H. Ercüment Erdem and Our Partner and Head of Dispute Resolution Süleyman Sevinç have been ranked in elite “Leading Individuals” list in this area again...

Despite all challenges and obstacles of the last year, we have adapted to the effects of the Covid-19 epidemic and, we are honored and delighted to present to you our new book, ‘Newsletter 2020’ published by On İki Levha Yayincilik...

Amendment to the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism

Cheque Submission Periods were Postponed

The Period of VAT Reduction on Overnight Services in Accommodation Facilities Has Been Extended for 1 Month

General Communiqué of the Financial Crimes Investigation Board is Published

Competition Board initiated an Investigation against 32 Undertakings concerning the Labor Market

United States of America decided to impose sanctions against the Russian Federation

Corporate Tax Rate has been increased

The Resolution of the President Numbered 3866 Ratified the Singapore Convention on Mediation

Competition Board's Investigation against Google concluded

Regulation on Not Using Crypto Assets in Payments is published

You can watch the webinar: “Effects of New Regulations and PSD2 on the Fintech Ecosystem: Where Are We, Where Are We Going?” here... (in Turkish)

Social Security Institution Introduced New Codes for Termination

The live webinar titled “Effects of New Regulations and PSD2 on the Fintech Ecosystem: Where Are We, Where Are We Going?”, organized with the cooperation of Erdem & Erdem Law Office and Turkish Capital Markets Association (TCMA) was held on 12 April 2021...

Amendments to Regulation on the Conciliation Before Assessment

Communiqué on the Notification and Registration of Bearer Shares to the Central Securities Depository

Regulation on Remote Identification Methods to be Used by Banks and Establishment of Contractual Relations in Electronic Environment is Published

Authors: Mert Karamustafaoğlu, Merve Bakırcı

The Period of the Low Withholding Rates Related to Deposit Interest and Dividends Paid by Participation Banks are Extended

Declaration of Wage Incomes for FY2020

The live webinar titled “Obstacles Faced by Start-ups”, organized with the cooperation of Erdem & Erdem Law Office and Turkish Capital Markets Association (TCMA) was held on 23 March 2021. In the online panel moderated by Tevfik Eraslan, TCMA Chairman of the Board, Prof. Dr. H. Ercüment Erdem...

You can watch the “Obstacles Faced by Start-ups” webinar here... (in Turkish)

The Amendments on the Circular on Capital Movements

The Regulation on Prevention Plans to be Prepared by Systemically Important Banks is published

16th ICC Turkish Arbitration Day, organized with the cooperation of the International Court of Arbitration of the International Chamber of Commerce (ICC), , National Commitee of ICC Turkey and the Union of Chambers and Commodity Exchanges of Turkey (TOBB), was held online on 17-18 March 2021...

The Communiqué on Practices that do not Significantly Restrict Competition Entered into Force

The second SME training titled “ICC Expedited Arbitration” organized by International Chamber of Commerce (ICC) for small and medium sized enterprises (SME’s) and newly-established companies to discover ICC dispute resolution tools is held live online on March 16th, 2021...

Amendment to the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism

The Principles Regarding the Submission of Commitments to Competition Authority are Regulated by the Communiqué

Through the decision dated 11.03.2021 and numbered 2021/238 (“Decision”), the Personal Data Protection Board has decided to re-extend the registration periods of the Data Controllers Registry (“VERBIS”) due to the Covid-19 outbreak.

The Regulation on Remote Working (“Regulation”) which stipulates works that cannot be realized remotely, operation rules regarding data protection and transfer and the procedures and principles of remote working, entered into force through its publication in the Official Gazette dated 10.03.2020 and numbered 31419.

Through the Presidential Decree numbered 3592 (“Decree”) published in the Official Gazette dated 09.03.2021 and numbered 31418, the periods of the prohibition of termination and the unpaid leave practices are extended for two months.

Special Communication Tax as Deductible Expense

In a state where the rule of law prevails, legal remedies are indispensable to eliminate judicial errors through the supervision of court decisions. However, legal disputes must be settled at some point and decisions must be finalized. In this Newsletter, appellate procedures against final court decisions will be...

Amendment to the Communiqué on the Procedures and Principles Regarding the Fees that Banks Can Charge Their Commercial Clients

Amendment to the Regulation on Procedures and Principles concerning Monitoring of Transactions Affecting Foreign Exchange Position by Central Bank of Republic of Turkey

Organized by Marmara University Faculty of Law, Department of Private International Law and Istanbul Arbitration Center (ISTAC), the 24th panel of the Arbitration School titled "ICC Arbitration Rules in the Light of 2021 Changes" was held on 24th of February, 2021 between 17:00 and 19:00 and broadcasted...

Second Extension of the Period Designated for Submission of the First Country by Country Report

Significant Amendments on the Electricity Market Balancing and Settlement Regulation and Electricity Market Consumer Services Regulation

The Amendments on the Circular on Capital Movements

Amendment to the Communiqué on the Execution of Companies’ Articles of Association at the Trade Registry Directorates

Through the Presidential Decree numbered 3556 (“Decree”) published in the Official Gazette dated 19.02.2021 and numbered 31400, the period to benefit from the short-term working allowance has been extended until 31.03.2021.

Competition Board's Interim Measure Decision on WhatsApp has been published

Amendments were made in relation to subsequently submitted certificates of origin

A video conference on “Competition Violations Through Processing of Personal Data in Light of WhatsApp Data Policy Amendment” organized by Energy Law Research Institute (ELRI), was held as livecast on 11 February 2021...

Limitation on Financing Expense Deduction is Back

The Constitutional Court Decision Regarding Examination of the Corporate E-mail Account

Tax Regulations Regarding Technopolis and R&D Centers

Withholding Rate of Long-term Construction and Repair Business was increased

Amendments to the Provisions of the Turkish Commercial Code

SCT Rates on Electric Cars were increased

Amendments to the Renewable Energy Resources Support Mechanism

The Communiqué (No: 2008-32/34) on Decree No. 32 has been changed

The Competition Board Rejected the Request for Exemption to the Agreement Between Johnson & Johnson and Pharmaceutical Warehouses

VAT in Urban Transformation was reduced to 1%

Special Communication Tax Rate was increased to 10%

Through the Tax Procedural Code General Communiqué Serial No. 524 (“Communiqué”), published in the Official Gazette dated 25th January 2021 and No. 31375, force majeure was accepted for taxpayers whose activities were discontinued or suspended in the Covid-19 outbreak.

Advertisements on Twitter, Pinterest and Periscope/Scope has been banned in Turkey

The Personal Data Protection Authority’s New Resolution

The Communiqué on the Procedures and Principles Regarding Valuable House Tax was published

Competition Board initiated an Investigation against Facebook and Whatsapp

The Personal Data Protection Board Ex-Officio Initiated An Investigation against WhatsApp

Competition Board conditionally approved the Merger Transaction of Fiat Chrysler Automobiles N.V. and Peugeot S.A.

Amendment to the Turkish Commercial Code

The Communiqué on the Squeeze-out and Sell-out Rights was published

Through the Presidential Decree numbered 3344 (Decree) published in the Official Gazette dated 30.12.2020 and numbered 31350, the periods of the prohibition of termination and the unpaid leave practice were extended for two months.

Income Tax Tariffs Applicable on Remunerations and Income Other than Remunerations Acquired in 2021 were determined

The Communiqué on Article 376 of the TCC was amended

The Upper Limit of Stamp Tax to be Applied in 2021 was determined

Through the promulgation of the President Decree No. 3323 (“Decision”), published in the Official Gazette dated 23 December 2020 and No. 31343, the conditions of grant and lease support to be given to tradesmen and craftsmen and natural person merchants due to the coronavirus epidemic were determined.

Through the Presidential Decrees numbered 3316 and 3317 published in the Official Gazette dated 23.12.2020 and numbered 31343, the period to apply for short-term working allowance is extended until 31.01.2021 and the period to benefit from the short-term working allowance is extended until 28.02.2021.

The Duration of VAT Rate Discounts on Certain Goods and Services is Extended

European Commission Proposed the Digital Markets Act to the European Parliament

The Eligible Consumer Limit in Electricity was reduced

Extension of the Period Designated for Submission of the First Country by Country Report

The Liability for Valuable House Tax will be effective as of 2021

Announcement of the Banking Regulation and Supervision Agency dated 08.12.2020

Regulation on Processing of Personal Data and Protection of Confidentiality in the Electronic Communications Sector was Published

The law amendment concerning regulations in the natural gas, electricity, renewables and mining has entered into force

Through the Presidential Decrees numbered 3246, 3247 and 3248 published in the Official Gazette dated 02.12.2020 and numbered 31322, the implementation periods of the employment incentives and the normalization premium support, provided for employers by the Social Security Institution were extended.

Through the Presidential Decree (Decree) numbered 3238 published in the Official Gazette dated 01.12.2020 and numbered 31321, the period to apply for short-term working allowance is extended until 31.12.2020.

Deadline of the Message Management System was postponed

Procedures and Principles regarding the Wealth Amnesty were determined

The Revaluation Rate was determined as 9,11 % for 2020

Procedures and Principles regarding the Restructuring of Some Public Receivables were determined through the General Communiqué Serial No.1

Deadline regarding Message Management System is approaching

Takasbank has been granted an Operating Certificate regarding Future Electricity Market and Organized Renewable Energy Source Guarantee Market

Organized by Marmara University Faculty of Law, Department of Private International Law and Istanbul Arbitration Center (ISTAC), the 21th panel of the Arbitration School titled " Challenge of the Arbitrator" was held on 25th of November, 2020 and broadcasted live on Youtube...

10th Competition Law Certificate Program was held by Istanbul Bilgi University between October 10 and November 22. The program consisted of 16 modules whose participants were lawyers, legal interns, students that are interested in competition law and the professionals...

The New Wealth Amnesty entered into force through the Promulgation of the Law No. 7256

Corporate Tax Rate Discount for Some Institutions Whose Shares Are Offered to the Public for the First Time

Provisions on Restructuring of Public Receivables of the Law No. 7256 entered into force

New Taxation Rules were introduced for Share Buybacks

Competition Board Decision regarding implementation of administrative fines for some banks due to not providing the information requested by the Competition Authority

The 5th Public Private Partnership (PPP) Week, organized with the cooperation of the Foreign Economic Relations Board (DEİK) and the Istanbul PPP Center of Excellence (PPPCoE), was held online between 2 and 5 November 2020. The event, which included project presentations of senior...

Through the Presidential Decrees numbered 3134 and 3135 published in the Official Gazette dated 27.10.2020 and numbered 31287, the periods of the short-term working allowance, the prohibition of termination and the unpaid leave practices were extended for two months.

Energy Disputes Arbitration Center (EDAC) Established

The book titled ‘Türk Hukukunda İş Ortaklıkları ve Vergilendirilmesi (Taxation of Joint Ventures Under Turkish Law)’ of Alper Uzun, who is Managing Associate and Mediator in Dispute Resolution Department of Erdem & Erdem, was published by On İki Levha Yayıncılık...

Amendment to the Regulation on Foreign Direct Investments Law

Announcement on the Value of the Lease Contracts made in Foreign Currency and Indexed to Foreign Currency is published

The Regulation on Real Estate Trade has been amended

Competition Authority Published the Guideline on Examining Digital Data During On-Site Inspections

Amendment to the Regulation on the Procedures of General Assembly Meetings of Joint Stock Companies

Procedures and Principles Regarding the Tax Registration Cancellation of Taxpayers with High Risk to Forge Documents is Published

Anadolu Cam, Denizli Cam, Paşabahçe, Soda Sanayii and Trakya Cam were Merged Under Şişecam

The Communiqué on Corporate Governance has been amended

Supplier of Last Resort Tariff is Amended

Through the promulgation of the President Decision No. 3032 (“Decision”), published in the Official Gazette dated 30th September 2020 and No. 31260, the withholding tax rates on the interest earned from Turkish Lira deposit accounts and the dividends paid to participation accounts by participation banks are temporarily reduced.

Through the promulgation of the President Decision No. 3031 (“Decision”), published in the Official Gazette dated 30th September 2020 and No. 31260, the Bank and Insurance Transactions Tax (“BITT”) rate, which should be calculated over the amount of foreign exchange (foreign currency) transactions, is reduced to 2 per thousand.

The Regulation on the Amendment to the Regulation on Bank Cards and Credit Cards is published

With the Presidential Decree dated 17.09.2020 and numbered 2948 (“Presidential Decree”) published in the Official Gazette dated 18.09.2020 and numbered 31248, it has been resolved to extend the period specified in the first paragraph of the Provisional Article 13 of the Turkish Commercial Code numbered 6102 (“TCC”) for three months.

Presidential Decree on the Facilities Engaged in Production Activity Based on Renewable Energy Resources

Communiqué on Board of Debt Instrument Holders was published

Through the Presidential Decrees numbered 2930 published in the Official Gazette dated 04.09.2020 and numbered 31234, the periods of prohibition of termination and unpaid leave practice are extended for 2 months.

The 1990’s hold significant importance by means of the developments that took place in the global economy. During the transition to the second half of the 1900’s, the Federal Reserve increased interest rates, and the hot money flow changed its direction from East Asian countries to the West...

Through the Presidential Decree numbered 2915 published in the Official Gazette dated 31.08.2020 and numbered 31230, the period of short-term working allowance is re-extended for two months.

Special Consumption Tax Rates and Base for Some Passenger Cars are Amended

VAT Rate Applicable to Education Services Provided in Private Schools and Universities is Reduced to 1%

Deadline of the Message Management System was postponed

TR QR Code Period in Payment Services is Commencing

Whitford's Breach of US Iran Sanctions

Regulations on Social Media and Internet Contents Through Law No. 7253

Through the Presidential Decisions numbered 2810 and 2811, published in the Official Gazette dated 31.07.2020 and numbered 31202, the periods of short-term working allowance, prohibition of termination and unpaid leave practice are extended for one more month.

Through the promulgation of the President Decree No. 2813 (“Decree”), published in the Official Gazette dated 31 July 2020 and No. 31202, the withholding tax rate in real estate rentals is reduced to 10% until 31 December 2020.

Through the promulgation of the President Decree No. 2812 (“Decree”), published in the Official Gazette dated 31 July 2020 and No. 31202, VAT rates were reduced to 8% and to 1% for others until 31 December 2020 for specific goods and services.

The Law No. 7252 on Establishment of Digital Platform Commission and Amendment to Certain Laws, which amends the Unemployment Insurance Law No. 4447 (“Law No. 4447”), the Labor Law No.4857 (“Labor Law”) and the Occupational Health and Safety Law No.6331, entered into force through...

From Erdem & Erdem, Partner and Competition & Compliance Leader Mert Karamustafaoğlu and Senior Associate Elif Mungan were the guests of the live broadcast on YouTube Channel themed “What Does The Competition Law Amendments Bring?” held by Prof. Dr. Tekin Memiş who is the faculty member...

The live broadcast on “Counsel for Claimant in Arbitration in İstanbul Chamber of Commerce Arbitration and Mediation Center (ITOTAM)” organized by Istanbul Bar Association Arbitration Center was held on July 7, 2020 from the Instagram account of Istanbul Bar Association Arbitration Center. Fatih Işık...

Through the Presidential Decrees numbered 2706 and 2707 published in the Official Gazette dated 30.06.2020 and numbered 31171, the periods of short-term working allowance, prohibition of termination and unpaid leave practice are extended for one month.

The Law No. 7247 Amending Certain Laws and Decrees published on the Official Gazette dated June 26, 2020 and numbered 31167 (“Law No. 7247”) amends several laws including the Banking Law numbered 5411 (“Banking Law”) and the Capital Market Law numbered 6362 (“Capital Market Law”).

The Law Amending the Law on the Protection of Competition numbered 7246 (“Law No. 7246”) entered into force through publication in the Official Gazette dated 24.06.2020 and numbered 31165. The Law No. 7246 brought important changes to the Law on the Protection of Competition numbered 4054 (“Law No. 4054”).

Through the decision dated 23.06.2020 and numbered 2020/482 (“Decision”), the Personal Data Protection Board has decided to re-extend the registration periods of the Data Controllers Registry (“VERBIS”) due to the Covid-19 outbreak.

Marmara University Faculty of Law, Department of Private International Law and Istanbul Arbitration Centre (ISTAC) organized the last panel of “Arbitration School 2019-2020” on “Judicial Expenses and Costs in Arbitration”. The panel was held as livecast at Youtube Channel of Arbitration School...

Legislative Proposal (“Legislative Proposal”) Amending the Law on the Protection of Competition numbered 4054 (“Law No. 4054”) was accepted at the General Assembly of the Grand National Assembly of Turkey on 16.06.2020. The Legislative Proposal brought important changes to the Law No. 4054.

In workplace rents, where the lessee is a person deemed as merchant under the Turkish Commercial Code or a private or public legal entity, pursuant to Provisional Article 2 of the Law No. 6217 on the Amendment of Certain Laws for the Acceleration of Judicial Services dated 31.03.2011 (“Law”), it was regulated that certain provisions of the Turkish Code of Obligations No. 6098 (“TCO”) regarding lease agreements shall not apply for a period of 8 years starting from 01.07.2012, the date when the TCO came into force. With the expiry of the period specified under the article, such provisions will come into force as of 01.07.2020.

Through the promulgation of the President Decision No. 2604 (“Decision”), published in the Official Gazette dated 3rd June 2020 and No. 31144, the withholding tax rate on free exchange funds was increased to 15%.

The Communiqué (II-23.2.b) (“Communiqué”) on the Amendment to the Communiqué on the Mergers and Spin-offs (II-23.2) entered into force through publication in the Official Gazette dated 30.05.2020 and numbered 31140.

The deadline for the service providers who are in the scope of the Law No. 6563 on Regulation of Electronic Commerce and the Regulation on Commercial Communication and Commercial Electronic Messages (“Service Provider”), to register with the Message Management System and to upload previously collected opt-in consents of commercial message recipients (“Recipient”), is 31.08.2020.

Regulation on Unfair Price Evaluation Board (“Regulation”) published in the Official Gazette, dated 28 May 2020 and numbered 31138, was entered into force.

Through the promulgation of the Presidential Decision No. 2569 (“Decision”), published in the Official Gazette dated 24th May 2020 and No. 31136, the withholding tax rate is increased to 15% for the income to be obtained from those below & the earnings arising from their disposal:

Through the promulgation of the Presidential Decision No. 2568 (“Decision”), published in the Official Gazette dated 24th May 2020 and No. 31136, the Bank and Insurance Transactions Tax (“BITT”) rate, which should be calculated over the sale amount of foreign exchange transactions is increased to 1%.

Through the Announcement dated 21.05.2020 (“Announcement”) released through the official website of Banking Regulation and Supervision Agency (“Agency”), the decision of the Agency dated 21.05.2020 and numbered 9033 (“Decision”) has been announced.

Through the promulgation of the Additional President Decision to Import Regime Decision No. 2565 (“Decree”), published in the Official Gazette dated 20th May 2020 and No. 31132, additional customs duty is imposed on several products (more than 800), including marbles, granites, rubber goods, cotton threads, glassware, some iron and steel products and electronics.