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The Erdem & Erdem team follows current legal developments, keeps you informed of amendments, writes articles, publishes books and organizes conferences and seminars in many fields of law.
Highlights
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...
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...
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...
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...
All Contents
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...
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...
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...
Mert Karamustafaoğlu, Sevgi Ünsal Özden
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...
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 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...
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...
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...
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, Özgür Kocabaşoğlu, Didem Adlığ
Authors: Prof. Dr. H. Ercüment Erdem, Tuna Çolgar, Melissa Balıkçı Sezen
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...
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...
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...
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...
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...
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...
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...
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...
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 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 Ecem Süsoy Uygun was promoted to Managing Associate, as of January 1, 2022.
We are proud of announcing that Sevgi Ünsal Özden was promoted to Managing Associate, as of January 1, 2022.
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 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 Personal Information Protection Law of the People’s Republic of China (“PIPL”) passed at the 30th meeting of the Standing Committee of the 13th 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...
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...
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...
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...
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...
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...
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...
Authors: Mert Karamustafaoğlu, Can Yıldız
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
Significant Amendments are Introduced to the Block Exemption Communiqué on Vertical Agreements
Erdem & Erdem Represented Yıldırım Holding in the Soda Ash Factory to be Established in Kazakhstan
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...
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
Amendments to the Communiqué on Decree No. 32 on the Protection of the Value of Turkish Currency (No: 2018-32/45)
The Amendments on the Circular on Capital Movements
The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended
The Announcement of the Personal Data Protection Authority Regarding Covid-19 Vaccines and PCR Tests.
Amendments Regarding “Authorized Sender” Practice are Introduced
The Regulation on the Electronic Notification by the Social Security Institution was Published
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%
The Amendments on the Circular on Capital Movements
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 Duration of VAT Rate Discounts on Certain Goods and Services is Extended Until 30 September 2021
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
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
Significant Amendments are Introduced to the Enforcement and Bankruptcy Law
The Period of VAT Reduction on Accommodation Services has been re-extended
RUSF Rate for the Loans Obtained from EBRD and IFC
The Regulation on Sharing of Confidential Information was Published
The Duration of VAT Rate Discounts on Certain Goods and Services is Extended Until July 31st
The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended
The Implementation of Credit Rating is Postponed to December 31st
Amendments to the Regulation on the General Assembly Meetings of Joint Stock Companies
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.
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
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...
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
The Resolution of the President Numbered 3866 Ratified the Singapore Convention on Mediation
United States of America decided to impose sanctions against the Russian Federation
Regulation on Not Using Crypto Assets in Payments is published
Competition Board's Investigation against Google concluded
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.
Social Security Institution Introduced New Codes for Termination
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
Att. Mert Karamustafaoğlu, Att. Merve Bakırcı
The Period of the Low Withholding Rates Related to Deposit Interest and Dividends Paid by Participation Banks are Extended
Webinar: “Obstacles Faced by Start-ups”
The Regulation on Prevention Plans to be Prepared by Systemically Important Banks is published
The Amendments on the Circular on Capital Movements
The Communiqué on Practices that do not Significantly Restrict Competition Entered into Force
The Principles Regarding the Submission of Commitments to Competition Authority are Regulated by the Communiqué
Amendment to the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism
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
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
The Amendments on the Circular on Capital Movements
Second Extension of the Period Designated for Submission of the First Country by Country Report
Amendment to the Communiqué on the Execution of Companies’ Articles of Association at the Trade Registry Directorates
Significant Amendments on the Electricity Market Balancing and Settlement Regulation and Electricity Market Consumer Services Regulation
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
The Constitutional Court Decision Regarding Examination of the Corporate E-mail Account
Limitation on Financing Expense Deduction is Back
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
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
SCT Rates on Electric Cars were increased
Amendments to the Renewable Energy Resources Support Mechanism
Special Communication Tax Rate was increased to 10%
VAT in Urban Transformation was reduced to 1%
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
Income Tax Tariffs Applicable on Remunerations and Income Other than Remunerations Acquired in 2021 were determined
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.
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 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.
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.
European Commission Proposed the Digital Markets Act to the European Parliament
The Duration of VAT Rate Discounts on Certain Goods and Services is Extended
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
The Revaluation Rate was determined as 9,11 % for 2020
Procedures and Principles regarding the Wealth Amnesty were determined
Procedures and Principles regarding the Restructuring of Some Public Receivables were determined through the General Communiqué Serial No.1
Takasbank has been granted an Operating Certificate regarding Future Electricity Market and Organized Renewable Energy Source Guarantee Market
Deadline regarding Message Management System is approaching
New Taxation Rules were introduced for Share Buybacks
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
Competition Board Decision regarding implementation of administrative fines for some banks due to not providing the information requested by the Competition Authority
Energy Disputes Arbitration Center (EDAC) Established
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.
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
Presidential Decree on the Facilities Engaged in Production Activity Based on Renewable Energy Resources
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.
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.
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.
VAT Rate Applicable to Education Services Provided in Private Schools and Universities is Reduced to 1%
Special Consumption Tax Rates and Base for Some Passenger Cars are Amended
Deadline of the Message Management System was postponed
TR QR Code Period in Payment Services is Commencing
Regulations on Social Media and Internet Contents Through Law No. 7253
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.
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 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.
Dear Business Partners,
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 publication on the Official Gazette dated 28.07.2020 and numbered 31199.
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.
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 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.
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.
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. 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 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 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.
The Communiqué (“Communiqué”) on Procedures and Principles of Implications of Provisional Article 13 of Turkish Commercial Code No. 6102 entered into force through publication in the Official Gazette dated 17.05.2020 and numbered 31130.
The Communiqué (III-59.1.ç) on the Amendment to the Communiqué on the the Covered Bonds (III-59.1) (“Communiqué”) entered into force through publication in the Official Gazette dated 14.05.2020 and numbered 31127.
Social Security Institution published a Circular dated 07.05.2020 and numbered 2020/12 ("Circular") regarding the disease inflicted from Covid-19.
Through the Tax Procedural Law Circular No.130 (Circular), the submission period of Advance Income...
The Presidential Decree dated 08.05.2020 and numbered 2501 on the Amendment to the Decree on State Aids for Investments (“Decree”) entered into force through publication in the Official Gazette dated 09.05.2020 and numbered 31122.
Through the promulgation of the Additional President Decision to Import Regime Decision No. 2514 (“Decree”), published in the Official Gazette dated 11th May 2020 and No. 31124 (repeated), additional customs duty is imposed on several products (more than 400), including agricultural devices, machines, jewelry, white goods, musical instruments and sports equipment.
The Regulation on the Manipulation and Misleading Transactions on Financial Markets (“Regulation”) entered into force through publication in the Official Gazette dated 07.05.2020 and numbered 31120.
Through the press announcement (“Announcement”) dated 05.05.2020 and published on the website of the Banking Regulation and Supervision Agency, the measures taken by the Banking Regulation and Supervision Board (“Board”) with the Decision dated 05.05.2020 and numbered 9010 to be implemented until the extraordinary circumstances arising in relation to the COVID-19 outbreak, have been announced.
Turkish Patent and Trademark Office (“Office”) published “Information on Extension of Time Limitations related to Industrial Property Applications” (“Information”) on 5 May 2020.
As known, pursuant to Provisionary Article 1 of the Law No. 7226 Amending Certain Codes dated 26 March 2020 (“Law”), judicial time limitations were suspended until 30 April 2020 (including this date).
Provisional Article 24 has been added to the Law No. 4447 on Unemployment Insurance through the introduction of the Law on Reducing the Effects of Novel Coronavirus Pandemic on Economic and Social Life and Law on Amendments to Certain Laws No. 7244.
With the public announcemenet dated 21.04.2020 (“Announcement”), the Republic of Turkey Ministry of Energy and Natural Resources announced the measures taken regarding the mining sector due to the COVID-19 outbreak.
Through the Tax Procedure Law Circular No.129 (Circular), published on the website of the Revenue Administration on 21th April 2020; the payment and submission periods of the VAT declarations pertaining to 2020/February and 2020/March are extended until 28th April 2020.
Through the Tax Procedure Law Circular No.128 (“Circular”) published on 20th April 2020;
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...
An important regulation is made regarding the time periods of the Corporate Tax declarations through the Tax Procedural Law Circular No. 127 (“Circular”), published in the official website of the Revenue Administration on 17th April 2020.
The Law No. 7244 on the Mitigation of the Impacts of the Novel Coronavirus (COVID-19) Outbreak on Economic and Social Life and on the Amendment of Certain Laws (“Law”) entered into force through publication in the Official Gazette dated 17.04.2020 and numbered 31102.
Significant amendments have been introduced regarding certain receivables through the Law No. 7244 on the Mitigation of the Impacts of the Novel Coronavirus (COVID-19) Outbreak on Economic and Social Life and on the Amendment of Certain Laws (“Law”) which entered into force through publication in the Official Gazette dated 17.04.2020 and numbered 31102.
Important amendments are made in the Law on Regulation of Retail Trade numbered 6585 (“Law No. 6585”) through the Law No. 7244 Amending the Certain Laws to Minimize the Economic and Social Impacts of the COVID-19 Pandemic (“Law”) which is published in the Official Gazette dated 17 April 2020 and numbered 31102. The principal issues regarding the amendments are summarized below.
Through the Law on Reducing the Effects of Novel Coronavirus (Covid-19) Pandemic on Economic and Social Life and Law on Amendments to Certain Laws No. 7244 (“Law”) published in the Official Gazette dated 17.04.2020 and numbered 31102 important amendments are introduced to the labor law legislation. In this regard;
Important amendments are made in the criminal execution law through the Law No. 7242 Amending the Law on Execution of Sentences and Security Measures and Certain Codes (“Law”) which is published in the Official Gazette dated 15 April 2020. The principal issues regarding the amendments are summarized below.
A livecast on Force Majeure in Commercial Contracts during COVID-19, organized by International Chamber of Commerce (ICC), was held on Friday, 10 April 2020.
The General Directorate of Occupational Health and Safety of The Ministry of Family, Labor and Social Services (“Directorate”) published a guide (“Guide”) entitled Frequently Asked Questions and Answers Regarding Occupational Health and Safety in Combating Novel Coronavirus (“Covid-19”) Outbreak on 10.04.2020.
Following the announcement of the implementation of the Pandemic Isolation Tracking Project led by the Ministry of Health, the Personal Data Protection Authority published a public announcement on 09.04.2020 entitled Matters to Know about the Processing of Location Data and Monitoring Mobility of People in the Combat with COVID-19 (“Announcement”).
Turkish Patent and Trademark Office (“Office”) published “Information on Time Limitations Related to Industrial Property Applications” (“Information”) on 8 April 2020.
The coronavirus (Covid-19) epidemic, which first appeared in Wuhan, China, has been declared a global epidemic by the World Health Organization.
As measures against the COVID-19 pandemic impacts business life, the aftermath also brings with it the necessity to re-visit financing agreements by the parties.
While we are washing hands, what is happening in the World of Competition Law
The Energy Market Regulatory Authority (EMRA) published an announcement on 03.04.2020 within the scope of the measures taken against COVID-19 outbreak.
The Presidential Circular on the “Effect of the COVID-19 Outbreak on Public Procurement Contracts” dated 01.04.2020 and numbered 2020/5 (“Circular”) was published in the Official Gazette dated 02.04.2020 and numbered 31087.
The Banking Regulation and Supervision Board ("Board") published its decision dated 02.04.2020 and numbered 8976 ("Decision") within the scope of the measures taken against COVID-19 outbreak.
Social Security Institution (“Institution”) announced with the notice published in its website on 02.04.2020 (“Notice”), that insurance premium payment periods of the various employers who employ insured in workplaces were postponed due to the novel coronavirus (“Covid-19”).
Pursuant to letter dated 31 March 2020 sent by the Republic of Turkey Ministry of Trade (“Ministry”) to the Union of Chambers and Commodity Exchanges of Turkey, numerous chambers of commerce throughout Turkey published an announcement regarding dividend distributions on their websites starting from 2 April 2020 (“Announcement”).
The concepts of short-term working and short-term working allowance which find execution area in the period of novel coronavirus (“COVID-19”) pandemic, are regulated under additional Article 2 of the Law numbered 4447 on Unemployment Insurance.
Through the promulgation of the Law numbered 7226 on Amendments to Certain Laws (“Law”) published in the Official Gazette dated 26.03.2020 and numbered 31080 (bis) following amendments are introduced to the labor and social security legislation under the novel coronavirus (“Covid19”) measures. In this regard;
European Commission’s Directorate-General for Competition (“DG Comp) established a new webpage entitled “antitrust rules and coronavirus”, which outlines policies and antitrust measures related to Covid-19 outbreak, on 30.03.2020.
On March 28, 2020, the UK Government has announced new measures on bankruptcy law in order to support businesses during the COVID-19 outbreak.
Important amendments are made through the Communiqué ("Communiqué No. 2020/11"), regarding the Amendment of the Communiqué on Procedures and Principles Regarding the Fees That Banks Can Charge Their Commercial Clients ("Communiqué No. 2020/4"), published in the Official Gazette dated March 29, 2020 and No. 31083. The Communiqué No. 2020/11 shall enter into force on April 1, 2020.
The Personal Data Protection Authority (“PDP Authority”) clarified the issues to be considered within the scope of the Law on the Protection of Personal Data No. 6698 (“Law”) in the process of combating Covid-19 with the Public Announcement (“Announcement”) published on 27.03.2020.
Through the announcement published on the official website of Revenue Administration on 30th March 2020, the scope of tax types that can be paid from the Interactive Tax Office via credit card and contracted banks is expanded due to Covid-19 epidemic disease.
On March 25, 2020, International Chamber of Commerce (ICC) published the new force majeure and hardship clauses (ICC Force Majeure and Hardship Clauses 2020).
Through the promulgation of the Law Amending Some Laws No. 7226 (Law), published in the Official Gazette dated 26th March 2020 and No. 31080 (repeated), two important amendments are made in the tax legislation.
Important amendments were made with respect to time limitations in legal proceedings and lease contracts for workplaces through the Law No. 7226 Amending Certain Codes (“Law”) which was published in the Official Gazette dated 26 March 2020 and numbered 31080 (Bis 1).
Through the Tax Procedural Code General Communiqué Serial No. 518 (“Communiqué), published in the Official Gazette dated 24th March 2020 and No. 31078 (repeated), regulations are made in relation to the taxpayers that will benefit from the “force majeure” regulations indicated under Tax Procedural Code No. 213 (“TPC”) and in terms of tax applications.
The European Data Protection Board (EDPB) has adopted a statement regarding processing of personal data in the context of the COVID-19 outbreak on 19 March 2020. In the statement, EDPB underlines that, the data controller and processor must ensure the protection of the personal data of the data subjects, even in exceptional times; however, data protection rules (such as the GDPR) do not hinder measures taken in the fight against the coronavirus pandemic.
Pursuant to the Presidential Resolution on Suspending the Execution and Bankruptcy Proceedings, which was published in the Official Gazette dated 22 March 2020 and numbered 31076, it has been decided to suspend all active execution and bankruptcy proceedings in the country until 30 April 2020. On the application of this Resolution, the Ministry of Justice, Department of Execution Proceedings published the Circular dated 24 March 2020 ("Circular").
An important statement is made by the Competition Authority (“Authority”) regarding the recent developments in the prices in the food market through the public announcement dated 23 March 2020 and published in the Authority’s web site.
Through the Tax Procedure Law Circular No.126 (“Circular”), which was published on the website of the Revenue Administration on March 23, 2020;
An important regulation is made temporarily in the execution and bankruptcy law through the Resolution No. 2279 Resolution on Suspending the Execution and Bankruptcy Proceedings (“Resolution”), published in the Official Gazette dated 22 March 2020 and No. 31076. The resolution is summarized below.
Through the Statement Regarding the General Assembly Meetings of Companies dated 20.03.2020 (“Statement”), the measures taken regarding the company meetings in order to prevent spread of the Coronavirus COVID-19 outbreak were declared via website of the Ministry of Trade of Republic of Turkey.
Through the Digital Service Tax Application General Communiqué (“Communiqué”), published in the Official Gazette dated 20th March 2020 and No. 31074, the principles regarding the application of the Digital Service Tax (“DST”) is determined.
'Economic Stability Shield' package aiming to take control of Covid-19 Epidemic’s impact on the Turkish economy is announced during the meeting held on 18th March 2020.
The Regulation on the Information Systems of the Banks and Electronical Banking Services (“Regulation”) is published in the Official Gazette dated 15 March 2020 and numbered 31069. Regulation will enter into force on 1 July 2020.
Periods for submission of annual income tax returns and the payment period of the first installment are extended until 30th April 2020 through the Tax Procedure Law Circular No.125 (“Circular”), published on the website of the Revenue Administration on 17th March 2020.
Kadir Has University Faculty of Law held The Panel on International Investment Arbitration and Third Party Funding in International Arbitration on May 10, 2018 in Kadir Has University, Cibali Hall. In the panel, Erdem & Erdem's senior lawyer Fatih Işık gave a speech on...
It is known that since 2016, the Competition Authority has been conducting investigations against the large energy groups and imposing severe administrative penalties on the relevant undertakings. The authorized electricity suppliers are...
Legal 500 one of the leading international legal directories which provides rankings of law firms based purely on client feedback, published their Europe, Middle East & Africa (EMEA) 2018 results. We are proud to announce that Erdem & Erdem has been recognized as Top Tier...
Turkey ratified the Convention on the Contract for International Carriage of Goods by Road (“CMR”) in accordance with Act No. 3939 dated 7 December 1993, and the CMR entered into force in Turkey on 31 October 1995. In accordance with Article 1 / 1 of the CMR, the carriage of goods by road...
Erdem & Erdem: Best Infrastructure Legal Advisor, Europe (World Finance Legal Awards 2016)
World Finance interviews Prof. Dr. H. Ercüment Erdem on Public-Private Partnerships (PPPs)
Şişecam and EBRD announced the details of their cooperation in cullet recycling project during the press conference and signing ceremony in İstanbul on 28 June, 2016...
Ordinary partnerships are governed by Article 620 et seq. of the Turkish Code of Obligations No. 6098 (“TCO”). An ordinary partnership agreement is defined as an agreement whereby two or more persons undertake to join efforts and/or goods to reach a common goal...