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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
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...
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...
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...
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...
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...
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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...
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...
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...
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...
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...
Authors: Sevgi Ünsal Özden, Gülnur Çakmak, Melis Uslu
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...
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 relevant general communiqués published in the Official Gazette dated 30 December 2022 and No. 32059 (2nd 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...
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...
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...
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...
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...
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...
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...
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...
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...
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 30th.
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...
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 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...
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 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...
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...
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...
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 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...
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 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...
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...
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 8th, 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 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...
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 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...
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 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 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...
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-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...
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...
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...
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...
“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...
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...
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...
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...
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...
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...
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...
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 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 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...
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...
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...
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...
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...
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 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...
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...
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 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 Regulation on Environmental Impact Assessment entered into force through publication in the Official Gazette dated 29.07.2022 and numbered 31907...
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...
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...
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...
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...
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...
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...
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...
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...
Through the promulgation of Presidential Decision No. 5806 (“Decision”), published in the Official Gazette dated 21st July 2022 and No. 31899...
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 5th July 2022 and no. 31887, new Wealth Amnesty has been introduced.
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 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...
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 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 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...
Through the promulgation of the President Decision No. 5752 published in the Official Gazette dated 28th 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 28th June 2022 and no. 31880, significant amendments were made to the rules applied in tax inspections...
Global Arbitration Review (GAR) hosted its eighth annual GAR Live: Istanbul Conference on June 23, 2022, at Ciragan Palace Kempinski...
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 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...
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”)...
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...
You can watch the recording of "Current Problems in Arbitration - IV" webinar here... (in Turkish)
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 28th 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 “5th Judicial Package”...
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...
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 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...
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...
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 "Competition Law Contest", organized with the cooperation of ELSA Adana and ELSA Istanbul, was held in Istanbul on 23-24 April 2022...
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...
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...
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...
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...
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...
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 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...
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...
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...
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...
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...
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...
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...
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 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...
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 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...
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 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.
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...
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...
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...
We are proud of announcing that Sevgi Ünsal Özden was promoted to Managing Associate, as of January 1, 2022.
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...
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...
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...
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...
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...
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...
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...
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...
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...
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 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...
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...
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
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...
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
The Law No. 7338 on the Amendment of Tax Procedural Law and Certain Other Laws Has Entered Into Force
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 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)
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 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
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 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
We are very proud to announce that Alper Uzun has been promoted as Partner, 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 Canan Doksat has been promoted as Managing Associate, as of July 1, 2021...
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...
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...
Significant Amendments are Introduced to the Enforcement and Bankruptcy Law
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
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.
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...
Cheque Submission Periods were Postponed
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
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
United States of America decided to impose sanctions against the Russian Federation
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
Regulation on Not Using Crypto Assets in Payments is published
Competition Board's Investigation against Google concluded
Social Security Institution Introduced New Codes for Termination
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)
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
You can watch the “Obstacles Faced by Start-ups” webinar here... (in Turkish)
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...
The Regulation on Prevention Plans to be Prepared by Systemically Important Banks is published
The Amendments on the Circular on Capital Movements
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 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
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...
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
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 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...
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
Significant Amendments on the Electricity Market Balancing and Settlement Regulation and Electricity Market Consumer Services Regulation
Second Extension of the Period Designated for Submission of the First Country by Country Report
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
Withholding Rate of Long-term Construction and Repair Business was increased
Tax Regulations Regarding Technopolis and R&D Centers
Amendments to the Provisions of the Turkish Commercial Code
SCT Rates on Electric Cars were increased
The Competition Board Rejected the Request for Exemption to the Agreement Between Johnson & Johnson and Pharmaceutical Warehouses
Amendments to the Renewable Energy Resources Support Mechanism
The Communiqué (No: 2008-32/34) on Decree No. 32 has been changed
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
Competition Board initiated an Investigation against Facebook and Whatsapp
The Communiqué on the Procedures and Principles Regarding Valuable House Tax was published
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 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
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 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
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.
The law amendment concerning regulations in the natural gas, electricity, renewables and mining has entered into force
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
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...
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
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...
New Taxation Rules were introduced for Share Buybacks
Provisions on Restructuring of Public Receivables of the Law No. 7256 entered into force
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
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
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”).
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...
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.
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”).
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.
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.
Panel on Emergency Arbitrator of Arbitration School organised by Marmara University Faculty of Law International Private Law Department and the Istanbul Arbitration Center (ISTAC), was held as live broadcast on Arbitration School’s Youtube Channel on May 13, 2020...
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.
A webinar on international arbitration during COVID-19, organised by the Law Academy and the Istanbul Arbitration Association (ISTA), was held on Thursday, May 7, 2020. At the webinar, which was broadcasted live from the social media accounts of ISTA and the Law Academy simultaneously, Vice Chairman...
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.
Since 2006, the Institute of Social Sciences at Istanbul Bilgi University, offers the Practical Competition Law Seminars within the framework of Law Master’s program. This year, the program which aims to provide information on Turkish and comparative competition law practice and shed light on current problems...
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.128 (“Circular”) published on 20th April 2020;
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.
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...
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.
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.
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.
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.
The Energy Market Regulatory Authority (EMRA) published an announcement on 03.04.2020 within the scope of the measures taken against COVID-19 outbreak.
While we are washing hands, what is happening in the World of Competition Law
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.
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”).
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”).
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.
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;
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.
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").
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 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.
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.
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.
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.
3rd session of the panel series on “Complex Arbitrations” organized by ICC Young Arbitrators Forum (ICC YAF) was held on the 3rd of March at Ferko Signature with the sponsorship of Erdem & Erdem. The Panel attended by young arbitration practitioners aged 40 and under, focused on Article 7 to 10 of...
TÜSİAD Gulf Network Study Group has organized and attended a series of meetings in Dubai, aiming to enhance bilateral economic relations with the region and to promote trade and investment to/from Turkey. TÜSİAD Gulf Network Launch was held in Dubai at Burj Al Arab Hotel on 2nd of March. In this context...
ICC Turkish Arbitration Day 2020 was held on 24 January 2020 at Fairmont Quasar Istanbul Hotel. The conference, which aims to contribute to the development of international commercial and investment arbitration in Turkey and to promote Istanbul as a place for arbitration and alternative dispute resolution, was...
Authors: Prof. Dr. H. Ercüment Erdem, Özgür Kocabaşoğlu
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 the Incoterms rules is to contribute to and facilitate the safe and swift conduct of international trade...