Recent Keynotes of January 2020

International Agreements

• Resolution numbered 1875 on the Approval of the Protocol on the Fifth Term Meeting of the Mixed Economic Commission between the Government of the Republic of Turkey and the Republic of Uzbekistan was published in the Official Gazette dated 25.12.2019 and numbered 30989 (bis).
• Resolution numbered 1967 on the Approval of the Memorandum of Understanding on the Simplified Customs Corridor between the Government of the Republic of Turkey and the Government of Azerbaijan was published in the Official Gazette dated 01.2020 and numbered 30996.
• Resolution numbered 1968 on the Approval of the Memorandum of Understanding on the Establishment of the OECD İstanbul Center between the Government of the Republic of Turkey and the Organization for Economic Co-operation and Development was published in the Official Gazette dated 01.2020 and numbered 30996.

Resolutions of the President

• The Resolution of the President dated 12.2019 and numbered 1947 on the Determination of Default Interest Rate Regulated under the First Paragraph of Article 51 of Law on the Procedure for the Collection of Public Receivables numbered 6183, to be Applied Separately for Each Month, As 1.6% was published in the Official Gazette dated 30.12.2019 and numbered 30994. This Resolution entered into force on 01.01.2020.
• The Resolution of the President dated 01.2020 and numbered 1994 on the Amendment to the Decision Regarding Determination of the Value Added Tax Rates to be Applied to the Goods and Services entered into force through publication in the Official Gazette dated 02.02.2020 and numbered 30996 (bis).

Legislation

• The Communiqué on the Annual Interest Rates to be Applied in Rediscount and Advance Transactions by the Central Bank of the Republic of Turkey entered into force through publication in the Official Gazette dated 12.2019 and numbered 30985.
• The Tax Procedural Law General Communique (No: 512) entered into force through publication in the Official Gazette dated 12.2019 and numbered 30987.
• The Law on the Amendment to the Expropriation Law and Certain Laws was entered into force through publication in the Official Gazette dated 12.2019 and numbered 30988.
• The Regulation on the Amendment to the Regulation on the Amendment to the Regulation on the Equity of Banks was entered into force through publication in the Official Gazette dated 12.2019 and numbered 30988.
• The Regulation on the Amendment to the Regulation on the Amendment of the Regulation on the Measurement and Evaluation of Capital Adequacy of Banks entered into force through publication in the Official Gazette dated 12.2019 and numbered 30988.
• The Regulation on the Amendment to the Regulation on the Assumption of Indebtedness by the Undersecretariat of Treasury (No. 1850) entered into force through publication in the Official Gazette dated 12.2019 and numbered 30989.
• The Communiqué on the Procedures and Principles to Be Followed for Request of Overseas Notification and Rogatory was published in the Official Gazette dated 12.2019 and numbered 30990. The Communiqué entered into force on 01.01.2020.
• The General Communiqué on National Estate (No: 396) entered into force through publication in the Official Gazette dated 12.2019 and numbered 30990.
• The Regulation on the Amendment to the Planned Areas Zoning Regulation entered into force through publication in the Official Gazette dated 12.2019 and numbered 30991.
• The Inheritance and Transfer Tax Law General Communiqué (No: 51) was published in the Official Gazette dated 12.2019 and numbered 30991 (bis 2). The Communiqué entered into force on 01.01.2020.
• The Stamp Tax Law General Communiqué (No: 64) published in the Official Gazette dated 12.2019 and numbered 30991 (bis 2). The Communiqué entered into force on 01.01.2020.
• The Real Estate Tax Law General Communiqué (No: 76) was published in the Official Gazette dated 12.2019 and numbered 30991 (bis 2). The Communiqué entered into force on 01.01.2020.
• The Income Tax General Communiqué (No: 310) was published in the Official Gazette dated 12.2019 and numbered 30991 (bis 2). The Communiqué entered into force on 01.01.2020.
• The Communiqué (No: 2019/20) on the Amendment to the Communiqué on Maximum Interest Rates for Credit Card Transactions (No: 2016/8) entered into force on 01.01.2020 through publication in the Official Gazette dated 28.12.2019 and numbered 30992.
• The Customs General Communiqué (No: 6) entered into force through publication in the Official Gazette dated 30.12.2019 and numbered 30994 entered into force through publication.
• The Regulation on the Amendment to the Electricity Market License Regulation entered into force through publication in the Official Gazette dated 12.2019 and numbered 30995.
• The Communiqué on the Administrative Fines to be Imposed as per Environmental Law No. 2872 (2020/1) entered into force through publication in the Official Gazette dated 12.2019 and numbered 30995.
• The Communiqué (No: 2019-32/56) on the Amendment to the Communiqué on the Decision numbered 32 concerning the Protection of the Value of the Turkish Currency (Concerning Export Prices) (No: 2018-32/48) entered into force through publication in the Official Gazette dated 12.2019 and numbered 30995 (bis 5).
• The Decision on the Default Interest Rate to be Applied to Late Payments in the Supply of Goods and Services and the Amount of Minimum Expense to be Requested for the Collection Costs of Receivables were published in the Official Gazette dated 01.2020 and numbered 30996. The Decision entered into force on 01.01.2020.
• The National Estate General Communiqué (No: 397) was published in the Official Gazette dated 01.2020 and numbered 30997. The Communiqué entered into force on 15.01.2020.
• The Communiqué on the Principles of the Abolishment of the Privileges Regarding Voting Rights and Representation on the Board of Directors (II-28.1) entered into force through publication in the Official Gazette dated 01.2020 and numbered 31004.
• The Regulation on the Amendment to the Regulation on the Establishment and Operating Principles of Financial Leasing, Factoring and Financing Companies entered into force through publication in the Official Gazette dated 01.2020 and numbered 31008.

Rekabet Kurulu Kararları

• The Competition Board (“Board”) granted individual exemption to the frame agreement regarding fuel supply between İGA Havalimanı Akaryakıt Hizmetleri A.Ş. and Türk Hava Yolları A.O. for ten years, due to the fact that they have met all of the conditions stated in the first paragraph of Article 5 of Law No. 4054. (26.12.2019, 19-46/786-343)
• The Board granted individual exemption to the practice of publication of certain consolidated data regarding transactions realized by six brokers who operate within the Trade Association and over the counter market, for three years, due to the fact that they have met all of the conditions stated in the first paragraph of Article 5 of Law No. 4054. (26.12.2019, 19-46/785-342)
• The Board granted negative clearance within the framework of Article 8 of Law No. 4054 to the “Protocol on the Collection of Annual Radio Usage Fee in Mobile Prepaid Subscriptions,” signed between Vodafone Telekomünikasyon A.Ş., TT Mobil İletişim Hizmetleri A.Ş. and Turkcell İletişim Hizmetleri A.Ş. (26.12.2019, 19-46/785-342)

Birleşme ve Devralmalar

• The Board decided that the assignment of all the rights and obligations, arising from İGA Havalimanı Akaryakıt Hizmetleri A.Ş. Ortaklık Anlaşması, signed between CMLKK Liman İşletmesi A.Ş., Zirve Holding A.Ş., Türk Hava Yolları A.O. and Total Oil Türkiye A.Ş. (TOTAL), together with TOTAL, to Demirören Akaryakıt Sanayi ve Ticaret A.Ş., a newly founded joint stock company incorporated under the same group of companies as TOTAL (Demirören şirketler topluluğu), is not within this scope. (26.12.2019, 19-46/787-BD)
• The Board authorized the acquisition of the sole control of Eko Madencilik Sanayi İç ve Dış Tic. Ltd. Şti by SUEK AG, which is a subsidiary of Firstline Trust. (26.12.2019, 19-46/784-341)
• The Board authorized the acquisition of certain assets of SAS Autosystemtechnik GmbH & Co. KG by Faurecia SE via Faurecia Automotive GmbH from Continental Automotive GmbH. (26.12.2019, 19-46/777-336)
• The Board authorized the acquisition of the sole control of British Steel Ltd. by Jingye Group Co. Ltd. (26.12.2010, 919-46/774-335)
• The Board decided that the acquisition of certain shares of Astaldi S.p.A in ICA IC İçtaş Astaldi Üçüncü Boğaz Köprüsü ve Kuzey Marmara Otoyolu Yatırım ve İşletme A.Ş., ICA İçtaş Astaldi Adi Ortaklığı, by IC İçtaş İnşaat Sanayi ve Ticaret A.Ş., is not within this scope; the acquisition of certain shares of Astaldi S.p.A in IC İçtaş Astaldi ICA İnşaat A.Ş. and ICA Astaldi-IC İçtaş WHSD İnşaat A.Ş. (02.1.2020, 20-01/10-BD) is not subject to authorization.
• The Board authorized the merger of United Techologies Corporation's defence and space affairs with Raytheon Company, and acquisition of the sole control of Raytheon Company by United Techologies Corporation. (02.01.2020, 20-01/7-4)
• The Board authorized acquisition of the joint control of Netlog Lojistik Hizmetleri A.Ş. and D-Market Elektronik Hizmetler ve Ticaret A.Ş. via acquisition of the sole control of Abraaj Turkey Fund I, L.P., Abraaj Turkey Fund I (B), L.P. and Abraaj Turkey Fund I (S), L.P. by Franklin Resources, Inc. (09.01.2020, 20-03/32-15)
• The Board authorized the establishment of a joint venture by AMG Advanced Metallurgical Group N.V. and Shell Overseas Investments B.V. (09.01.2020, 20-03/20-10)
• The Board authorized the acquisition of the joint control of Brand Industrial Holdings, Inc. by BCP Acquisitions LLC and CDR Boston Holdings, L.P. (09.01.2020, 20-03/19-9)
• The Board authorized the transfer of OLT Offshore LNG Toscana S.p.A. to the sole control of First State Investments International Limited and Snam S.p.A. (09.01.2020, 20-03/18-8)
• The Board authorized the acquisition of the sole control of Doruk Enerji Elektrik Üretim A.Ş and Poyraz Enerji Elektrik Üretim A.Ş. by Polat Enerji Sanayi ve Ticaret A.Ş.; the acquisition of certain shares of Doğal Enerji Elektrik Üretim A.Ş. by Demirer Enerji Üretim Sanayi ve Ticaret A.Ş.,Yalçın Erol Demirer, Önder Demirer and Zeki Aybar Eriş, and the acquisition of the sole control of Doğal Enerji Elektrik Üretim A.Ş. (09.01.2020, 20-03/17-7)

Energy

• Sectoral Reports for October, 2019 was published on the official website of the Energy Market Regulatory Authority on 12.2019.