30 June 2020 Presidential Decision on Extension of Short Term Working Allowance Has Been Published.


The Presidential Decision No. 2706 (“Decision”) on the extension of the short-term working allowance for workplaces for which short-term working allowance is implemented due to the compelling reason within the scope of periodic conditions faced due to external effects arising from Covid-19 pandemic…
 

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12 June 2020 NOTAM On Covid-19 Flight Restrictions Dated 11 June 2020 Has Been Published By The Directorate General Of Civil Aviation.


The new Notam On Covid-19 Flight Restrictions for Turkish Aerodroms (“NOTAM”) has been entered into force on 11 June 2020 via being published by the Directorate General of Civil Aviation (“SHGM”). As per to the NOTAM, as of June 11, 2020, 20:59 Utc, all flights to and from Turkish airports shall be…
 

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30 April 2020 Circular on Cargo Transport at Passenger Cabin of Passenger Planes is Published.


The Circular on Cargo Transport at Passenger Cabin of Passenger Planes (the “Circular”) dated 29 April 2020 and numbered UOD-2020/2G is published by the General Directorate of Civil Aviation to determine the requirements for carrying cargo at the passenger cabin of passenger planes, both in terms of…
 

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29 April 2020 Amendments made on "SHY-6B General Aviation Regulation"


The new “SHY-6B General Aviation Regulation” (“Regulation”), which regulates the procedures and principles regarding the licensing of general aviation operators, has been entered into force by being published at the Official Gazette dated 24.04.2020 and numbered 31108, and the former SHY-6B General…
 

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21 April 2020 POSTPONEMENTS OF TAX OBLIGATIONS


Pursuant to the General Communiqué No. 518 on Tax Procedure Law published at the Official Gazette dated 24 March 2020 (the “Communiqué”), it was decided to postpone the submission period of Concise Declarations (including Concise and Premium Service Declarations) and Value Added Tax Declarations and…
 

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17 April 2020 THE IMPACT ON EMPLOYMENT AGREEMENTS OF THE OMNIBUS LAW WHICH HAS BEEN ENTERED INTO FORCE WITHIN THE SCOPE OF MINIMIZATION OF THE ECONOMIC AND SOCIAL EFFECTS OF THE NEW CORONAVIRUS (COVID-19) EPIDEMIC


While the Covid-19 (Coronavirus) epidemic affects business and commercial life in many ways, the number of people exposed to these effects of the epidemic is increasing day by day. It is seen that the effects of the epidemic in economic life are mostly reflected on the relations between the employer…
 

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17 April 2020 COVID-19 (Coronavirus) Limitation of Dividend Distribution for Capital Companies


By virtue of Article 12 of the Law numbered 7244 on Minimization of the Economic and Social Effects of the New Coronavirus (Covid-19) Epidemic and Amendments Made on Certain Laws published in the Official Gazette dated 17 April 2020 and numbered 31102 (the “Omnibus Law”), a provisional article has b…
 

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04 January 2020 COLLECTION OF TAXES THROUGH BANKS AS OF 1 JANUARY 2020


The announcement that made certain changes on tax collection protocols of the banks based on the authority vested to the Ministry of Treasury and Finance as per Article 41 of Law No. 6183 on the Procedures of Collection of Public Receivables (the “Announcement”) has been published on the website of…
 

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25 December 2019 AMENDMENTS TO DEBT ASSUMPTION REGULATION ALLOWING 100% ASSUMPTION OF SENIOR LOAN IN ALL TERMINATION CASES


Regulation Amending the Regulation on Debt Assumption by The Undersecretariat of Treasury has been published on the Official Gazette dated 25 December 2019 and numbered 30989 (“Amendment Regulation”). The Amendment Regulation introduced certain significant changes in debt assumption principles gover…
 

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22 October 2019 CONSTITUTIONAL COURT DECISION ON RESTRICTION OF SUB-CONTRACTOR’S LIABILITY


Labor Law No. 4857 (“Labor Law”) provides for joint liability of the main employer and sub-contractor for labilities of the sub-contractor to the employees, arising from Labor Law, employment contracts and/or collective labor agreements that the sub-contractor is a party to.  Severance pay is one of…
 

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17 October 2019 REGULATIONS ISSUED BY HALAL ACCREDITATION INSTITUTION


Halal products and their certification are relevant in terms of a wide range of sectors such as food and beverage, finance, textile and cosmetics. Despite the extensive demand for halal products, there is no standardization for certification of halal products around the world.  Different standards a…
 

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15 October 2019 US EXECUTIVE ORDER


Donald J Trump, as the president of United States has issued an executive order on 14.10.2019 (the “Executive Order”) in response to Turkish government’s recent actions in Syria. The Executive Order sets out the framework of the sanctions while authorizing the US Secretary of the Treasury and the U…
 

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08 October 2019 The Communique On Equity Based Crowd Funding


The Communique On Equity Based Crowd Funding One of the key hurdles that entrepreneurs who start-up a new business or develop a new product/technology is procurement of financing.  In traditional processes, entrepreneurs approach to rather limited sources such as banks, angel investors, for financi…
 

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03 May 2019 The “Legitimate Interest” within the Scope of the Personal Data Protection Authority Decision


Personal Data Protection Authority (the “Authority”) continues to clarify the rapidly developing process of harmonization with the Law on the Protection of Personal Data numbered 6698 (the “Law”) with recent decisions. On 16 April 2019, the Authority published a decision dated 25 March 2019, numbere…
 

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21 January 2019 Consumer Price Index Applicable in Rent Increase Rates


On 18 January 2019 the Law to Amend the Tax Laws and Several Laws and Decrees Having the Force of Law numbered 7161 ("Omnibus Act") changed the cap on increases in lease rates for residences and roofed workplaces. Accordingly, the cap stipulated under the Turkish Code of Obligations numbered 6098 wi…
 

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23 November 2018 Stamp Tax on Contracts To Be Converted To Turkish Lira Currency


Presidential Decree No: 85 introduced certain restrictions in the use of foreign currency in contracts by introducing new terms to the Decree No: 32 On Protection of the Value of the Turkish Lira.  Contracts which fall within the scope of the restrictions, however which have been denominated or inde…
 

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19 November 2018 Mandatory Mediation For Commercial Disputes


According to the Law on the Procedures to Initiate Debt Collection Proceedings for Receivables Arising out of Subscription Agreements No. 7155 ("Law"), which was published in the Official Gazette on 19 November 2018, it mandatory to apply to mediation before filing commercial lawsuits claiming recei…
 

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06 October 2018 Exceptions To Foreign Currency Restrictions In Contracts


On 6 October 2018, communique numbered 2018-32/51 was published in the Official Gazette (“Communique No: 32/51”).Communique No 32/51 re-regulates the abolished provisional article 8 of the Communique (No: 2008-32/34) on the Decree No: 32. Communique No:32/51 regulates the exceptions to the restricti…
 

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17 September 2018 Fx Lossess May Be Left Out While Determining Whether An Entity Is Technically Bankrupt Or Not


Communique on principles and procedures of implementation of Article 376 of the Turkish Commercial Code has been announced in the Official Gazette dated 15 September 2018 (“New Communique”). Article 376 of the Turkish Commercial Code, regulates the cases of loss of capital and statutory reserves and…
 

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13 September 2018 Foreign Currency Restrictions In Contracts


On 13 September 2018, the Decree of President of Republic No: 85 was published in the Official Gazette (“Presidential Decree No: 85”).  Presidential Decree No: 85 introduced certain restrictions in the use of foreign currency in contracts by introducing new terms to the Decree No: 32 On Protection o…
 

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