Steel hollow section, a kind of iron-steel product that Turkey exports to UK, have had an export quota of 32.387 tons between January 1st, 2021 and March 31st, 2021. Due to this imposing that results in restrictions in amounts and/or value in exportation, Turkey has reached its export quota limit as of the date of…
PDPA Announcement on WhatsApp WhatsApp Hakkında KVKK Duyurusu On 12.01.2021, Personal Data Protection Authority (“PDPA”) has published a public announcement on its website regarding the policy of Whatsapp application. Aforementioned announcement briefly covers the following: The conditions for processing the personal data have been regulated in Article 5 of Personal Data Protection Law No.6698…
The Communiqué on Valuable House Tax Değerli Konut Vergisi Tebliği The “General Communiqué for the Implementation of Valuable House Tax” was published on the Official Gazette dated 15.01.2021. The valuable house tax will be imposed on the houseowners whose properties’ tax value exceeds 5 million 250 thousand Turkish Liras. The accrued valuable house taxes…
The Regulation on Natural Gas Futures Market Vadeli Doğal Gaz Piyasasına İlişkin Düzenleme “The Regulation Amending the Organized Natural Gas Wholesale Market Regulation” was published on the Official Gazette dated 12.01.2021. According to the concerned regulation; the market participants who would like to carry transactions in the natural gas futures market, shall sign the…
Provisions on the obligation of keeping commercial books, issuance of share certificate, transfer of share certificates in the Turkish Commercial Code (“TCC”) have been amended with the Law No. 7262 on Preventing the Financing of the Propagation of Weapons of Mass Destruction, published in the Official Gazette dated December 31, 2020. 1. Keeping share ledger,…
e-Mining Application Update e-Maden Uygulaması Güncellemesi Pursuant to the announcement dated 06.01.2021 of the General Directorate of Mining and Petroleum Affairs (“General Directorate”); State rights, business license fees, environmental compliance fees/securities that have been deposited to the General Directorate can be viewed by the license owners on e-Government Gateway through e-Mining application on Financial…
As it can be recalled, as of January 31st, 2020, the United Kingdom (“UK”) will exit the European Union and with the end of the transition period that commenced after Brexit on December 31st, any agreements and regulations between the EU and the UK will also be invalid. As of December 24, 2020, an agreement…
Central Bank Default Interest Rate for 2021 2021 Yılı Merkez Bankası Temerrüt Faizi Oranı Pursuant to the Communiqué No. 31352 issued by Central Bank of the Republic of Turkey (“Central Bank”) published on Official Gazette dated 02.01.2021, the default interest rate of 2021 for the procurement of goods and services has been determined. According…
Amendment on the Implementation of Article 376 of the TCC TTK’nın 376. Maddesinin Uygulamasında Yapılan Değişiklik “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’)” was published on Official Gazette dated 26.12.2020 Pursuant to this Communiqué, the…
