RULING BY THE TURKISH REVENUE ADMINISTRATION ON WHETHER A MANAGER OF A SOLE SHAREHOLDER LIMITED LIABILITY COMPANY CAN BE ENTITLED TO A FEE:
SINCE THE NEW TURKISH COMMERCIAL CODE HAS ENTERED INTO FORCE ON JULY 01, 2012, LIMITED LIABILITY COMPANIES CAN NOW BE INCORPORATED WITH A SOLE SHAREHOLDER PROVIDED AT LEAST ONE SHAREHOLDER IS AMONG THE MANAGERS OF THE COMPANY.