01 June 2020
GOVERNMENT RAISES TAX ON FOREIGN CURRENCY PURCHASES FROM 0.2% TO 1%:
Effective from the date of publication of the decree, the BITT rate will be increased from 0.2% to 1%
28 May 2020
DEADLINES FOR THE CENTRALIZED COMMERCIAL MESSAGE MANAGEMENT SYSTEM ARE EXTENDED:
The Ministry of Commerce extended the deadline for registering the opt-in consents of recipients with IYS until 31 August 2020 with an announcement on the Ministry’s website on 23 May 2020. Accordingly, the recipients will need to check the opt-in consents registered in their names by 1 December 2020.
21 May 2020
GOVERNMENT PUBLISHES EXCEPTIONS TO RESTRICTIONS ON DISTRIBUTION OF PROFITS:
Exceptions to restrictions on companies’ distribution of their net profits in 2019 was published in the Official Gazette on 17 May 2020 through the Communiqué on the Principles and Procedures of Implementation of the Temporary Article 13 of the Turkish Commercial Code and entered into force the same day.
13 May 2020
MAJOR REVISIONS INTRODUCED TO TURKISH INSURANCE PRACTICE: EXTENSION OF THE RIGHT TO ACT AS INSURANCE BROKERS AND THE SCOPE OF ELECTRONIC PLATFORMS:
11 May 2020
WHAT IS MANIPULATION AND MISLEADING TRANSACTIONS IN FINANCIAL MARKETS: THE TURKISH BANKING REGULATION AND SUPERVISION AGENCY PROVIDED A LIST.:
10 May 2020
GOVERNMENT AID TO PRIVATE THEATRE PROJECTS ARE REVISED:
05 May 2020
NEW GENERAL AVIATION REGULATION (SHY-6B) ENTERS INTO FORCE :
30 April 2020
SUSPENSION OF THE PROCEDURAL DEADLINES NOW EXTENDED TO 15 JUNE 2020 :
A further precaution has been implemented in the judiciary system in relation to the COVID-19 disease.
22 April 2020
NEW LAW PROHIBITS TERMINATION OF EMPLOYMENT AND ALLOWS MANDATORY UNPAID LEAVE AND FINANCIAL AID:
The Omnibus Law provides a prohibition on termination of employment contracts for a certain period as well as setting out mandatory unpaid leave and financial aid for employees.
17 April 2020
LEGISLATIVE PROPOSAL PASSES PARLIAMENT: PROFIT DISTRIBUTIONS BY COMPANIES ARE NOW RESTRICTED:
The Omnibus Law provides for a temporary article to be inserted into the Turkish Commercial Code no. 6102, setting out restrictions on companies’ distribution of their net profits in 2019. Accordingly, cash profit distribution of companies cannot exceed 25% of their net profits belonging to 2019.
corporate, railway, finance, e-commerce, regulation, petroleum, istanbul, foreign awards, national markers, arbitration, energy, advance dividends, natural resources, letter of guarantee, interim dividends
June 2020
Coronavirus: COVID-19 INSIGHTS: OUR LEGAL GUIDANCE FOR BUSINESSES
Client Alert: GOVERNMENT RAISES TAX ON FOREIGN CURRENCY PURCHASES FROM 0.2% TO 1%
May 2020
Client Alert: DEADLINES FOR THE CENTRALIZED COMMERCIAL MESSAGE MANAGEMENT SYSTEM ARE EXTENDED
Client Alert: GOVERNMENT PUBLISHES EXCEPTIONS TO RESTRICTIONS ON DISTRIBUTION OF PROFITS
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