Distribution of Interim (Advance) Dividends:

The Turkish Code of Commerce (“TCC”) Art.509 on dividends provides that, while the dividends can be distributed from net period profits and free reserves

May 1st: E-Commerce Law Entered Into Force:

With reference to the Newsletter published in our website on November 2014 titled “Parliament Finally Approves E-Commerce Lawb”, the Law on Electronic Commerce (“Law”) entered into force on May 1, 2015.

Turkish Parliament Finally Takes Step to Regulate Shopping Malls and Retail Trade:

Turkey’s history of shopping malls go back as early as 1988 and the country saw a shopping mall boom since early 2000s.

The Council of Ministers Introduces Important Changes to Incentives in Certain Investments:

The Council of Ministers has implemented some changes to its decree dated June 06, 2012 regarding state incentives which will be provided to certain investments (“Decree”) through its decree published in the Official Gazette dated April 08, 2015 (“Amending Decree”).