THRESHOLDS DOUBLED FOR MANDATORY INDEPENDENT AUDITS:

With the publication of the Decision on the Determination of Companies Subject to Independent Audit in the Official Gazette dated 30 November 2022; the previous decision on the same issue, which was published in 2018, is now repealed for the need to redetermine the scope of independent audit.

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.