TURKEY INCREASES THE STATUTORY ANNUAL LEGAL INTEREST RATE FROM 9% TO 24%:

Pursuant to the Presidential Decree published in the Official Gazette on 21 May 2024, the legal interest rate received a big hike from 9% to 24% effective from 1 June 2024.

THE 2012 LIABILITY LIMITS ARE REAFFIRMED BY THE ADMIRALTY COURT:

PUFFERFISH MENACE: MINISTRY TAKES ACTION!:

INCENTIVES FOR THE REJUVENATION OF THE TURKISH FLEET IS EXTENDED TO LARGER TONNAGE :

COLREG PREVAILS – TURKEY TO INTRODUCE LEGISLATION TO ENSURE SWIFT ADOPTION OF COLREG AMENDMENTS:

SIGNIFICANT CHANGES IN THE TURKISH DATA PROTECTION LAW:

On 4 March 2024, the Turkish Parliament passed a new regulation which amends several regulations including the Law on the Protection of Personal Data No. 6698 ("LPPD"). This amendment is welcomed by the market as harmonisation of LPPD with the EU General Data Protection Regulation ("GDPR") has long been expected.

SİGORTA VE REASÜRANS BROKERLERİ YÖNETMELİĞİNDE ÖNEMLİ DEĞİŞİKLİKLER YAPILDI:

Sigorta ve reasürans brokerliği alanına ilişkin düzenlemelerde önemli revizyonlar yapıldı. Değişiklikler, sektörde faaliyet gösteren ve gösterecek herkesi ilgilendiren esaslı yenilikler içeriyor.

THE CEILING FOR STAMP DUTY RAISED BY 58.46% FOR 2024:

The Turkish Revenue Administration has revised the ceiling of the stamp duty that became applicable as of 1 January 2024.

MARINE POLLUTION FINES REVISED FOR 2024:

Pursuant to Article 20 of the Turkish Environmental Code no. 2872 (“Code”), fines are imposed on vessels for causing pollution in Turkish waters through discharge of petroleum products, dirty ballast, garbage and sewage into the sea. Marine pollution fines are updated annually to adjust for inflation.

ANONİM VE LİMİTED ŞİRKETLER İÇİN ASGARİ SERMAYE ŞARTLARI CUMHURBAŞKANI KARARIYLA DEĞİŞTİRİLDİ:

Anonim ve limited şirketler için öngörülen asgari esas sermaye tutarlarının beş katına çıkarılmasına ilişkin 24/11/2023 tarihli ve 7887 sayılı Cumhurbaşkanı Kararı, 1 Ocak 2024 tarihinde yürürlüğe girecektir.