Legislation

COTTGROUP

11December2018

CERTAIN REGULATIONS IN THE OMNIBUS LAW PROPOSAL DATED 30.11.2018

The “Law Proposal on Making Amendments in Certain Laws and Statutory Degrees” presented to the GNAT (Grand National Assembly of Turkey) on 30.11.2018, will make new amendments with the goals of contributing to economic growth and increasing levels of income and welfare.

Certain clauses in the law proposal, which consists of 71 articles, are as follows:

Written by Seda Arıcı, Selma Kıy, Posted in Code of Obligations, Social Security Law and Regulations, Taxation Law

11December2018

THE ELECTRONICAL ERA HAS BEGUN FOR NOTICES

As is known, the information regarding the notifications made in electronical environment is given in the Art. 7/a of 7201 numbered Notification Law amended with the 7101 numbered Law which is published in the Official Gazette on 15.03.2018; and it is mentioned in the same Law that the procedures and principles of e-notification shall be determined with a regulation. The “Electronical Notification Regulation” (the “Regulation”) is published on 06.12.2018 in the 30617 dated Official Gazette by the Ministry of Justice. You may reach the full text of the Regulation here.

Written by Seda Arıcı

06December2018

REPATRIATION OF CAPITAL APPLICATION IS EXTENDED FOR 6 MONTHS

Durations; which were stated in the clauses (a), (b), (c) and (e) of the 13th paragraph of the 10th Article that belongs to “The Law no. 7143 on Restructuring Taxational and Other Certain Debts and Amendments in Certain Laws”, published in the Recurrent Official Gazette numbered as 30611 on 30 November 2018; are extended for 6 months starting from the due dates with the Presidential Decree numbered as 405, which extends the duration for 6 months starting from the due dates of declarations of relevant assets and %2 tax payments over the declared amounts.

Posted in Social Security Law and Regulations, Taxation Law

26November2018

STAMP TAX DUTY FOR THE CONTRACTS IMPACTED BY CURRENCY PROTECTION LAW

The prohibition of determining the contract price in foreign currency or based on foreign currency is imposed for many contracts (namely, chattel and real estate sales and leasing, financial leasing, labour, service and construction agreements) that are concluded between the Turkish residents, with 13/9/2018 dated and 85 numbered “the Decree on the Amendment of 32 numbered Decree regarding the Protection of Turkish Currency” (“Presidential Decree”). Under this new regulation, the necessary of amendment of the contract price converted into Turkish currency is needed for the contracts in the scope of the prohibition. At this point, a stamp tax problem occurs for the amended contracts.

Written by Seda Arıcı, Posted in Exchange Legislation, Protection of the Value of Turkish Currency Regulations, Taxation Law

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