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Legislative Updates
Here you can access most recent articles on legislative updates regarding Personal Data Protection Law, Social Security Law, Taxation Law, Occupational Health and Safety Law, Code of Obligations, Labor Law, Turkish Commercial Code, Law on Protection of the Value of Turkish Currency, Foreign Exchange Legislation, and Immigration Law in Türkiye.
Bilateral Treaties
You can access the dates of the most recent international bilateral social security and double taxation treaties made between Türkiye and other countries and relevant documents here.
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The protection of the personal data has become more of an issue day by day with the development of internet technologies and personal data stored digitally. In this manner, the Institution of Personal Data Protection (the “Institution”) is developing the national legislation and publishing additional sources for the practice to sustain both domestic information security needs and integration with the European Union.
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Category Personal Data Protection Law
7166 numbered the “Law on Amending Social Services and Some Other Laws” (the “Law”) has published in the 30694 dated Official Gazette. This Law has made some amendments on Environmental Law, Value Added Tax Law (“VATL”), Unemployment Insurance Law, Special Consumption Tax Law (“SCTL”,“ÖTVK”), Occupational Health and Safety Law and some other Laws. A new wage support incentive to the employers, some VAT and Special Consumption Tax (ÖTV) regulations are among these amendments.
Our explanations regarding some important amendments are as follows
Category Social Security Law and Legislation, Taxation Law, Occupational Health and Safety Law
The obligation of bringing export fees to Türkiye within 180 days and change 80% of this payment to a bank has been set as 6 months as of 04.09.2018, with the Communique on 32 Numbered Decree Regarding the Protection of Value of Turkish Currency (Regarding Export Prices). This duration which was to expire on 04.03.2019, has been extended to 1 year, 2019-32/53 numbered Communique published in the 30703 numbered and 03.03.2019 dated Official Gazette.
Category Law on Protection of the Value of Turkish Currency
Each year, the rent income earned by real persons are declared to the relevant tax office with the Annual Income Declaration by March 25. The income types which are acknowledged within the scope of the GMSI (real property income), other than the rent incomes, are elaborated on the Income Tax Law, Article 70.
The responsible party who is to apply the lump sum method, once the exemptions to be implemented on the tax can deduct the 15% rest of the amount to be declared under real expense. In the below table, you can refer to the details on rent income, applicable to residential and commercial properties. For further detailed information please contact your customer representative or an expert.
Category Taxation Law