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Legislation - CottGroup Holistic Business Services


Obligation of Exchanging Portion of the Export Prices to the Banks Has Been Raised up to 40%

With the instruction dated 15.04.2022 of the Ministry of Treasury and Finance, at least 40% of the export price, which are assigned to EPCA or FEPC, is now mandatory to sell to the bank which regulates the IBKB or DAB from 18.04.2022

These transfers are being sold to the CBT within the same day by the Central Bank of the Republic of Turkey based on the buying rate of exchange which are announced by CBT on the transaction date. The relevant transfer will be paid to the exporter in Turkish Lira.

Written by Selma Kıy, Posted in Taxation Law


Deadline of Annual Operating Statement is 05.05.2022

According to the 2nd Article of Industrial Registry Law No. 6948 (In Turkish), industrial businesses must be registered to industrial registry and receive a registration certificate.

Companies, which have industrial registry certificate, are required to declare their "Annual Operating Statements" within the first four months of every year.

Annual operating statements shall be submitted on The Ministry of Industry and Technology's website (In Turkish), from the section "Industrial Registry Information System", which can be found under the "E-Services" menu.

Written by Selma Kıy, Posted in Taxation Law


Administrative Sanctions Has Started Implementing by Turkish DPA for Data Controllers Who Are Not Registered VERBIS

As it is known, Art. 16 of the Turkish Data Protection Law ("KVKK") numbered 6698 states that "Natural and legal persons who process personal data shall register with the Data Controllers Registry prior to the start of data processing" and with the provision "Data controllers are obliged to register Data Controllers’ Registry Information System ("VERBIS") within the period determined and announced by the Authority" provision is included.

Written by Ece Nur Karakaş, Posted in Personal Data Protection Law


Turkish Constitutional Court Considered Fingerprint Tracking a Violation of Rights

In the event, which is the subject of the Turkish Constitutional Court with application No. 2018/11988 and decision dated 10.03.2022, the Applicant works as a civil servant within the Municipality of Söke ("Municipality"). Working hours in the Municipality are tracked by fingerprint system. Despite the Applicant's objections, the case has been brought to the court of first instance, as the fingerprints continued to be taken by the Municipality.

The court of first instance decided to annul the administrative act with the acceptance of the case. In the reasoning of the decision, it is stated that the controlling of employee's working hours by fingerprint scanning system should be evaluated within the scope of the processing of personal data within the scope of the right to respect of private life, by referring to the relevant legislation. The court of first instance also stated that there is no detailed legal regulation regarding the tracking of working hours of civil servants, and that having a legal basis for restriction of fundamental rights is a constitutional obligation and at the same time one of the basic principles in the European Convention on Human Rights.

Written by Ece Nur Karakaş, Posted in Personal Data Protection Law

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