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Legislation - CottGroup Holistic Business Services

04April2022

The Law on the Amendment of the Law on Consumer Protection and the Property Ownership Law Has Been Published

The Law on the Amendment of the Law on Consumer Protection and the Property Ownership Law entered into force after being published in the Official Gazette dated April 1, 2022 and numbered 31796. The changes are briefly as follows:

  • In consumer loans, in case of early payment of the entire loan debt within the right of withdrawal period, the provisions of the right of withdrawal can be applied without any notification.
  • It will be obligatory to deliver the prepaid house to the consumer within the time period committed in the contract. In any case, this period cannot exceed 48 months from the date of the contract.
  • Prepaid timeshare vacation contracts cannot be established with consumers, including contracts granting timeshare rights.
  • Without the prejudice to the rights of the parties in the Bankruptcy and Enforcement Law (In Turkish); in disputes with a value of less than 30,000 Turkish Liras, it will be mandatory to apply to consumer arbitration committees.

Written by Ece Nur Karakaş, Posted in Turkish Commercial Code

01April2022

VAT Rates for Some Goods and Services Delivery Updated

With the Presidential Decision numbered 5359 published in the Official Gazette dated March 29, 2022 and numbered 31793, some amendments have been made on VAT rates in the lists I and II, effective as of April 1, 2022.

The amendments can be listed below:

Written by Selma Kıy, Posted in Taxation Law

23March2022

Amendment Made in the Support Program for Investments in Technological Products

Regulation Amending to the Regulation on the Technological Product Investment Support Program ("Regulation") (In Turkish) has been published in the Official Gazette dated 22 March 2022 and numbered 31786 by the Ministry of Industry and Technology. The purpose of the Regulation is to increase government support for technological investments. Assessment Commission ("Commission") will evaluate and decide support appeal.

The highlights of the Regulation are briefly as follows:

Written by Ece Nur Karakaş, Posted in Turkish Commercial Code

22March2022

Amendment to the Regulation on the Jewelry Trade

What Does Regulation on the Jewelry Trade Regulate?

Jewelry trading activities of legal entity or natural person merchants, artisans and craftsmans; procedures and principles about granting, renewing and cancelling of the competence certificate; principles, rules and obligations regarding the jewelry trade; the duties, authorities and responsibilities of the Ministry of Trade, authorized administrations and other relevant institutions and organizations regarding the jewelry trade has been arranged in the Regulation.

What are the Innovations Made at the Regulation Amendmenting to the Regulation on the Jewelry Trade?

Written by Ece Nur Karakaş, Posted in Turkish Commercial Code

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