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Legislation - CottGroup Holistic Business Services

17November2020

Certain Amendments Have Been Made Through Omnibus Law

New amendments have been made with the Law on Amending Certain Laws and Restructuring of Certain Debts No. 7256, dated as 11 November 2020, and published in the Official Gazette No. 31307 dated 17 November 2020.

While the definite public and certain other receivables were restructured within the scope of the mentioned Omnibus Law, a new repatriation of assets was brought. Also, amendments have been made which can affect Income Tax Law, Corporate Tax Law and Value Added Tax Law considerably.

Details on debt restructuring are as below;

  • Restructuring of receivables up to 500 billion TL, encompasses receivables before 31st August 2020.
  • Those who want to benefit restructuring can apply until the end of 2020.
  • If debts are paid in first installment, 90% of the late interest will be cancelled.
  • Within the scope of restructuring, installments will be paid in every two months and can be split into 18 months.
  • Payments regarding the Ministry of Treasury and Finance will start in January 2021.
  • Payments to be made to SSI will start in February 2021.

Written by Selma Kıy, Posted in Taxation Law

17November2020

New Regulations on Employment Incentives & Debt Structuring

New regulations came into force for employers and employees with the Law No. 7256 published in the Official Gazette, dated 17 Nov 2020, numbered 31307.

Important Points Regarding the Additional Employment Incentives as per the New Regulation

For those who benefit from unemployment benefits, long-term insurance premiums to be calculated for the period they benefit from the unemployment benefit will be covered by the Unemployment Insurance Fund, if they are employed within 90 days following their termination, work subject to uninterrupted service contract for 12 months and make a request.

The President has been authorized to extend the Employment Incentive practice of Young, Women and those with professional certificates until 31/12/2023.

The President has been authorized to extend the additional employment support in the provisional article 19 of the Unemployment Insurance Law until 31/12/2023.

The President has been authorized to extend the income tax withholding incentive and stamp tax support provided to private sector employers who provide additional employment in accordance with Law No. 7103 until 31/12/2023.

The effective date of the Tradesmen's ahi-order Fund application has been changed as 31/12/2023.

Written by Erdoğdu Onur Erol, Posted in Social Security Law and Legislation, Taxation Law

06November2020

Decisions of Istanbul Public Health Board - November 2020

Istanbul Public Health Board has announced new measures on 04.11.2020 for Covid-19.

As per these decisions, the following workplaces should be closed at 22:00, the latest:

  • Restaurants, cafes, patisseries except deliverers,
  • Coffeeshops,
  • Barbers, coiffeurs,
  • Wedding ceremony halls,
  • Sport centers,
  • Internet cafes, game centers,
  • Theatres, cinemas, concert halls,
  • Swimming pools, etc. places.

Written by Erdoğdu Onur Erol, Posted in Social Security Law and Legislation

04November2020

Sustainability of Data Protection

Data controllers are obliged to take the necessary technical and administrative measures to ensure data privacy and data security within the scope of both the Turkish Personal Data Protection Law No. 6698 ("KVKK") and the European Union General Data Protection Regulation ("GDPR") in Europe. These measures are not specified in a limited number, but they are stipulated to determine the need of data controllers for "necessity." This necessity differs for each activity.

In addition, the life cycle of personal data in the business activities of the organization changes over time. For example, a marketing activity or employee satisfaction activity may occur, which does not currently exist; an existing process may be terminated, the customer portfolio may expand from domestic to abroad, and private companies may be included into suppliers.

Written by Rabia Dağcı, Posted in Personal Data Protection Law

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Due to the Covid-19 Coronavirus pandemic to secure the health of our employees our business operations are held remotely until further notification. CottGroup® will have its business processes carried out efficiently and smoothly thanks to our BCP plans and strong technological infrastructure. As always, our customers and business partners will be able to reach us via our phones and e-mails.