As is known, the default interest rate announced every January by the T.R. Central Bank has been applied in case there is no default interest rate is determined in a contract or related clause is invalid regarding the good or service supply, according to the clause 7 of the Art. 1530 of the Turkish Commercial Code.

• Income Tax Exempted Food Allowance
• Disablement Degree Discount
• Income Tax Brackets of 2019
• Stamp Tax Rate

7155 numbered the “Law on Initiating an Execution Process Regarding the Pecuniary Claims Arising from Subscription Agreements” (the “Law”) has published in the Official Gazette on December 19th, 2018. The Law hereby, aims to determine the procedure and principles of carrying out the execution proceedings (without judgement) through levy for the pecuniary claims arising from subscription agreements by initiating the process on Central Follow-up System on UYAP until the distraint phase.

“Resolution on Making Amendments in the Resolution Regarding Determination of the VAT Rates to Be Implemented on Goods and Services” (“Presidential Decree” numbered 475) has been published on 19.12.2018, Official Gazette numbered 30630.

According to the related law, sales of newspapers and magazines online, and deliveries of e-newspaper and e-magazine readers, tablets and counterparts shall be subject to %18 VAT. The effective date of the resolution has been determined as 01.01.2019.