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Turkey Announces 2018 Default Interest Rate for Late Payments to Creditors Regarding Commercial Goods and Services
Turkey’s Central Bank has determined the default interest rate as 10.75% for late payments made to creditors in the context of commercial transactions... [Read More]
Turkey’s Constitutional Court Dismisses Legal Challenges Seeking to Strike Out Certain Clauses of the Data Protection Law
Turkey’s Constitutional Court recently dismissed an application seeking to suspend and strike out certain clauses in the Data Protection Law number 6698 (“Law”).... [Read More]
Turkey Introduces Mechanism to Request Review of Administrative Fines in Certain Circumstances
In certain circumstances, recipients of the administrative fines can now request reconciliation of administrative fines imposed by governorships or the Ministry of Customs... [Read More]
Turkey’s Council of Ministers Ratifies International Tax Assistance Convention
Turkey’s Council of Ministers has now ratified the Convention on Mutual Administrative Assistance in Tax Matters (“Convention”), subject to several exclusions. The Convention... [Read More]
Turkey Launches Crowdfunding Legislation
Turkey has introduced a new legislative regime focused on crowdfunding. It is the first time that crowdfunding structures receive specific attention from Turkish... [Read More]
Turkey Introduces Online System for Taxpayers
From 1 January 2018, certain taxpayers in Turkey can now use an electronic Bookkeeping Declaration System (“System”) to store and submit selected documents... [Read More]
Turkey Restructures Methods for Settlement with the Finance Revenue Administration For Related Party Transactions
Turkey has restructured methods for settelement with Finance Revenue Administration (“Administration”) for related party transcations. The developments widen and clarify the scope of... [Read More]
Activity Permits for Suspended Independent Audit Firms in Turkey Will Not Be Cancelled Due to Auditors Leaving
Turkey’s Public Oversight, Accounting and Auditing Standards Authority (“Authority”) has declared that if an independent audit firm has its activity permit suspended, the... [Read More]
Moroğlu Arseven and Three Partners Receive Awards from World Trademark Review in 2018
Işık Özdoğan has been ranked as a Gold Tier individual by the World Trademark Review in its 2018 WTR 1000 rankings. The World... [Read More]
Turkey to Ban Free Plastic Bags from Start of 2019
Turkey has updated the regulatory regime for packaging and waste, including significant new rules regarding waste collection and recycling. Most notably, free plastic... [Read More]
Turkey Amends Valuation Mechanism for Real Estate Tax
Unit values form the basis of real estate taxes in Turkey (duplicated article 49 of Tax Procedural Law number 213). Real estate valuations... [Read More]
Turkish Constitutional Court: Unreasoned Interim Decisions Refusing Confidentiality Request Constitutes a Violation of Right to Privacy
The Turkish Constitutional Court recently considered an individual’s request for confidentiality within a malpractice case. It ruled that a fair balance must be... [Read More]