7 Jan 2019
Turkey’s Constitutional Court recently ruled that refusal to register a vehicle for one year on the basis of a precautionary measure, without compensating damages, violated an applicant’s constitutional property rights. The applicant is an international transportation driver, who purchased […]
6 Dec 2018
For accounting periods beginning 1 January 2020 onwards, Turkey will apply the Conceptual Framework for Financial Reporting (“New Framework”) as revised by the International Accounting Standards Board. Changes apply to measurement, presentation and disclosure, as well as recognition and […]
6 Dec 2018
Turkey has announced new rules for its recent restrictions on foreign currency agreements, as well as extended the scope of certain exemptions (more). The latest exemptions mainly apply to sales and rental of real estate or heavy machinery. According […]
27 Nov 2018
Turkey has amended the application processes for pre-licenses and licenses within the electricity licensing regime. Accordingly, joint-stock companies which apply for such licenses can no longer issue bearer shares (except stock exchange bearer shares). The restriction must now be […]
20 Nov 2018
Turkey’s Ministry of Finance and Treasury has increased the deferment interest rate which is applied to deferred public receivables from 12% to 22%. The new interest rate will apply to applications made after 6 September 2018. For previously deferred […]
15 Nov 2018
Turkey has revised accounting principles for mergers of establishments which are subject to joint control, eliminating uncertainty about this issue and ensuring consistency in practice. The revised accounting principles apply to mergers which are performed during accounting periods beginning […]
6 Nov 2018
Turkey’s Ministry of Treasury and Finance has introduced a redemption mechanism for certain taxpayers which are subject to special VAT principles due to their past negative acts. The mechanism allows qualifying taxpayers to return to general VAT principles. Taxpayers […]
30 Oct 2018
Turkey has reduced the financial and investment thresholds required for foreigners to acquire Turkish citizenship. The new thresholds apply from 19 September 2018. The changes apply to the necessary values of fixed capital investments, immovable property purchases, workforce employment, […]
18 Oct 2018
Turkey has introduced new rules to protect the value of its currency, aimed at ensuring profits from export transactions between 4 September 2018 and 4 March 2019 are returned to Turkey. Accordingly, values received from export transactions made by […]
9 Oct 2018
Turkey has announced further details, exemptions and clarifications for recently introduced rules restricting foreign currency or foreign currency indexed payment obligations in contracts between parties residing in Turkey. These entered into force on 13 September 2018 by amending Decree […]
