20 Sep 2018
Turkey has introduced new contract rules, intended to protect the national currency’s value. From 13 September 2018, certain agreements between parties which are both located in Turkey can only be made in Turkish Lira. Contracts entered before 13 September […]
16 Aug 2018
Turkey’s Central Bank has increased interest rates applied to rediscount transactions for promissory notes, as well as advance transactions. According to the changes: The discount interest rate applied to rediscount transactions for promissory notes with a maximum three-month term […]
30 Jun 2018
Turkey has introduced clarified rules for transporting dangerous goods by air. These rules apply to local operators, as well as foreign operators using Turkish airspace. The rules address certification, reporting and labelling requirements for transporting such goods. The Regulation […]
13 Jun 2018
Turkey has announced a range of amendments to the tax regime, as well as new VAT exemptions. A new tax base calculation is introduced for sale of secondhand vehicles and immovable property. Time limits are also introduced where sellers […]
30 May 2018
Turkey’s Constitutional Court recently dismissed an application seeking to cancel 13 articles of the Law Amending the Electricity Market Law and Certain Other Laws numbered 6719, dated 4 June 2016 (“Amendment Law”). 130 deputies and several first instance courts […]
24 May 2018
Turkey’s Public Oversight, Accounting and Auditing Standards Authority has updated a range of Financial Reporting Standards and Accounting Standards, as well as Interpretations on Financial Reporting Standards. The updated Financial Reporting Standards are below. The updated Accounting Standards are […]
17 May 2018
Turkey has introduced a range of changes to its tax regime, applying to the Income Tax Law and Tax Procedure Law. Changes apply to a wide range of topics, including severance payments, the minimum wage, valuing foreign currencies brought […]
17 May 2018
Turkey’s Public Oversight, Accounting and Auditing Standards Authority has updated a range of Independent Auditing Standards. The updates cover a wide range of topics, ranging from general audit objectives through to detailed aspects of auditing activities. The updated Independent […]
16 May 2018
Turkey has revised rules for executing mortgage deeds, meaning that credit institutions and agricultural credit cooperatives can now conclude mortgage contracts without being required to execute the mortgage deed in person before the title deed registry. Furthermore, parties are […]
10 May 2018
Turkey’s Ministry of Food, Agriculture and Livestock (“Ministry”) recently announced a new regulatory regime for planning, use and oversight of cultivated areas. These include establishing provincial Soil Protection Boards, as well as introducing rules to soil conservation plans and […]
