3 Apr 2018
Turkey has established an Executive Board on Localization (“Board”) to carry out projects which reduce import dependency and extend the country’s competitive industrial power. The Board’s aim is to develop Turkey’s domestic industry, integrated with international markets, as well […]
30 Mar 2018
Turkey had made a range of changes to streamline transport-related applications and improve road safety. These changes introduce online applications, as well as reduce the fees and document requirements for obtaining authorization certificates. The Road Transport Regulation (“Regulation”) was […]
29 Mar 2018
The threshold used by banks in Turkey to determine credit limits for auto loans, loans secured by vehicles and financial leasing has increased from 50,000 to 100,000 Turkish Liras. The amendment will likely mean reductions in advance payments for […]
15 Mar 2018
Turkey has published further rules for acquiring a “green certificate” for buildings. The latest developments address establishment of evaluation bodies and documentation systems. The voluntary certification scheme supports reductions to adverse environmental impacts of buildings and settlements by encouraging […]
22 Feb 2018
Turkey has made a series of amendments to its VAT regime, introducing new liabilities, as well as exemptions. Notably, VAT will now apply to services provided to parties outside Turkey in the electronic environment. New exemptions have been introduced […]
9 Feb 2018
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 for goods and services, the same rate as used in 2017. The minimum compensation amount which […]
8 Feb 2018
In certain circumstances, recipients of the administrative fines can now request reconciliation of administrative fines imposed by governorships or the Ministry of Customs and Trade. Newly established Reconciliation Commissions will evaluate these requests, potentially resulting in administrative fines being […]
7 Feb 2018
Turkey’s Council of Ministers has now ratified the Convention on Mutual Administrative Assistance in Tax Matters (“Convention”), subject to several exclusions. The Convention involves Council of Europe and OECD member states. Its primary purpose is for signatories to exchange […]
25 Jan 2018
Turkey has updated the regulatory regime for packaging and waste, including significant new rules regarding waste collection and recycling. Most notably, free plastic bags will be banned from the beginning of 2019 and packaging used in the Turkish market […]
10 Jan 2018
Turkey has updated rules for Organized Industrial Zones Specialized in Agriculture (“Agriculture Zones”). Changes apply to principles and procedures for projects, applications, zoning plans, activities, operations and audits of Agricultural Zones. They also include increased details for determining and […]
