Legislation

COTTGROUP

17September2018

NEW GUIDELINES ON SUBMITTING CASH REGISTER FINANCIAL REPORTS TO THE AUTHORITY VIA ONLINE

As per to the Article 4 of The General Communiqué Sequence Number: 483 of Tax Procedure Law, published in the Official Gazette dated 30.09.2017, the fiscal information regarding day end Z-reports obtained on daily basis from the old and new generation cash registers (except for users of cash registers with mobile EFT-POS features) should be submitted to the Turkish Revenue Administration as from 01.10.2018.

Written by Selma Kıy, Posted in Taxation Law

13September2018

NEW LAW HAS BEEN ANNOUNCED ON PROHIBITING PARTIES LOCATED IN TURKEY TO SIGN FOREING CURRENCY BASED CONTRACTS

On the Official Gazette numbered 30534 dated 13.9.2018, it has been announced with the Presidential Decree numbered 85 to make amendments on the recently announced Decree Law numbered 32 “the Protection of the Turkish Currency”.

According to the newly announced Decree, the below shall be applicable starting as of 13/9/2018:

  • It is prohibited to have foreign currency-based contracts or contracts with foreign currency payment duties for the parties which are located within the borders of Turkey in relation to all types of property and real estate purchase, sale and lease agreements, vehicle purchase / sale and lease agreements, service, employment and similar agreements. The clause is applicable to all local parties in Turkey unless the party is announced to have certain exception by the relevant authority.
  • As of the date this Law is in force (Sept, 13), within 30 days all the rates, values, prices which are to be agreed on foreign currency, shall be adjusted with Turkish currency (TRY) fees. The clause is applicable to all local parties in Turkey, unless the party is announced to have certain exception by the relevant authority.

Written by Selim Tankut Akdağ, Posted in Social Security Law and Regulations, Taxation Law, The New Turkish Commercial Code

11September2018

RECENT DEVELOPMENTS TO PROTECT THE VALUE OF TURKISH CURRENCY

In the Communique No. 2018 – 32 / 48 on the Decree No. 32 on the Protection of the Value of Turkish Currency, which entered into force through its publication in the Official Gazette No. 30525 dated 04.09.2018, the procedures and principles have been determined to be applied for bringing into Turkey the export proceeds that will arise from the export transactions performed by Turkish residents.

Written by Selma Kıy, Posted in Taxation Law

04September2018

REGISTRATION DEADLINES TO THE REGISTRY OF DATA CONTROLLERS HAS BEEN ANNOUNCED

Within the scope of the Personal Data Protection Law numbered 6698 which has been announced in the 29677 Numbered Official Gazette dated 24.06.2016, it is highly crucial for the real and corporate bodies to meet all the legal compliancy requirements in dealing with the personal data that they; receive, use, issue, process to avoid the administrative penalty fines and possible incompliancy sanctions.

Written by Suzan Tepe, Posted in Personal Data Protection Law, Labour Law

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