The prohibition of determining the contract price in foreign currency or based on foreign currency is imposed for many contracts (namely, chattel and real estate sales and leasing, financial leasing, labour, service and construction agreements) that are concluded between the Turkish residents, with 13/9/2018 dated and 85 numbered “the Decree on the Amendment of 32 numbered Decree regarding the Protection of Turkish Currency” (“Presidential Decree”). Under this new regulation, the necessary of amendment of the contract price converted into Turkish currency is needed for the contracts in the scope of the prohibition. At this point, a stamp tax problem occurs for the amended contracts.

The Regulation on Amending the Regulation on Short-time Working and Short-time Working Allowance entered into force upon having been published in the Official Gazette No. 30590, dated 09.11.2018.

This regulation contains the amendments made to the Regulation on Short-time Working and Short-time Working Allowance, which entered into force upon having been published in the Official Gazette No. 27920, dated 30.04.2011. The relevant regulation has been prepared on the basis of the below detailed Additional Article 2 of the Unemployment Insurance Law No. 4447.

According to the Art. 18 of the Social Security and General Health Insurance Law, benefit for temporary incapacity is given by the Social Security Institution (“SSI”) to the 4/a or 4/b insured employees with the provision of receiving sick leave report from doctors or health committees authorized by the SSI. Also in the 6th clause of the same article states that: “Benefits for temporary incapacity is paid in the name of the Institution, by the workplaces concluded collective labor agreement and employers of public administrations, to the insurant in accordance with the procedure and principles determined by the Institution, and afterwards shall be collected via net off with the Institution”. It is provided with the 2016/21 numbered Circular that not only the workplaces that conclude collective labor agreements and public administrations but also all workplaces that demand, shall benefit from this practice.

On the 30597 numbered Official Gazette dated of 16/11/2018, a new Communique has been announced by the Ministry of Treasury and Finance. The Communique numbered 2018-32/52 is related to the previously announced 2008-32/34 numbered Communique and the revision of Article 8 of the relevant Communique based on the Amendment of the Decree No.32 on Protection of the Value of Turkish Monetary Currency.

From a broad perspective, the application of the regulations based on the Decree and the relevant Communiques have not been impacted, whereas the exemptions have been elaborated further. Below we have outlined the amendments on the Article 8, announced by the Communique on the date of November 16, 2018.

You can access our previous publication on the Communique by clicking here.