The Regulation Prohibiting Payments with Crypto-assets (“Regulation”) that published in the Official Gazette dated April 16, 2021 and numbered 31456 will enter into force on April 30, 2021.

What is the purpose of the Regulation?

Procedures regarding the non-use of crypto-assets in payments, not using crypto-assets directly or indirectly in the provision of payment services and electronic money issuance, and the transfer of fund from payment services and electronic money institutions to platforms offering trading, custody, transfer or issuance services to crypto-assets and it is aimed to determine the principles.

According to the 2^nd Article of Industrial Registry Law No. 6948, industrial businesses must be registered to industrial registry and receive an Industrial Registry Certificate.

Companies, which have Industrial Registry Certificate, are required to declare their "Annual Operating Statements" within the first four months of every year.

Annual Operating Statements shall be submitted on The Ministry of Industry and Technology’s website www.sanayi.gov.tr from the section "Industrial Registry Information System", which can be found under the "E-Services" menu.

Companies, which have Industrial Registry Certificate, must submit declaration of 2020 "Annual Operating Statement" digitally until 30.04.2021 at the latest to avoid penal sanctions.

Within this scope, businesses that do not fulfil the mentioned liability will be imposed an administrative fine of 1.730,00 TL as per the limits determined for 2021.

Social Security Institution has published a new Communiqué numbered 2021/9 and canceled the termination code 29 (for the behaviors of the employee against ethic rules) and added new termination codes with that new Communiqué.

The new codes on the Communiqué are as below:

Code-42; "If the employee tricks the employer and gives incorrect information about the employer during the employment contract. (Law No: 4857 Article 25-II-a)

Code-43; If employee speaks of ill or behaves disrespectfully on behalf of the employer or their families (Law No: 4857 Article 25-II-b)

Code-44; If the employee sexually harass another employee. (Law No: 4857 Article 25-II-c)

Social Security Institution has published a new Communique (No:2021/8) and changed the related part on the Communique 2020/20 about the social security premium calculations of the employees working on R&D or Technology Development areas in line with the related Laws no: 5746 and 4691.

Per that regulation; income tax and stamp tax would be applied for the wages of the R&D employees working in the scope of the Law No 4691. During the calculation of gross and net wages, income tax and stamp tax would be taken into account.

Accordingly, the approach of the gross and net wage calculations would be as below:

Gross Wage: Net Wage + Social Security Premium (Employee Portion) + Unemployment Premium (Employee Portion) + Income Tax + Stamp Tax

Net Wage: Gross Wage - Social Security Premium (Employee Portion) - Unemployment Premium (Employee Portion) - Income Tax - Stamp Tax