The “Law Proposal on Making Amendments in Certain Laws and Statutory Degrees” presented to the GNAT (Grand National Assembly of Türkiye) on 30.11.2018, will make new amendments with the goals of contributing to economic growth and increasing levels of income and welfare.

Certain clauses in the law proposal, which consists of 71 articles, are as follows:

As is known, the information regarding the notifications made in electronical environment is given in the Art. 7/a of 7201 numbered Notification Law amended with the 7101 numbered Law which is published in the Official Gazette on 15.03.2018; and it is mentioned in the same Law that the procedures and principles of e-notification shall be determined with a regulation. The “Electronical Notification Regulation” (the “Regulation”) is published on 06.12.2018 in the 30617 dated Official Gazette by the Ministry of Justice. You may reach the full text of the Regulation here.

Durations; which were stated in the clauses (a), (b), (c) and (e) of the 13th paragraph of the 10th Article that belongs to “The Law no. 7143 on Restructuring Taxational and Other Certain Debts and Amendments in Certain Laws”, published in the Recurrent Official Gazette numbered as 30611 on 30 November 2018; are extended for 6 months starting from the due dates with the Presidential Decree numbered as 405, which extends the duration for 6 months starting from the due dates of declarations of relevant assets and %2 tax payments over the declared amounts.

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.