08Kasım2022

Communiqué for Amendment of the Communiqué on Article 376 of the Turkish Commercial Code

Communiqué on the Amendment of the Communiqué on the Procedures and Principles for the Implementation of the Article 376 of the Turkish Commercial Code Numbered 6102 ("Amendment Communique") (In Turkish) has been published in the Official Gazette dated November 8, 2022 and numbered 32007. The amendment made in the Communique is as follows;

With the Amendment Communiqué, published in the Official Gazette dated September 15, 2018 and numbered 30536, the provisional clause of "Communiqué on the Procedures and Principles for the Implementation of the Article 376 of the Turkish Commercial Code Numbered 6102” ("Communiqué") (In Turkish)

“Until January 1, 2023, in the calculations made for capital loss or indebtedness within the scope of Article 376 of the Law, exchange rate difference losses arising from foreign currency denominated obligations that have not yet been performed may not be taken into account.”

The date of January 1, 2023 stipulated in the article has been extended to January 1, 2024.

The Amendment Communique has entered into force as of November 8, 2022, which is the publication date.

Should you have any queries or need further details, please contact your customer representative.

Yazar CottGroup Hukuk ve Mevzuat Ekibi, Kategori Turkish Commercial Code

Notification!

The content in this article is for general information purposes only and belongs to CottGroup^® member companies. This content does not constitute legal, financial, or technical advice and cannot be quoted without proper attribution.

CottGroup^® member companies do not guarantee that the information in the article is accurate, up-to-date, or complete and are not liable for any damages that may arise from errors, omissions, or misunderstandings that the information may contain.

The information presented here is intended to provide a general overview. Each specific case may require different assessments, and this information may not be applicable to every situation. Therefore, before taking any action based on the information provided in the article, it is strongly recommended that you consult a competent professional in the relevant fields such as legal, financial, technical, and other areas of expertise. If you are a CottGroup^® client, do not forget to contact your client representative regarding your specific situation. If you are not our client, please seek advice from an appropriate expert.

To reach CottGroup^® member companies, click here.