The Regulation on Amendments to the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (“Regulation”) was published and entered into force on 28.03.2025. Payment service providers who have payment accounts that may be related to payment services and provide direct online access to their customers for the payment accounts they hold...

Communiqué No. 2025-32/74 (“Communiqué No. 2025-32/74”) and Communiqué No. 2025-32/75 (“Communiqué No. 2025-32/75”) amending Communiqué No. 2008-32/34 (“Communiqué No. 2008-32/34”) on Decree No. 32 on the Protection of the Value of the Turkish Currency entered into force after being published in the Official Gazette on 28.03.2024. With the Communiqué No. 2025-32/74, the phrase “gold, silver...

The “Law Amending the Capital Markets Law No. 7518” amending various articles of the Capital Markets Law No. 6362 (“Law”) entered into force after being published in the Official Gazette dated 02.07.2024 and numbered 32590. With the said regulation, crypto asset service providers are subject to the regulation and supervision of the Capital Markets Board...

Among four significant secondary regulations regarding crypto assets published in the Official Gazette on March 13, 2025, the Communiqué on the Establishment and Operating Principles of Crypto Asset Service Providers (III-35/B.1) (“Communiqué”) issued by the Capital Markets Board (“Board”) stands out with its 57 articles. Key regulations in the Communiqué can be summarized as follows:...

The Banks Association of Türkiye(“TBB”) published the December 2024-Turkey Financial Sector Payment Systems Report (“Report”) on 07.03.2025 on the TBB website. The Report contains comprehensive data on payment systems in Türkiye and the number and amounts of transactions made with payment instruments. In addition, non-branch channel-based data and selected items related to the nature of...

An amendment was made to the Export Circular by the Ministry of Treasury and Finance with a letter dated January 3, 2022 and put into practice with Additional Article 1, regarding the sale of export proceeds to the Central Bank of the Republic of Turkey (“TCMB”) within the scope of the Ministry’s letter dated February...

The Ministry of Treasury and Finance (Revenue Administration) has abolished the practice of cash VAT refunds for deliveries subject to a discounted rate within the year within the framework of the authority granted to it by the Value Added Tax Law. The regulation regarding the subject was made in the VAT Implementation General Communiqué No....

The Ministry of Treasury and Finance, using the authority granted by the Tax Procedure Law, has decided not to apply inflation adjustment in provisional tax periods in 2025. The decision of the Ministry was included in the General Communiqué on Tax Procedure Law No. 582 published in the Official Gazette on 15 February 2025. Accordingly;...

On 03.01.2025, the Personal Data Protection Authority of Türkiye (“Authority”) published on its website the amounts of the Administrative Fines regulated in Article 18 of the Turkish Personal Data Protection Law No. 6698 (“Law No 6698”) increased by the revaluation rate determined and announced for the years 2017-2025 in accordance with the provisions of the...

As a result of the amendments dated 02.03.2024 to the Law No. 6698 on the Protection of Personal Data(“Law No. 6698”) an Information Note on the Implementation of Misdemeanors in Terms of Time within the Scope of the Amendments to the Law No. 6698 on the Protection of Personal Data dated 02.03.2024 has been prepared...