On July 16, 2024, the “Draft Bill on Amendments to the Tax Laws and Certain Laws” (“the Draft Bill”) was presented to the Presidency of the Grand National Assembly of Türkiye and was approved by the Plan and Budget Commission on July 18, 2024. The Draft Bill is expected to be discussed and enacted by...
The “Draft Bill on Amendments to Tax Laws and Certain Other Laws” (“Draft Bill“), submitted to the Grand National Assembly of Türkiye on July 16, 2024, was accepted by the Plan and Budget Commission on July 18, 2024. The Draft Bill is expected to be discussed and enacted by the General Assembly of the Grand...
The Personal Data Protection Authority (“Authority“) announced on its website on July 10, 2024 (“Announcement“) the final documents related to standard contracts and binding corporate rules (“BCRs“) as the appropriate assurance methods for the transfer of personal data abroad, pursuant to paragraph 4 of Article 9 of the Law on the Protection of Personal Data...
The Regulation on the Procedures and Principles Regarding the Transfer of Personal Data Abroad (“Regulation“) was published in the Official Gazette dated July 10, 2024, and has thus come into force. The Regulation has been prepared in order to regulate the procedures and principles regarding the transfer of personal data abroad. It may be recalled...
The Capital Markets Board (“CMB“) published an announcement (“Announcement”) on its official website on 2 July 2024. This announcement addressed the regulatory gap that emerged with the enforcement of the Law Amending the Capital Markets Law No. 7518 (“Law Amendment“), which was published in the Official Gazette on the same day. The Law Amendment introduced...
The Law on Amendments to the Capital Market Law numbered 6362, concerning crypto assets (“Law Amendment“), has now been enacted by the General Assembly of the Turkish Grand National Assembly (“TBMM”) on 26 June 2024. The Law Amendment aims to regulate the operations of crypto asset service providers (“CSPs“), the activities of crypto asset platforms,...
According to a statement made by the Minister of Treasury and Finance Mehmet Şimşek on June 20, 2024, the Global Minimum Corporate Tax (“GMCT“) is expected to be among the tax regulations that will soon be submitted to the Turkish Grand National Assembly. This development is expected to have significant consequences for multinational companies...
On 5 June 2024, the Financial Crimes Investigation Board (“MASAK”) announced the publication of an updated version of the Suspicious Transaction Reporting Guide (“Guide“) for the Payment and Electronic Money Institutions operating within the scope of Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions. The Guide incorporates feedback...
The Law on Amending the Turkish Commercial Code No. 6102 and Some Laws by the Turkish Grand National Assembly (“Law No. 7511”), was adopted on May 23, 2024. Law No. 7511, which is drafted as an omnibus bill and envisages amendments to Article 366, 375, 392, Temporary Article 7 of the Turkish Commercial Code (“TCC”,...
The Law Amending the Turkish Commercial Code No. 7511 and Some Laws by the Grand National Assembly of Türkiye (“Law No. 7511“), is adopted on 23 May 2024. Law No. 7511, which is drafted as an omnibus bill, envisaged amendments to Articles 34, 43, and 45 of Law No. 4054 on the Protection of Competition...
