The Turkish Competition Authority, in its announcement dated September 16, 2024 (“Announcement“), has declared that the “Draft Guidelines on Competition Violations in Labor Markets” (“Draft Guidelines“), which aims to regulate the principles of competition violations in labor markets under The Act no 4054 on the Protection of Competition (“the Act no 4054”), has been opened...

The Revenue Administration of the Ministry of Treasury and Finance, with the General Communiqué of the Tax Procedure Law numbered 563, has decided that taxpayers whose gross sales are below 50 million lira as of December 31, 2023, will not make inflation adjustments as of the provisional tax periods. Accordingly, after the opening of the...

On 23 June 2024, the Financial Crimes Investigation Board (“MASAK”) announced the publication of an updated version of the Suspicious Transaction Reporting Guide (“Guide“) for the Crypto Asset Service Providers (“CASPs”), who are among the obliged parties under the Law No. 5549 on Prevention of Laundering Proceeds of Crime (“Law No. 5549”). The Guide incorporates...

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...