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...
In a decision, dated 1 February 2024 and numbered E.2023/177 K.2024/30, was published in the Official Gazette on 20 May 2024, the Constitutional Court has rejected the Council of State 10th Chamber’s application for the annulment of the “Regulation on Electronic Commerce Intermediary Service Providers and Electronic Commerce Service Providers” (“E-Commerce Regulation“). As is...
The Personal Data Protection Authority (“Authority“) announced on its website on May 17, 2024 (“Announcement“) that it has initiated the public consultation process on draft 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...
The Draft Bill Amending the Capital Markets Law numbered 6362, also known as the Draft Bill on Crypto Assets (“Draft Bill“), was submitted to the Grand National Assembly of Turkey (“TBMM“) on May 16, 2024. The Draft Bill aims to regulate the operations of crypto asset service providers (“CSPs“), the activities of crypto asset platforms,...
The Financial Crimes Investigation Board of Türkiye (“MASAK“) announced on May 14, 2024, that it has updated the Suspicious Transaction Reporting Guide (“Guide“) and the MASAK Online system, which regulate the procedures and principles regarding suspicious transaction reports specific to the banking sector. With the update, new suspicious transaction types, especially those made through social...
The Personal Data Protection Authority (the “Authority“) has commenced the public consultation process on the “Draft Regulation on the Procedures and Principles Regarding the Transfer of Personal Data Abroad” (the “Draft Regulation“) with the publication of the announcement on 9 May 2024 on the Authority’s website (“Announcement”). This initiative follows the publication of Law No....
The Official Gazette of April 30, 2024, has published the General Communiqué No. 560 under the Tax Procedure Law (“Communiqué“), announcing a pivotal regulation for the upcoming fiscal period. According to the Communiqué, tax inflation adjustments as stipulated by Article 298/A of the Tax Procedure Law (“TPL“) will not be applied, a decision made public...
The Revenue Administration Presidency of Republic of Türkiye published the Tax Procedure Law (“TPL“) Circular No. VUK-167/2024-5 (“Circular“) titled “Extension of the Corporate Tax Return Filing Period” on 26 April 2024. This Circular extends the filing deadlines for the 2023 accounting period Corporate Tax Declarations, initially due by 30 April 2024, as well as the...
Law No. 7499 on the Amendment of the Code of Criminal Procedure and Certain Laws (“Law Amendment”), which includes significant changes to the Personal Data Protection Law (“PDPL and the Law”), was published in the Official Gazette on March 12, 2024. With Law Amendment, Article 6 titled Processing of Special Categories of Personal Data, Article...
