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2020-63 Monthly Financial/Tax Regulations Summary in Turkey (May 2020)

May 2020 was very busy in terms of financial agenda, because of the pandemic lots of expected arrangements were made and we are expecting June to be much busier month as well in tax, financial, monetary and economic agenda even the Summer is coming.
Let’s briefly start with the headings and then examine the details. We will submit information about tax, customs, social security obligations, banking and financial issues, incentives and other related subject below.

2020-54 Monthly Financial/Tax Regulations Summary in Turkey (April 2020)

Distinguished readers,

April 2020 was very busy in terms of financial agenda, because of the pandemic lots of expected arrangements were made and we are expecting May to be much busier month as well in tax, financial, monetary and economic agenda. We would like to submit for your attention as a summary the important tax-related and financial issues that occurred within the last month.

Let’s briefly start with the headings and then examine the details.

2020-36 Latest Financial/Tax Regulations in Turkey (March 2020 Summary)

Distinguished readers,
March 2020 was very busy in terms of financial agenda, because of the pandemic lots of expected arrangements were made and we are expecting April to be much busier month as well in tax, financial, monetary and economic agenda. We would like to submit for your attention as a summary the important tax-related and financial issues that occurred within the last month.

2020-31 Covid-19 New Omnibus Law referring Turkish Economic Stability Shield Package

In a newsletter, we presented a summary of the “Economic Stability Package” announced after the COVID-19 (Corona virus) evaluation meeting held under the chairmanship of the President of the Republic of Turkey on 18.03.2020. You can find details in the Bulletin No: 2020-23. Most of the measures outlined by the President are regulated by a new Omnibus Law (No: 7226), which includes 53 articles and published in Official Gazette, dated March 26th, 2020. A summary of key points is presented below. This Omnibus Law, which originally had 38 articles, while it was extended by the new 2 articles added in Plan & Budget Committee and 13 new articles added in General Assembly. The newly added articles relate to the Covid-19 measures.

2020-29 COVID-19 Force Majeure Perspective (Private Law)

Covid-19 Coronavirus (“Coronavirus”) disease, which first appeared in China by the end of 2019, then detected and quite rapidly spreading in Turkey, has been negatively affecting the commercial life. Potential difficulties, and even impossibilities, in fulfilment of the obligations under the contracts have brought into question the application of “force majeure”, which is a notion that exists under most jurisdictions. The main discussion is whether the Coronavirus disease can be treated within the concept of force majeure and how the performance of obligations under contracts will be affected.

2020-26 Labor & Employment Measures and SSI Premium Deferrals in Turkey of COVID-19

We have presented a summary of the “Economic Stability Package” announced after the COVID-19 (Corona virus) evaluation meeting held under the chairmanship of the President of the Republic on 18.03.2020. We will closely follow up the details of the package and the legal & administrative arrangements to be made and timely inform you.
This bulletin aims at summarizing the deferrals of SSI premiums for some specific business sectors, and other legislative changes related with the labor and payment for retired people. This bulletin also describes the abatement, application for installments & deferment methods of the current debts to the SSI. Let’s go into the details now.