Legal Updates

Guideline on Advertisements Containing Environmental Declarations ("Guideline") was published on December 29, 2022, on the official website of the Ministry of Trade General Directorate for Consumer Protection and Market Surveillance Directorate in accordance with the Resolution No. 2022/2 of the Board of Advertisement at the meeting dated December 13, 2022.

With the recent amendments to the Notary Public Law No. 1512 ("Law"), the immovable property sales agreements, which could only be executed before the land registries previously, can now be executed before the Turkish notaries as of January 1, 2023. In other words, immovable property sales agreements can now be concluded both before the land registries and the notaries as of such date.

The Regulation on Electronic Commerce Intermediary Service Provider and Electronic Commerce Service Provider ("Regulation") was published in the Official Gazette as it is expected, in accordance with the need for the secondary regulation to address the details of the regulation introduced by Law No. 6563 on the Regulation of Electronic Commerce ("Law").

Communiqué on the Default Interest Rate to be applied for Late Payments and the Minimum Expense Amount that can be claimed for the Collection Costs of Receivables in the Supply of Goods and Services (the “Communiqué”) was published in the Official Gazette dated January 2, 2023 numbered 32061 and entered into force on January 1, 2023.

The Communiqué on Import Control of Tobacco, Tobacco Products, Alcohol and Alcoholic Beverages (Product Safety and Inspection: 2023/19) (the “Communiqué”) was published in the Official Gazette dated December 31, 2022 and numbered 32060 (4th bis.), as in previous year-ends. The Communiqué was entered into force on January 1, 2023.

The Communiqué on Increasing the Monetary Limits in Article 68 of the Consumer Protection Law No. 6502 and Article 6 of the Regulation on Consumer Arbitration Committees (“Communiqué”) was published in the Official Gazette dated 16.12.2022 and numbered 32045.

Pursuant to Article 350 of the Turkish Code of Obligations; the lessor, his/her spouse, his/her descendants or ascendants or persons who are legally dependent on the lessor; should have a need to use the leased property for residency or workplace purposes for lessor to request the eviction of the property due to personal needs.

The Law No. 7420 Amending the Income Tax Law and Certain Laws and Statutory Decrees was published in the Official Gazette dated 9 November 2022 and numbered 32008 (the “Law”).

The General Communiqué of The Financial Crimes Investigation Board No. 21 ("Communiqué") was published in the Official Gazette dated 17 November 2022 and numbered 32016 and entered into force on that date.

The Regulation on the Amendment (“Amendment Regulation”) of the Cosmetics Regulation (“Regulation”) was published in the Official Gazette dated 14 November 2022 and numbered 32013 and entered into force on the same date.

Draft Revisions to the G20/OECD Corporate Governance Principles ("Draft Revisions") are introduced for public consultation to get the comments of the industry and the society.