Current Legislative Developments
Communique regarding the earthquake tax has been drafted
Following the earthquake disaster in February, an additional tax at the rates of 10% and 5% was introduced for exemptions and deductions to be included in the 2022 Corporate Tax return.
General Communique No. 3 regarding the implementation of the Additional Tax has been submitted to the Presidency for publication in the Official Gazette
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Two Communiques regarding the Base Increase and Restructuring Law have been published
With the Communiques published in the Official Gazette dated 25.3.2023 and numbered 32143, the subjects included in the law were explained in detail and efforts were made to eliminate question marks by providing examples.
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Central Bank reporting obligation
The Systemic Risk Data Monitoring System (SRVTS) was established within the Central Bank of the Republic of Turkey (CBRT), and companies were requested to report their foreign exchange positions to the Central Bank of the Republic of Turkey via the "Summary Foreign Exchange Position Report" link created at https://tcmbveri.gov.tr. According to the regulation, companies with a total cash and non-cash loan balance of 5 million TL and above are required to submit their foreign exchange position reports to the relevant authority within the first 10 business days of each month.
With the supplementary regulation, the reporting lower limit was raised from 5 million TL to 10 million TL, the reporting period was moved to the last day of the month, and the application was postponed to June 30, 2023, and January 2024, depending on the loan amount.
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Capacity report and industrial registry certificate obligation for businesses with NACE code 62.01
The NACE code of most companies operating in software and gaming starts with 62.01. With the law published in 2017 (Official Gazette dated 01.07.2017 and numbered 30111), "businesses producing information technology and software" were included in the industrial enterprise group. These companies will be required to obtain a "capacity report" for their activities and an "Industrial Registry Certificate" if the number of employees exceeds 10. Industrial enterprises are required to register in the Industrial Registry Information System within 2 months after starting their production activities. The Industrial Registry Certificate is visaed every 2 years. Companies are required to submit the "Annual Enterprise Statement", which includes information regarding the activities of the previous year, electronically via the Registry Information System until the end of April.
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MESEM Personnel Incentive
Within the scope of the project carried out by the Ministry of National Education and the Ministry of Labor and Social Security, employers implementing MESEM (Vocational Education Center), the Apprenticeship Compensation Program which aims to increase the professional experience of employees and enable them to obtain a MASTERSHIP CERTIFICATE as a result of the program, are entitled to receive a cash payment of 27,644.50 TL (GRANT) for each employee. The incentive period lasts for a maximum of 27 weeks (6.5 months). The program, implemented in 33 fields and 183 branches, can benefit both current employees and newly hired personnel, provided they have at least a high school degree.
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Technopark and R&D remote working duration increased to 100% in the state of emergency region
Remote working continues at 75% in other regions. In the state of emergency regions, the entirety of the income tax and SSI employer share in Technopark and R&D centers will be subsidized.
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Earthquake Zone Provinces Included in the Attraction Center Program
These regions will be able to benefit from Region 6 incentives in terms of Investment Incentives.
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Rebar Tracking System
The "General Communique on the Implementation of the Rebar Tracking System" was published in the Official Gazette dated March 16, 2023, and numbered 32134. The application will start with the establishment of the "Rebar Tracking System" (İDİS) by the Mint. Taxpayers who produce or import rebar will enter data into the rebar tracking system (İDİS). The use of secure labels or secure signs will commence.
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Scope of Mandatory Mediation Expanded
Mediation has become mandatory for lawsuits arising from lease relations, condominium ownership, and neighborhood rights. The regulation in question will enter into force on 01.09.2023.
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Minimum Pension Raised to 7,500 TL
With Law No. 7447 published in the Official Gazette dated 05.04.2023, the minimum retirement pension was increased from 5,500 TL to 7,500 TL. In addition, the holiday bonus amounts, which were paid as 1,100 TL each during the Ramadan Feast and Eid al-Adha, were increased to 2,000 TL each.
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EYT Support Package
The details of the Credit Guarantee Fund EYT Support Package service have been clarified to provide financing needs for companies that will pay severance pay due to retirement within the scope of EYT (Retirement Age Exemption), and applications to banks have started. Severance pay will be deposited by the lender directly into the accounts of the employees who will retire within the scope of Law No. 7438. Maximum 36 months (including grace period) and maximum 6 months grace period.
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KOSGEB Increased the Upper Limit for Qualified Personnel Support in Industry
KOSGEB increased the "Qualified Personnel Support in Industry" from 50,000 TL to 100,000 TL. The upper limit of the Qualified Personnel Support in Industry for businesses operating in Technoparks, as well as R&D Centers and Design Centers, became 150,000 TL.
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