22 Jun 2017
Turkey has introduced a VAT exemption for the first time a particular property is purchased by a foreigner as a residence or office, provided the property is held for at least one year and the purchase was made with […]
20 Jun 2017
Turkey’s Energy Market Regulatory Board (“Board”) has amended procedures for financial guarantees in the wholesale electricity market. Amendments address the market operator’s (Enerji Piyasaları İşletme A.Ş.) risks where market participants fail to fulfil obligations. Changes introduce new daily requirements […]
13 Jun 2017
Turkey’s energy regulator has updated the tender rules for determining eligible bidders for grid connections during pre-license applications for wind and solar power plants. Tenders are held by Turkish Electricity Transmission Company if multiple applications are made for the […]
12 Jun 2017
The 0.04% fees paid during company incorporation and capital increases for joint stock or limited companies will now be paid to commercial registries, rather than to the Turkish Competition Authority. The change will apply once a protocol is established […]
8 Jun 2017
Turkey has extended the scope of financial incentives offered for investments in certain industries. The Investment Incentive Scheme divides Turkey into six regional categories, grouping provinces based on their socio-economic development and targeting incentives accordingly. Under the changes, investments […]
7 Jun 2017
Turkey has updated its waste incineration regime, to keep up with technological and sector developments. Notably, only “hazardous wastes” can now be incinerated at common burning plants. Wood waste is now mostly removed from the Regulation on Waste Incineration. […]
1 Jun 2017
Turkey’s Ministry of Energy and Natural Resources has amended legislation governing large-scale renewable energy resource areas (“RERA”). The General Directorate of Renewable Energy’s (“General Directorate“) authority has been expanded, to now also include the power to determine technical and […]
31 May 2017
Turkey’s Ministry of Energy and Natural Resources (“Ministry”) has updated the regulatory regime for firms which supervise and approve electricity generation facilities (“Authorized Firms”). The changes generally tighten the regime, by restricting the Ministry’s delegation powers, as well as […]
29 May 2017
Turkey’s Ministry of Finance has announced changes to the Value Added Tax (“VAT”) regime. Changes apply to discount methods for undeclared VAT. Undeclared VAT on invoices can now be discounted within the year when the case is completed. The […]
25 May 2017
Turkey’s Public Oversight Accounting and Auditing Standards Authority has revised certain rules for independent auditors. Changes involve new responsibilities to address and evaluate key issues in audit reports, as well as revised obligations for auditors when agreeing audit terms […]
