27 Feb 2017
Turkey’s Central Bank has updated the default interest ratio to 10.75% for late payments made to creditors in the context of commercial transactions for goods and services. The minimum compensation amount which creditors can claim for recovery cost has […]
23 Feb 2017
Turkey’s Energy Markets Regulatory Authority (“Authority”) has amended how distribution and bunker fuel delivery license holders in the petroleum market must prove they meet the minimum asset thresholds. From 2018, such license holders will be able to submit the […]
16 Feb 2017
Turkey’s Energy Market Regulatory Authority (“Authority”) has amended tariff-calculations for Liquefied Natural Gas storage companies. Amendments apply particularly to the Authority’s consideration of operating expenditures changes, as well as determining the tariff which will apply if a license or […]
9 Feb 2017
Transition Period for Electricity Generation Facilities Extended in Turkey Turkey’s Ministry of Energy and Natural Resources has extended the transition period for acceptance procedures applicable to electricity generation facilities, from 6 November 2016 to now be 31 March 2017. […]
6 Feb 2017
From 1 January 2017, employers must enrol all employees into an Individual Pension System if they are under 45 year’s old and Turkish citizens. Employees can terminate their enrolment in the pension scheme within two months of being notified […]
2 Feb 2017
Turkey has postponed the requirement for certain taxpayers to issue e-Invoices. The requirement applies to taxpayers which exceed certain sale volumes, as well as those who import, export, or sell certain commodities. Taxpayers who export certain commodities (stated under […]
30 Jan 2017
Turkey and Venezuela have signed an extensive cooperation agreement in the energy sector, aiming to develop and promote the oil, gas and petrochemical sectors. Turkey’s Council of Ministers ratified the Agreement between the Governments of the Republic of Turkey […]
27 Jan 2017
Turkey’s Ministry of Finance has announced the revaluation rate for 2016 as 3.83%. The rate will also apply to the last provisional taxation period of 2016. The revaluation rate is used to update various taxes, administrative penalties and other […]
24 Jan 2017
The Union of Turkish Public Notaries (“Notary Union”) has clarified that restoration and lease agreements for immovable property owned by the General Directorate of Foundations (and related foundations) are exempt from stamp duty and fees. The Notary Union requested […]
23 Jan 2017
Turkey’s Energy Market Regulatory Authority (“Authority”) has introduced new rules for natural gas importers. The rules introduce thresholds of natural gas which importers must be store in underground facilities within five years, as well as related document procedures. The […]
