News

section-a6d208c
NEW REGULATIONS ON CRYPTO ASSET SERVICE PROVIDERS
NEW REGULATIONS ON CRYPTO ASSET SERVICE PROVIDERS

The long-awaited Secondary Regulations of the Crypto Asset Sector have been published in the Official Gazette dated March 13, 2025. These communications, published by the Capital Markets Board, provide a comprehensive framework for the sector by fully regulating the financial, administrative and technical processes of Crypto Asset Service Providers.

NEW REGULATION ON ELECTRONIC MAINTENANCE OF COMMERCIAL BOOKS NOT RELATED TO THE ACCOUNTING OF THE BUSINESS
NEW REGULATION ON ELECTRONIC MAINTENANCE OF COMMERCIAL BOOKS NOT RELATED TO THE ACCOUNTING OF THE BUSINESS

The Communiqué on Maintenance of Commercial Books Not Related to the Accounting of the Business in Electronic Form published in the Official Gazette dated February 14, 2025 and numbered 32813 through which the procedures and principles regarding the keeping of the share ledgers, board of directors‘ resolution books and general assembly meeting and negotiation books electronically are regulated.

UPDATE ON THE MONETARY LIMITS FOR SALE ANNOUNCEMENTS UNDER THE ENFORCEMENT AND BANKRUPTCY LAW
UPDATE ON THE MONETARY LIMITS FOR SALE ANNOUNCEMENTS UNDER THE ENFORCEMENT AND BANKRUPTCY LAW

"The Communiqué on the Update of Monetary Limits for Announcements of Sales to Be Made Under Enforcement and Bankruptcy Law" was published in the Official Gazette dated January 22, 2025 and numbered 32790.

 APPLICATION OF STANDARD CONTRACTS FOR TRANSFERRING DATA ABROAD
APPLICATION OF STANDARD CONTRACTS FOR TRANSFERRING DATA ABROAD

With the amendments made to Türkiye's Personal Data Protection Law No. 6698, the transfer of personal data abroad has gained a more systematic and monitorable framework. Regarding standard contracts, which are one of the appropriate safeguards for transferring data abroad, various data flow scenarios have been published, and it has been stated that these contracts must be reported to the Authority. Additionally, with the announcement made on October 17, 2024, a “Standard Contract Notification Module”, which facilitates the notification process for data controllers, has been introduced.

THE EXEMPTION RATE UNDER ARTICLE 5/1-E OF THE CORPORATE INCOME TAX LAW HAS BEEN REDUCED
THE EXEMPTION RATE UNDER ARTICLE 5/1-E OF THE CORPORATE INCOME TAX LAW HAS BEEN REDUCED

With the Presidential Decree dated November 26, 2024 and numbered 9160, the exemption rate in Article 5/1-e of the Corporate Income Tax Law No. 5520 has been reduced to 50%. This amendment entered into force on November 27, 2024.

REGULATIONS ON THE DIRECT SELLING SYSTEM MADE THROUGH THE LAW ON AMENDMENTS TO THE LAW ON CONSUMER PROTECTION AND CERTAIN OTHER LAWS
REGULATIONS ON THE DIRECT SELLING SYSTEM MADE THROUGH THE LAW ON AMENDMENTS TO THE LAW ON CONSUMER PROTECTION AND CERTAIN OTHER LAWS

The Law on Amendments to the Law on Consumer Protection and Certain Other Laws ("Law") was published in the Official Gazette dated 30.10.2024 and numbered 32707. This Law includes specific regulations on the Direct Selling System and administrative fines.