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News & Insights

July 31, 2019

Court Of Appeals Disambiguates Penalty Clauses in Employment Agreements

Legal Alerts
Employment

Recent Development The Court of Appeals’ General Assembly of Civil Chambers on the Unification of Decisions ruled in its decision dated March 8, 2019 and No. 2017/10 E. – 2019/1 K. that with respect to an employment agreement executed as definite-term but deemed an indefinite-term agreement due to the absence of an objective reason, the […]

July 29, 2019

Constitutional Court Rules Member of the Board of Directors Responsible for Unpaid Social Security Premium Receivables

Legal Alerts
Corporate

Recent Development In its decision dated May 30, 2019 and No. 2015/11192  (“Decision“), the Constitutional Court ruled that the seizure of assets of a board member due to his liability for the public receivables of the company where he served as a board member without the power of representation does not violate the right to […]

July 26, 2019

TİTCK Publishes Guidelines for Mutual Recognition Regarding Pharmaceutical Inspections

Legal Alerts
Healthcare

Recent Developments The Turkish Medicines and Medical Devices Agency (“TİTCK”) published the Guidelines for Mutual Recognition Regarding Pharmaceutical Inspections on July 9, 2019 (“Guidelines”). The Guidelines sets forth the procedures and principles for health authorities’ mutual recognition applications with the TİTCK regarding Good Manufacturing Practices (GMP) inspections. What’s New? As per the Guidelines, the following […]

July 25, 2019

Amendments to the Land Registry and Construction Laws

Legal Alerts
Real Estate

Recent Developments The Law No. 7181 on the Amendments to the Land Registry Law and Certain Other Laws (“Law“) was published on July 10, 2019 in the Official Gazette No. 30827. The Law introduces several amendments to certain laws including the Land Registry Law, Zoning Law, Municipality Law and Turkish Civil Code. What’s New? Important […]

July 25, 2019

TİTCK Announcement on EBS Notifications of Precursors and Controlled Substances

Legal Alerts
Healthcare

Recent Developments The Turkish Medicines and Medical Devices Agency (“TİTCK”) announced on its website on July 10, 2019 that pharmaceutical companies must make their consumption-stock notifications regarding controlled substances/precursors through the Electronic Notification System (tr. EBS). What’s New? The TİTCK announced that as of January 2019, relevant pharmaceutical companies must make their consumption-stock notifications regarding […]

July 24, 2019

New Asset Peace Incentive

Legal Alerts
Tax

Recent Developments The Law on the Amendment to the Income Tax Law and Certain Laws (the “Law“) entered into force upon its publication on the Official Gazette No. 30836 dated July 19, 2019. The Law introduced a new asset peace incentive. What’s New? a) Assets held abroad Individuals and legal entities can freely dispose of […]

July 23, 2019

Material Changes to Financial Restructuring

Legal Alerts
Banking & Finance

Recent Developments The Law on the Amendment to the Income Tax Law and Certain Laws (the “Omnibus Bill“) entered into force upon its publication on the Official Gazette No. 30836 dated July 19, 2019. The Omnibus Bill includes provisions for financial restructuring and tax related matters. What’s New? Financial Restructuring We discussed the Draft Law […]

July 18, 2019

New “Tourism Share” Payment Liability on Certain Commercial Enterprises

Legal Alerts
Tax

Recent Development The Law No. 7138 on the Tourism Publicity and Development Agency (“Law“), published in the Official Gazette No. 30832 dated 15 July 2019, established the Tourism Publicity and Development Agency (“Agency“), a separate legal entity subject to private law except for certain issues specified in the Law. One of the Agency’s income resources […]

July 17, 2019

Changes to Gold, Silver and Platinum Loans

Legal Alerts
Banking & Finance

Recent Development The Ministry of Treasury and Economy amended the Communiqué No: 2008-32/35 on the Decree No. 32 Regarding Protection of the Value of the Turkish Currency (the “Amendment“) with respect to gold, silver and platinum loans. The Amendment entered into force upon its publication on the Official Gazette No. 30830 dated July 13, 2019. […]

July 16, 2019

Document Requirements Decreased for Prosecutions Made Before the Turkish Patent and Trademark Office Without the Representation of an Attorney

Legal Alerts
Intellectual Property

Recent Developments The Regulation Regarding the Amendments made on the Regulation on the Implementation of Intellectual Property Law (“Regulation“) was published and entered into force on July 8, 2019. With the Regulation, Turkey continues to shorten prosecutions and increase the efficiency of the intellectual property system by making new improvements and legislation changes. The common […]

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