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News & Insights

February 16, 2018

RTÜK to Supervise Internet Broadcasts

Uncategorized
IT & Communications

Recent Development The Draft Law on the Amendments to the Tax Laws and Certain Laws and Decrees (“Draft Law”), recently submitted to the Turkish Parliament, introduces highly significant restrictions in relation to internet broadcasting. Pursuant to the new Article 29/A to be added to Law No. 6112 on the Establishment of Radio and Television Enterprises […]

February 9, 2018

Cosmetics Safety: Turkey Continues Cracking Down on Unsafe and Non-Compliant Cosmetic Products

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (“TİTCK”) recently announced the results of its cosmetics sector market surveillance and inspection conducted between September and December 2017. What do the Results Say? The TİTCK’s Cosmetics Supervision Department published the list of unsafe and non-compliant cosmetics products detected during the fourth quarter of 2017. Of […]

February 8, 2018

Quality in Cosmetics Manufacturing: Application Procedures for GMP Certificates Announced

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (“TİTCK”) recently announced that Good Manufacturing Practice (GMP) Certificates will be issued for the manufacturing sites of cosmetic products. What Does the Announcement Say? The TİTCK issues GMP Certificates for cosmetic manufacturing sites only for export purposes. Manufacturing sites deemed compliant with the GMP requirements are […]

February 5, 2018

Safety First: TİTCK Announces the Certified Pharmacovigilance Service Providers

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (“TİTCK“) recently published on its website the list of the certified pharmacovigilance service providers. What is Pharmacovigilance? Pharmacovigilance refers to the scientific activities relating to the detection, assessment, understanding and prevention of adverse effects or any other drug-related problems. In this scope, marketing authorization holders may […]

February 2, 2018

Amendment Makes Turkish IPOs Even Easier

Legal Alerts
Capital Markets

Recent Development The Capital Markets Board (“CMB“) amended the Communiqué on Shares No. VII-128.1 and eased the conditions for initial public offerings. The amendments were published and entered into force on January 26, 2018. What’s new? In an initial public offering, the issuer’s total assets must be a minimum of TRY 10 million and its […]

February 2, 2018

It Is Now Easier to Keep Track of Your Goods in Customs

Legal Alerts
International Commercial and Trade

Recent Development The Turkish Ministry of Customs and Trade (the “Ministry“) had announced that a brand new system called Customs Goods Tracking and Analytical Performance Program (tr.”GET-APP Program“) has been launched. The Ministry recently announced that the application procedures are now made easier due to the increasing demand. What is New? The Ministry has launched […]

February 2, 2018

New VAT liability on non-residents supplying services electronically

Legal Alerts
Tax

Recent development As is known, a new VAT provision was introduced into the VAT Code and, pursuant to this provision, VAT arising from services provided electronically in return for payment by those without a residence, workplace, headquarters or business center in Turkey to individuals who are not VAT taxpayers must be declared and paid for […]

February 1, 2018

Internet Law: New Regulations On The Way

Legal Alerts
IT & Communications

Recent Development The Information and Communication Technologies Authority (the “Authority“) recently presented the Draft Principles and Procedures Regarding the Obligation to Establish and Operation of Internet Exchange Point and Domestic Internet Traffic Management (the “Principles and Procedures“) for public consultation. Opinions may be submitted until February 2, 2018 by filling out the form provided on […]

January 26, 2018

New Restrictions on Utilization of FX Loans

Legal Alerts
Banking & Finance

Recent Development The Council of Ministers published a decree amending the Decree No. 32 on the Protection of the Value of the Turkish Currency (“Decree No. 32“) in the Official Gazette No. 30312 on 25 January 2018. The amendments providing restrictions on FX loans will enter into force on 2 May 2018. What’s new? The […]

January 25, 2018

Legal Alerts
IT & Communications

Recent Development The Data Protection Authority (the “Authority”) published the Guidelines on Personal Data Security (the “Guidelines“) on January 19, 2018. Purpose The Guidelines aim to shed light on technical and administrative security measures data controllers should take in accordance with Article 12 of the Law No. 6698 on the Protection of Personal Data (the […]

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