Recent Development The Turkish Medicines and Medical Devices Agency (the “TİTCK”) recently published the list of licensed products, available here (in Turkish). From now on, the TİTCK will regularly update and publish the licensed products list on their website. What the announcement says The TİTCK stated that for licensed products that do not appear on […]
Recent development The Turkish Banking Regulatory and Supervisory Authority (the “BRSA”) has recently amended the Regulation on Financial Holding Companies (the “Financial Holding Regulation”). The amendments were published in the Official Gazette No. 30088 on June 6, 2017, and will be effective as of January 1, 2017. What the regulation changes The Financial Holding Regulation […]
Recent Development The Turkish Medicines and Medical Devices Agency (“TİTCK”) recently announced that the registration pages of the Product Tracking System (“ÜTS”) for medical devices are now available. Background The TİTCK and the Scientific and Technological Research Council of Turkey (“TÜBİTAK“) executed an agreement on January 7, 2014, establishing the ÜTS. The ÜTS registers, tracks, […]
Recent developments The Turkish Banking Regulation and Supervision Agency (the “BRSA”) has recently amended the “Regulation on Measurement and Evaluation of Capital Adequacy of Banks” (the “Capital Adequacy Regulation“) effective as of June 6, 2017. Overview of the Amendments The amendments to the Capital Adequacy Regulation introduced material changes to the information reported every trimester […]
Recent Development On June 12, 2017, the Turkish Minister of Finance, Naci Ağbal, announced the introduction of a new withholding tax liability for non-resident companies that engage in e-commerce. In his statement to the press, the Minister of Finance highlighted the following points: The government is currently working on a new Council of Ministers Decision […]
Recent Development On May 27, 2017, the Law on the Restructuring of Certain Receivables and Amendment of Certain Laws and Decree-Laws No. 7020 (“Amnesty Law“) was published in the Official Gazette No. 30078 and entered into force. The Amnesty Law introduces a new amnesty for certain public receivables in relation to the period before March […]
Recent developments The Turkish Medicines and Medical Devices Agency (the “TİTCK”) recently introduced and made available a new Electronic Value Transfer Notifications System for use of licensees and authorized persons for their value transfer notifications. Background The Regulation on the Promotion of Pharmaceutical Products for Human Use (the “Promotion Regulation”, available here in Turkish) requires […]
Recent Development The Ministry of Environment and Urbanization (“Ministry”) recently amended the Environmental Impact Assessment Regulation (Çevresel Etki Değerlendirmesi Yönetmeliği) (“EIA Regulation“) to introduce the concept of capacity increase assessment, new standards for the revision of EIA reports, and certain new thresholds. The amendments were published on the Official Gazette and entered into force on […]
Recent developments In mid May, 2017, the Turkish Medicines and Medical Devices Agency (“TİTCK”) announced the Q1 results of its market surveillance and inspection conducted in the medical devices and cosmetics sectors between January and March 2017. Of the 1,253 medical devices and cosmetic products inspected in total, 509 have been detected as unsafe or […]
Recent developments The Turkish Medicines and Medical Devices Agency (the “TITCK”) recently announced a list of pharmaceutically similar products to be used as a base for the pricing of medicinal products for human use. The list is accessible through this link (in Turkish). Background “Pharmaceutically similar products” are products determined by the TITCK for products […]
