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August 15, 2016

Turkey Amends Application Process for Clinical Research

Legal Alerts
Healthcare

Recent development The Turkish Medicines and Medical Devices Agency (TİTCK) has announced changes to the application process for clinical research. The cover letter samples and application forms in relation to an application for clinical research have been amended, and new applications for clinical research must be made using these new samples and forms. The changes […]

August 12, 2016

Turkey Publishes Draft Changes in Cosmetics Regulation

Legal Alerts
Healthcare

Recent development On August 11, 2016, the Cosmetics Products Department of the Turkish Medicines and Medical Devices Agency (TİTCK) published the draft changes in the Cosmetics Regulation. The amendment is expected to align Turkey’s cosmetics rules with the EU regulations 2016/314, 2016/621, 2016/622, 2016/1120, 2016/1121, 2016/1143 and 2016/1198, all of which amended the EU’s Cosmetics […]

August 11, 2016

Turkey Cooperates with Pharmaceutical Companies on the Pricing of Medicinal Products for Human Use

Legal Alerts
Healthcare

Recent development The Turkish Medicines and Medical Devices Agency (TİTCK) announced on its website that it intends to cooperate with all pharmaceutical companies in Turkey in relation to the pricing of pharmaceuticals. The TİTCK will convene representatives of the pharmaceutics industry at their “Evaluation Meeting on Pricing Applications for Medicinal Products for Human Use” at […]

August 11, 2016

Turkey to Introduce a New Tax Amnesty Law

Legal Alerts
Tax

In an effort to ensure the sustainability of the national economic growth, reduce the burden of public debts incurred by the private sector and encourage taxpayers to resolve tax law disputes without litigation, the government prepared a new comprehensive law on the restructuring of public receivables. On August 3, 2016, the “Law on the Restructuring of Certain Receivables” […]

August 11, 2016

Turkish Central Bank to Provide Extra Market Liquidity through Reserve Ratio Adjustments

Legal Alerts
Banking & Finance

Recent development Seeking to ensure that the market has sufficient available liquidity following the recent political and economic developments in Turkey, the Central Bank of Turkey (the “Central Bank“) reduced the Turkish banks’ reserve requirements for Turkish lira liabilities on August 10, 2016. The changes will take effect on August 12, 2016. New TRY reserve […]

August 11, 2016

Turkey Amends Cosmetics Regulations to Align with the EU

Legal Alerts
Healthcare

Recent development On August 5, 2016, the Cosmetics Products Department of the Turkish Medicines and Medical Devices Agency (TİTCK) announced that it is currently working on a comprehensive amendment of Annexes III, IV, V and VI of the Cosmetics Regulation. The amendment is expected to align Turkey’s cosmetics rules with the EU regulations 2016/314, 2016/621, […]

August 10, 2016

New Tax Law to improve Turkey’s investment climate enters into force

Legal Alerts
Tax

Recent Development The “Law Amending Certain Laws to Improve the Investment Climate,” (“Law“) which introduces new amendments on the Income Tax Law, Corporate Income Tax Law, Value Added Tax Law, Stamp Tax Law, Tax Procedural Law, Expenditure Taxes Law and Real Estate Tax Law has been published in the Official Gazette No. 29796 dated August […]

August 9, 2016

Turkish Medicines and Medical Devices Agency Publishes New Draft Rules for Public Opinion

Legal Alerts
Healthcare

Recent development The Turkish Medicines and Medical Devices Agency (TİTCK) published two new drafts on its website as a part of the harmonization process with the EU medical devices standards. What’s new? One of the drafts, the “Regulation Amending Regulation on In Vitro Diagnostic Medical Devices,” expands the list of high-risk in vitro diagnostic medical […]

August 3, 2016

Bankruptcy Postponement Applications Suspended

Legal Alerts
Dispute Resolution

Recent Development On July 31, 2016, the Turkish government introduced a decree law suspending all applications for bankruptcy postponement during the state of emergency. The 90-day state of emergency was declared by the government on July 21, 2016 following an attempted military coup. Bankruptcy postponement is essentially a reorganization bankruptcy, a type of bankruptcy protection. […]

August 2, 2016

Developments on the State of Emergency: New Executive Order Enters into Force

Legal Alerts

Recent Development On July 31, 2016, the Council of Ministers issued the third executive order on the implementation of the current state of emergency (“Executive Order“). The Executive Order amends several laws and regulations; discharges certain members of the military linked to the Fethullah Terrorist Organization (FETO); establishes a national defense university; introduces rules related […]

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