Recent Keynotes of January 2022

January 2022 İlbey Kolaylı

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International Agreements

The Resolution of the President dated 21.12.2021 and numbered 4928 on the Approval of the Trade and Economic Cooperation Agreement between the Government of the Republic of Turkey and the Government of the Republic of Mozambique, was published in the Official Gazette dated 22.12.2021 and numbered 31697.
The Resolution of the President dated 29.12.2021 and numbered 5018 on the Approval of the 2021 Amendments Made in the Annexes of the European Agreement on the International Carriage of Dangerous Goods by Road, Prepared by the United Nations Economic Commission for Europe, was published in the Official Gazette dated 30.12.2021 and numbered 31705.
The Resolution of the President dated 29.12.2021 and numbered 5019 the Approval of the Decision of the EU-Common Transition Countries Joint Committee dated 1/6/2021 and numbered 1/2021 amending the I and III Annexes of the Convention on the Common Transit Regime was published in the Official Gazette dated 30.12.2021 and numbered 31705.

Resolutions of the President

The Resolution of the President dated 21.12.2021 and numbered 4936 on the Amendment to the Supplementary Decision of the Council of Ministers dated 12/1/2009 and numbered 2009/14592 on the Withholding Rates in Article 94 of the Income Tax Law No. 193 and the Supplementary Decision of the Council of Ministers dated 12/1/2009 and numbered 2009/14594 on Tax Deduction Rates in Article 15 of the Corporate Tax Law No. 5520 and the Supplementary Decision of the Council of Ministers Decision dated 12/1/2009 and numbered 2009/14593 on Tax Deduction Rates in Article 30 of the Same Law entered into force through publication in the Official Gazette dated 22.12.2021 and numbered 31697.
The Resolution of the President dated 21.12.2021 and numbered 4937 on the Enforcement of the Attached Decision Regarding Withholding Rates in the Provisional Article 67 of the Income Tax Law No. 193 entered into force through publication in the Official Gazette dated 22.12.2021 and numbered 31697.
The Resolution of the President dated 24.12.2021 and numbered 4970 on Withholding Rates in the Provisional Article 67 of the Income Tax Law No. 193 entered into force through publication in the Official Gazette dated 25.12.2021 and numbered 31700.
The Resolution of the President dated 30.12.2021 and numbered 5046 on Withholding Rates in Provisional Article 67 of the Income Tax Law No. 193 entered into force through publication in the Official Gazette dated 31.12.2021 and numbered 31706.
The Resolution of the President dated 31.12.2021 and numbered 5053 on the Amendment of the Decision on Implementation of Additional Customs Duty on Imports was published in the Official Gazette dated 31.12.2021 and numbered 31706 (3.bis). This Resolution enters into force on 01.01.2022.
The Resolution of the President dated 31.12.2021 and numbered 5058 on the Extension of the Periods in the First, Second and Fifth Paragraphs of Provisional Article 193 of the Income Tax Law No. 93, from 31/12/2021 until 30/6/2022 (Inclusive) entered into force through publication in the Official Gazette dated 31.12.2021 and numbered 31706 (6.bis).
The Resolution of the President dated 12.01.2022 and numbered 5096 on the Re-determination of Special Consumption Tax Bases Based on Special Consumption Tax Rates of Some Goods in the List (II) Attached to Special Consumption Tax Law No. 4760 entered into force through publication in the Official Gazette dated 13.01.2022 and numbered 31718.

Legislation

The Circular (No: 2021/13) on the Amendment to Decision No. 32 on the Protection of the Value of Turkish Currency and the Central Bank of the Republic of Turkey Circular No. I-M on Communiqué No. 2008-32/34 of the Ministry of Treasury and Finance entered into force through publication in the Official Gazette dated 21.12.2021 and numbered 31696.
The Communiqué (Serial No: 9) on the Amendment to the General Communiqué on Implementation of Special Consumption Tax List (II) was published in the Official Gazette dated 21.12.2021 and numbered 31696. This Communiqué enters into force on 01.01.2022.
The General Communiqué (Serial No: 20) on the Special Communication Tax was published in the Official Gazette dated 21.12.2021 and numbered 31696. This General Communiqué enters into force on 01.01.2022.
The Communiqué (Serial No: 38) on the Amendment to the General Implementation Communiqué of Value Added Tax entered into force through publication in the Official Gazette dated 21.12.2021 and numbered 31696.
The Communiqué (Serial No: 39) on the Amendment to the General Implementation Communiqué of Value Added Tax was published in the Official Gazette dated 21.12.2021 and numbered 31696. This Communiqué enters into force on 01.01.2022.
The General Communiqué (Serial No: 53) on the Inheritance and Succession Tax Law was published in the Official Gazette dated 21.12.2021 and numbered 31696. This General Communiqué enters into force on 01.01.2022.
The General Communiqué (Serial No: 54) on the Motor Vehicles Tax was published in the Official Gazette dated 21.12.2021 and numbered 31696. This General Communiqué enters into force on 01.01.2022.
The General Communiqué (Serial No: 66) on the Stamp Duty Law was published in the Official Gazette dated 21.12.2021 and numbered 31696. This General Communiqué enters into force on 01.01.2022.
The General Communiqué (Serial No: 80) on the Real Estate Tax Law was published in the Official Gazette dated 21.12.2021 and numbered 31696. This General Communiqué enters into force on 01.01.2022.
The General Communiqué (Serial No: 89) on the Fees Law was published in the Official Gazette dated 21.12.2021 and numbered 31696. This General Communiqué enters into force on 01.01.2022.
The General Communiqué (Serial No: 90) on the Fees Law was published in the Official Gazette dated 21.12.2021 and numbered 31696. This General Communiqué enters into force on 01.01.2022.
The General Communiqué (Serial No: 317) on the Income Tax was published in the Official Gazette dated 21.12.2021 and numbered 31696. This General Communiqué enters into force on 01.01.2022.
The General Communiqué (No: 534) on the Tax Procedure Law was published in the Official Gazette dated 21.12.2021 and numbered 31696. This General Communiqué enters into force on 01.01.2022.
The Communiqué (No: 2021/14) on Supporting the Conversion to the Turkish Lira Deposits and Participation Accounts entered into force through publication published in the Official Gazette (bis) dated 21.12.2021 and numbered 31696.
The Communiqué (No: 2021/15) on the Amendment to the Communiqué on Required Reserves (No: 2013/15) entered into force through publication in the Official Gazette dated 21.12.2021 and numbered 31696 (bis).
The Regulation on the Amendment to the Regulation on the Amendment of the Regulation on the Equity of Banks entered into force through publication in the Official Gazette dated 24.12.2021 and numbered 31699.
The Regulation on the Amendment to the Regulation on the Amendment of the Regulation on the Measurement and Evaluation of the Capital Adequacy of Banks entered into force through publication in the Official Gazette dated 24.12.2021 and numbered 31699.
The Regulation on the Amendment to the Regulation on the Sharing of Secret Information entered into force through publication in the Official Gazette dated 24.12.2021 and numbered 31699.
The Communiqué (No: 2022/1) on Increasing the Lower Limit of the Administrative Fine in the First Paragraph of Article 16 of the Law on Protection of Competition numbered 4054 to be valid until 31/12/2022 was published in the Official Gazette dated 24.12.2021 and numbered 31699. This Communiqué enters into force on 01.01.2022.
The Law numbered 7346 and dated 21.12.2021 on the Amendment of Certain Laws was published in the Official Gazette dated 25.12.2021 and numbered 31700. The provisions of this Law enter into force on different dates.
The Law numbered 7349 and dated 22.12.2021 on the Amendment of Income Tax Law and Some Laws was published in the Official Gazette dated 25.12.2021 and numbered 31700. The provisions of this Law enter into force on different dates.
The Regulation on the Operating Principles of Digital Banks and Service Model Banking was published in the Official Gazette dated 29.12.2021 and numbered 31704. This Regulation enters into force on 01.01.2021.
The Regulation on the Amendment to the Regulation on the Implementation Principles of Insurance Related to Personal Loans was published in the Official Gazette dated 29.12.2021 and numbered 31704. The provisions of this Regulation enter into force on different dates.
The Regulation on the Amendment to the Life Group Insurance Regulation was published in the Official Gazette dated 29.12.2021 and numbered 31704. This Regulation enters into force on 01.01.2021.
The Communiqué (No: 2021/16) on Supporting the Conversion from Gold Accounts to Turkish Lira Deposit and Participation Accounts entered into force through publication in the Official Gazette dated 29.12.2021 and numbered 31704.
The Regulation on the Amendment to the Regulation on the Principles and Rules to be Applied in Retail Trade entered into force through publication in the Official Gazette dated 30.12.2021 and numbered 31705.
The Communiqué (Communiqué No: Export 2006/7) on the Amendment to the Communiqué on Export Registered Goods entered into force through publication in the Official Gazette dated 30.12.2021 and numbered 31705.
The Communiqué on the Amendment to the Internet Domain Names Dispute Resolution Mechanism Communiqué entered into force through publication in the Official Gazette dated 30.12.2021 and numbered 31705 (2.bis).
The National Real Estate General Communiqué (No: 407) was published in the Official Gazette dated 31.12.2021 and numbered 31706. This Communiqué enters into force on 15.01.2022.
The Communiqué (Number: 2021/14) on the Amendment to the Communiqué on Supporting the Conversion to Turkish Lira Deposits and Participation Accounts entered into force through publication in the Official Gazette dated 31.12.2021 and numbered 31706.
The Communiqué (No: 2021/18) on the Amendment to the Communiqué (No: 2021/16) on Supporting the Conversion from Gold Accounts to Turkish Lira Deposit and Participation Accounts entered into force through publication in the Official Gazette dated 31.12.2021 and numbered 31706.
The Communiqué (Product Safety and Inspection: 2022/9) on Import Inspection of Some Products Required to Bear the “CE” Mark was published in the 4th Repeated Official Gazette dated 31.12.2021 and numbered 31706. This Communiqué enters into force on 01.01.2022.
The Communiqué on the Default Interest Rate to be Applied in Late Payments in the Supply of Goods and Services and the Minimum Amount of Reimbursement that Can Be Claimed for the Collection of Receivables entered into force through publication in the Official Gazette dated 02.01.2022 and numbered 31707.
The Communiqué on Determination of Interest Rates to be Applied in Rediscount and Advance Transactions entered into force through publication in the Official Gazette dated 02.01.2022 and numbered 31707.
The Regulation (Decision Number: 5072) on the Amendment to the Regulation on the Implementation of the Turkish Citizenship Law entered into force through publication in the Official Gazette dated 06.01.2022 and numbered 31711.
The Law numbered 7350 and dated 06.01.2022 on the Amendment of Certain Laws entered into force through publication in the Official Gazette dated 11.01.2022 and numbered 31716.
The Communiqué (No: 2022/1) on the Amendment to the Communiqué (No: 2021/14) on Supporting the Conversion to Turkish Lira Deposit and Participation Accounts entered into force through publication in the Official Gazette dated 11.01.2022 and numbered 31716.
The Communiqué (No: 2022/2) on the Amendment to the Communiqué (No: 2021/16) on Supporting the Conversion from Gold Accounts to Turkish Lira Deposit and Participation Accounts entered into force through publication in the Official Gazette dated 11.01.2022 and numbered 31716.
The General Communiqué (Serial No: 318) on Income Tax entered into force through publication in the Official Gazette dated 12.01.2022 and numbered 31717.
The Communiqué (No: 2021/52) on the Prevention of Unfair Competition in Imports entered into force through publication in the Official Gazette dated 15.01.2022 and numbered 31720.
The Communiqué on the Amendment to the Communiqué on the Distribution of Dividend Advances entered into force through publication in the Official Gazette dated 18.01.2022 and numbered 31723 (bis).

Mergers and Acquisitions

The Competition Board (“The Board”) authorized the acquisition of the sole control of Philip Morris SA, Philip Morris Sabancı Pazarlama ve Satış A.Ş. and Philsa Philip Morris Sabancı Sigara ve Tütüncülük Sanayi ve Ticaret A.Ş. by Philip Morris International Inc. (21.12.2021, 21-64/898-437)
The Board authorized the acquisition of the sole control of Altınay Modifikasyon Merkezi Tic. A.Ş. by RMA Holdings Limited. (23.12.2021, 21-63/893-436)
The Board decided that the acquisition of all shares of Cem Zeytin A.Ş. by Tukaş Gıda Sanayi ve Ticaret A.Ş. was not in the scope. (23.12.2021, 21-63/890-BD)
The Board authorized the acquisition of the joint control of Sierra Gorda SCM by South32 Limited through the acquisition of shares of Sumitomo Metal Mining Co Ltd and Sumitomo Corporation. (23.12.2021, 21-63/888-435)
The Board authorized the acquisition of the ultimate control of Acciai Speciali Terni S.p.A and its subsidiaries Thyssenkrupp Stainless GmbH and Thyssenkrupp Stainless Turkey Metal Sanayi ve Ticaret A.Ş.by Acciaieria Arvedi S.p.A. controlled by Finarvedi S.p.A. (23.12.2021, 21-63/887-434)
The Board authorized the acquisition of the sole control of Voith Hydro Holding GmbH & Co. KG ve Voith Hydro Holding Verwaltungs by Voith Group through JMV Hydro Beteiligungen GmbH. (23.12.2021, 21-63/884-433)
The Board decided that the acquisition of the sole control of Enerco Enerji San. ve Tic. A.Ş.by Promak Enerji Sanayi Ticaret A.Ş. was not in the scope. (27.12.2021, 21-65/900-BD)
The Board, after the withdrawal of Df Retail Holdco Coöperatief U.A. from share ownership, authorized the acquisition of sole control of Defacto Perakende Ticaret Anonim Şirketi by Zeki Cemal ÖZEN, İhsan ATEŞ, İdris ÖZÇELİK, Şahin DEMİR. (30.12.2021, 21-67/921-446)
The Board authorized the acquisition of the sole control of Rubis Tankmed B.V. by Transpet Petrolcülük ve Enerji AŞ. (30.12.2021, 21-67/915-445)
The Board authorized the establishment of a fully functional joint venture by Suez Groupe SAS and Schneider Electric Industries SAS. (30.12.2021, 21-67/914-444)
The Board authorized the acquisition of the sole control of 3S Transport ve Lojistik Hizmetleri Ticaret Anonim Şirketi by GW International Holding GmbH. (30.12.2021, 21-67/910-443)
The Board authorized the acquisition of the indirect joint control of Duravant LLC, which is under the sole control of Warburg Pincus LLC. by The Carlyle Group Inc. (30.12.2021, 21-67/909-442)
The Board authorized the acquisition of Adhesives Business Line of Eastman Chemical Company by Synthomer PLC. (30.12.2021, 21-67/908-441)
The Board authorized the acquisition of the joint control of Votener - Votorantim Comercializadora de Energia Ltda. which was under the sole control of Votorantim S.A by CPP Investments. (30.12.2021, 21-67/906-439)
The Board authorized the acquisition of the joint control of Athenahealth Group Inc. by Bain Capital Investors L.L.C. ve Hellman & Friedman LLC. (30.12.2021, 21-67/904-438)
The Board authorized the acquisition of the sole control of Aerotek Bilişim Sanayi ve Ticaret A.Ş. by team.blue Topco Sarl through Çizgi Telekomünikasyon A.Ş. (06.01.2022, 22-01/20-10)
The Board authorized the acquisition of the sole control of SPX Flow, Inc. by Lone Star Global Acquisitions, Ltd. through LSF11 Redwood Acquisitions, LLC. (06.02.2022, 22-01/11-6)
The Board authorized the acquisition of the sole control of OM Elektrik Makina Sanayi ve Ticaret A.Ş. by Schindler Türkeli Asansör Sanayi A.Ş. (06.01.2022, 22-01/10-5)
The Board authorized the acquisition of the sole control of Scientific Games Lottery, the lottery/raffle business of Scientific Games Corporation by Brookfield Asset Management Inc. through BCP Acquisitions LLC. (06.01.2022, 22-01/9-4)
The Board authorized the acquisition of the sole control of Kraton Corporation by Daelim Co. Ltd. through DL Chemical Co. Ltd. (06.01.2022, 22-01/5-2)
The Board authorized the acquisition of the sole control of Gold Harvest Kuruyemiş Gıda ve Tarım Ürünleri Sanayi ve Ticaret A.Ş. by OYAK Portföy Yönetimi A.Ş. (13.01.2022, 22-03/49-20)
The Board authorized the acquisition of the sole control of Cigna Corporation’s personal accident, supportive health and insurance business in South Korea, Taiwan, New Zealand, Thailand, Hong Kong and Indonesia and joint control of Cigna Corporation’s Joint venture in Turkey, Cigna Sağlık Hayat ve Emeklilik A.Ş. by Chubb Limited. (13.01.2022, 22-03/46-18)
The Board authorized the acquisition of the joint control of McAfee Corp by Permira Holdings Limited and Advent International Corporation. (13.01.2022, 22-03/44-11)
The Board authorized the acquisition of the sole control of Equans S.A.S. and its subsidiaries by Bouygues S.A. (13.01.2022, 22-03/32-14)
The Board authorized the acquisition of the control of Jaja Finance Holding (UK) Limited by Phantom Investments Limited through Bellis Phantom Holdco Limited and KKR & Co. Inc. (13.01.2022, 22-03/31-13)
The Board authorized the acquisition of the sole control of Hexion Coatings and Composites (US) Inc. by Westlake Chemical Corporation. (13.01.2022, 22-03/29-12)
The Board authorized the establishment of the joint control on Renaissance Learning, Inc. by Francisco Partners Management, LP and Blackstone, Inc. (13.01.2022, 22-03/26-9)
The Board, as a result of the transfer of the shares of Ahmet Galip PARALI in Uspar Tekstil Sanayi ve Ticaret A.Ş. to the current partners Ahmet USLU and Feyzi USLU, decided that the transfer of the sole control to the USLU Family is not subject to authorization. (13.01.2022, 22-03/38-BD)
The Board authorized the ultimate acquisition of the sole control of BDP Intermediate 1, Inc. by PSA International Pte Ltd. (13.01.2022, 22-03/34-15)
The Board decided that the acquisition of the asset in kind, required for the continuation of the transaction of Maren Maraş Elektrik Üretim Sanayi ve Ticaret A.Ş., by Batı Kipaş Kâğıt Sanayi ve Ticaret A.Ş. was not in the scope. (19.01.2022, 22-04/61-BD)
The Board authorized the acquisition of the sole control of B3 Ceramics Danışmanlık ve Yönetim Hizmetleri A.Ş. by Victoria Midco Holdings Ltd. (19.01.2022, 22-04/67-30)
The Board authorized the acquisition of the sole control of Arvento M2M Elektronik Sistemler Sanayi Ticaret A.Ş. by Brisa Bridgestone Sabancı Lastik Sanayi ve Ticaret A.Ş. jointly controlled by Hacı Ömer Sabancı Holding A.Ş. ve Bridgestone Corporation. (19.01.2022, 22-04/66-29)
The Board authorized the acquisition of the joint control of Kishoa, S.L. by Brookfield Asset Management, Inc through BGTF Renewable Holdings Limited. (19.01.2022, 22-04/65-28)
The Board authorized the establishment of the joint control of Mitsubishi Electric Corporation’s and its subsidiary Meiryo Technica Corporation's industrial sewing machine business by Juki Corporation and Mitsubishi Electric Corporation. (19.01.2022, 22-04/57-26)
The Board authorized the acquisition of the sole control of Luna Elektrik Elektronik Sanayi ve Ticaret A.Ş. by Landis+Gyr Group AG through Landis+Gyr AG. (19.01.2022, 22-04/55-24)
The Board authorized the acquisition of the sole control of Neste Oyj’s base oil business by Chevron Corporation through Chevron Global Energy Inc. (19.01.2022, 22-04/54-23)
The Board authorized the acquisition of all shares of Hendrix Genetics B.V., which is jointly controlled by Thijs Hendrix Beheer B.V., Montanike Beheer B.V. and NPM Capital N.V., by Hendrix Genetics Holding B.V. They also authorized the establishment of the joint control of the company, which is subject to share transfer, by Thijs Hendrix Beheer B.V., Montanike Beheer B.V. and Paine Schwartz Partners, LLC. (19.01.2022, 22-04/52-22)
The Board authorized the acquisition of the joint control of Körber Supply Chain Software Management GmbH by KKR & Co. Inc. through Horizon BidCo S.à r.l. (19.01.2022, 22-04/51-21)

Energy

The decisions of the Energy Market Regulatory Authority (“EMRA”) dated 16.12.2021 and numbered 10627, 10633, 10644, 10646, 10647 and 10648 were published in the Official Gazette dated 21.12.2021 and numbered 31696. These Decisions enter into force on 01.01.2022.
The decisions of the EMRA dated 16.12.2021 and numbered 10623, 10624, 10625, 10635, 10636, 10637, 10638, 10639, 10640 and 10641 were published in the Official Gazette dated 22.12.2021 and numbered 31697. These Decisions enter into force on different dates.
The decision of the EMRA dated 23.12.2021 and numbered 10658 was published in the Official Gazette dated 25.12.2021 and numbered 31700. This Decision enters into force on 01.01.2022.
The decisions of the EMRA dated 23.12.2021 and numbered between 10659-1 and 186 were published in the Official Gazette dated 30.12.2021 and numbered 31705 (2. bis).
The decisions of the EMRA dated 30.12.2021 and numbered 10673, 10677, 10678, 10679, 10680, 10681, 10682, 10683, 10687/1-13, 10688, 10689, 10690, 10692, 10695, 10699, 10700 were published in the Official Gazette dated 31.12.2021 and numbered 31706 (6. bis).
The decisions of the EMRA dated 31.12.2021 and numbered 10706, 10707, 10708, and 10709 were published in the Official Gazette dated 31.12.2021 and numbered 31706 (6. bis).
The decision of the EMRA dated 06.01.2022 and numbered 10712 entered into force through publication in the Official Gazette dated 08.01.2022 and numbered 31713.
The decision of the EMRA dated 06.01.2022 and numbered 10719 entered into force through publication in the Official Gazette dated 08.01.2022 and numbered 31713.
The decision of the EMRA dated 06.01.2022 and numbered 10715 was published in the Official Gazette dated 11.01.2022 and numbered 31716.

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A Recent Constitutional Court Decision on the Failure to Use Expropriated Immovables for Expropriation Purposes

In a decision dated 29.09.2021 with application number 2018/357 (“Decision”), the Constitutional Court decided by a large majority that the applicant's right to property was violated due to the fact that the immovables expropriated for the purpose of mass housing construction...

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Have Form Requirements been brought for Engagements?

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United States Economic Sanctions Regime: Iran

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Regulation on Pilotage and Towage Services

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The Start of a New Era in Turkey: Presidential System of Government - II

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The Start of a New Era in Turkey: Presidential System of Government - I

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Approach to Trust Law from a Civil Law Perspective

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Operation of Economic Enterprises by Foundations

Pursuant to Art. 101 of the Turkish Civil Code (“CC”) No. 4721, foundations are an ensemble of assets that have legal personality, which comprises of sufficient assets and rights that are allocated by real and legal persons for a determined and perpetual objective. Foundations are legal persons that have “ideal...

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Industry 4.0 and Its Impact in the Legal World

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Turkish Wealth Fund

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