Scope of Application of Turkish Sustainability Reporting Standards Amended
The Board Decision (Amending Decision) dated 16.12.2024 and numbered 01/28294 of the Public Oversight, Accounting and Auditing Standards Authority regarding the amendment of the scope of application of the Turkish Sustainability Reporting Standards (TSRS) is published in the Official Gazette dated 18.12.2024 and numbered 32756.
With the Amending Decision, the Board Decision (Decision) numbered 01/21634 on the Scope of Application of Turkish Sustainability Reporting Standards is amended and the scope of companies obliged to apply TSRS in preparing sustainability reports has been narrowed. The amendments to Article 3 of the Decision are listed below.
- In the Decision, “joint stock companies whose capital market instruments are traded on a stock exchange or other organized markets, or which have a prospectus or issue document approved by the Capital Markets Board with a validity period for their trading” were included among the companies that were obliged to apply the TSRS. This expression has been changed to “corporations traded on stock exchanges, except for corporations whose shares are traded on the Watchlist Market (WL) of Borsa Istanbul A.Ş. (BIST) or the Venture Capital Market (VCM) for sale to qualified investors”.
- Joint stock companies that are not traded on a stock exchange or other organized markets but issue capital market instruments other than shares without public offering or have a valid issuance certificate approved by the Capital Markets Board for this purpose are excluded from the scope of organizations that are obliged to apply TSRS in the preparation of sustainability reports.
- Banks and other financial institutions subject to the regulation and supervision of the Banking Regulation and Supervision Agency as specified in subparagraph (b) of Article 3 of the Decision, whose shares are not traded on the BIST and whose number of branches does not exceed 1 or whose number of employees does not exceed 250 as of the end of the previous year, are not required to prepare a sustainability report for the first two reporting periods in which they are exempt from the obligation to disclose greenhouse gas emissions within the scope of Provisional Article 3 of the Decision.
The amendments are effective for annual periods beginning on or after 01.01.2024.
All rights of this article are reserved. This article may not be used, reproduced, copied, published, distributed, or otherwise disseminated without quotation or Erdem & Erdem Law Firm's written consent. Any content created without citing the resource or Erdem & Erdem Law Firm’s written consent is regularly tracked, and legal action will be taken in case of violation.
Other Contents
Borsa Istanbul A.Ş. (Borsa İstanbul) amended the Listing Directive on 31.12.2024. With the amendments made on 31.12.2024, the minimum market values of shares offered to the public, traded on the BIST Stars, BIST Main, and BIST SubMarket are as follows...
The Capital Markets Board Decision (Decision) dated 26.12.2024 and numbered 66/2058 is published in the Capital Markets Board Bulletin dated 31.12.2024 and numbered 2024/60. With the Decision, the amounts subject to revaluation in the Capital Markets Law No. 6362 and other regulations issued based on...
Significant legislative amendments to the anti-money laundering and combating the financing of terrorism regulations were introduced and published in the Official Gazette dated 25.12.2024 and numbered 32763 (Legislative Amendments)...
The Capital Markets Board (CMB) amended the Communiqué on Principles Regarding Venture Capital Investment Funds (II-52.4) (VCIF Communiqué) through the “Communiqué Amending the Communiqué on Principles Regarding Venture Capital Investment Funds (III-52.4)” (III-52.4.c) which was published in the...
The Capital Markets Board of Turkey (CMB) has issued Decision No. i-SPK.128.23 (dated 19/09/2024 and numbered 1508) (Decision No. 128.23) with the Capital Markets Board Bulletin published on 19.09.2024...
The Capital Markets Board (CMB) published the Decision No. i-SPK.35.B.1 (dated 19/09/2024 and numbered 1484) (Decision) with the Capital Markets Board Bulletin published on 19.09.2024...
Law No. 7518 on the Amendment to the Capital Markets Law (Crypto Assets Law) added Article 35/B titled “Provisions regarding crypto asset service providers and crypto assets” to the Capital Markets Law No. 6362 (CML) and authorized the Capital Markets Board (Board) to determine the principles and procedures...
Under its Decision numbered 18/470 and dated 28.03.2024, the Capital Markets Board (CMB) announced that the applications of issuers, institutions, and organizations within the scope of the Central Registry System (MERSIS), which fall under the jurisdiction of the CMB's Corporate Finance Department...
The Communiqué (III-52.3.f) Amending the Communiqué (III-52.3) on Principles Regarding Real Estate Investment Funds (Communiqué) entered into force through its publication in the Official Gazette dated 17.07.2024 and numbered 32604. With the Communiqué, real estate investment funds (REIFs) are given the...
The Law Amending the Capital Markets Law (Crypto Assets Law) entered into force after being published in the Official Gazette dated 02.07.2024. The Crypto Assets Law amended the Capital Markets Law (CML) dated 06.12.2012 and numbered 6362 and included provisions on crypto assets within the scope of...
Draft Law on Amendments to the Capital Markets Law No. 6362 (Draft Crypto Assets Law) was submitted to the Grand National Assembly of Türkiye. The Draft Crypto Assets Law envisages amendments to the Capital Markets Law dated 6.12.2012 and numbered 6362 (CML). The following additions and...
The announcement (Announcement) under the Capital Markets Board (CMB) Decision No. 18/470 was published in the Capital Markets Board Bulletin dated 28.03.2024 and numbered 2024/17...
Capital Markets Board's (CMB) Resolution numbered i-SPK 128.22 (Resolution) was published in the Capital Markets Board Bulletin dated 28.03.2024 and numbered 2024/17...
Under the Capital Markets Board Decision dated March 7, 2024, and numbered 14/382, the Capital Markets Board Decision dated December 28, 2023, and numbered 81/1820 (Board Decision) was published in the Capital Markets Board Bulletin dated 07.03.2024 and numbered 2024/14. The Capital Markets Board...
The Capital Markets Board Decision dated February 29, 2024, and numbered 13/337 (Board Decision) was published in the Capital Markets Board Bulletin dated 29.02.2024 and numbered 2024/13. Under the Board Decision, amendments were made to the sections titled “Fund Types” and “Principles Regarding...
The Communiqué Amending the Communiqué on Principles Regarding Mutual Funds (III-52.1) (III-52.1.E) (Communiqué) entered into force upon publication in the Official Gazette dated 01.03.2024 and numbered 32476. The Communiqué published by the Capital Markets Board focuses on the amendments regarding...
The Capital Markets Board Decision dated February 16, 2024 and numbered 11/255 (Board Decision) was published in the Capital Markets Board Bulletin dated 16.02.2024 and numbered 2024/11. Pursuant to the Board Decision, the Principles of Responsible Management (Principles) were added to the Guidelines on...
The announcement (Announcement) made pursuant to the Capital Markets Board Decision dated 08.02.2024 and numbered 9/221 (Board Decision) was published in the Capital Markets Board Bulletin dated 08.02.2024 and numbered 2024/9. The Announcement includes explanations regarding the application...
The Capital Markets Board Decision (Decision) dated 28.12.2023 and numbered 81/1811 is published in the Capital Markets Board Bulletin dated 29.12.2023 and numbered 2023/82. With the Decision, the amounts subject to revaluation in the Capital Markets Law No. 6362 and other regulations issued based on...
The Communiqué on the Principles Regarding the Companies whose Shares to be Traded on the Venture Capital Market (II-16.3) (Communiqué) has entered into force through publication in the Official Gazette dated 18.05.2023 and numbered 32194. The Communiqué sets out the principles and procedures regarding...
Through the promulgation of President Decision No. 6434 (“Decision”) published in the Official Gazette dated 30th November 2022 and No. 32029, the procedures and principles regarding the companies subject to independent audit within the scope of Article 398 of the Turkish Commercial Code...
Following the press release of the Ministry of Treasury and Finance, on 09.06.2022 the Capital Markets Board announced its Measures to Strengthen Financial Stability to establish the "Commodity Market" and initiate its internal processes regarding issuance of gold certificates...
Article 38/2 of the Capital Movements Circular published by the Turkish Central Bank on 02.05.2018 (“Circular”) has been amended with the letter of Ministry of Treasury and Finance dated 08.02.2022 and numbered...
The Communiqué Regarding Issuance of Secured Capital Market Instruments (II-31/B.1) (“Communiqué”) entered into force through its publication in the Official Gazette dated 26.01.2022 and numbered 31731...
The Communiqué on Corporate Governance has been amended
Announcement on the Value of the Lease Contracts made in Foreign Currency and Indexed to Foreign Currency is published
Amendment to the Regulation on Foreign Direct Investments Law
Corporate Tax Rate Discount for Some Institutions Whose Shares Are Offered to the Public for the First Time
The Communiqué (No: 2008-32/34) on Decree No. 32 has been changed
The Amendments on the Circular on Capital Movements
Second Extension of the Period Designated for Submission of the First Country by Country Report
The Amendments on the Circular on Capital Movements
The Amendments on the Circular on Capital Movements
The Amendments on the Circular on Capital Movements
Amendments to the Communiqué on Decree No. 32 on the Protection of the Value of Turkish Currency (No: 2018-32/45)