April 2021 / Sistem Global Newsletter Summary
31 May 2021
June 2021 / Sistem Global Newsletter Summary
12 July 2021
| RISK AND LEGISLATION MANAGEMENT 📚 |
| DEADLINES FOR SUBMISSION OF CHEQUE UPDATED A series of amendments were introduced pursuant to Article 15 of the Law No. 7318 on Certain Amendments to the Tax Procedural Law and to Certain Laws published on April 30, 2021 and accepted on 29.04.2021. Notification on the amendment was published on the Official Gazette. 👉 Click here for detailed information |
| SUMMARIES OF THE DECISIONS PUBLISHED BY THE PERSONAL DATA PROTECTION AUTHORITY ON 18.05.2021-1 Regarding the Summary of Decision no. 2021/389 of 20/04/2020 of the Personal Data Protection Authority; 👉 Click here for detailed information |
| SUMMARIES OF THE DECISIONS PUBLISHED BY THE PERSONAL DATA PROTECTION AUTHORITY ON 18.05.2021-2 Regarding the Summary of Decision no. 2021/140 of 25/02/2021 of the Personal Data Protection Authority in respect to “internet services offered by municipalities”; 👉 Click here for detailed information |
| CHANGES IN THE GENERAL ASSEMBLY MEETINGS OF JOINT STOCK COMPANIES A number of amendments were made in relation to the Regulation on the Procedures and Principles of General Meetings of Joint Stock Companies and Attendance of Ministry’s Representatives to Such Meetings, as published in the Official Gazette no. 31495 of 29.05.2021. Parallel to the previous amendments in the Turkish Commercial Code regarding bearer share certificates, changes were made concerning how owners of bearer share certificates can attend in general board meetings. While certain facilitating measures are brought for general assembly meetings to be organized until 31 December 2021 under the transitional provision, it is essential for companies and individuals owning bearer share certificates to adapt to the changes by 31 December 2021. 👉 Click here for detailed information |
| TAX CONSULTACY 📝 |
| SCT HIKES ON FUEL AND OTHER PETROLEUM PRODUCTS The SCT Amounts levied on fuel and other petroleum products are determined by Sheet (A) of List (I) annexed to Special Consumption Tax Law No. 4760 with Presidential Decree No. 3994 introducing amendments to the SCT amounts levied on these products. The said decision was published in the Official Gazette no. 31846 of 20 May 2021 and entered into force on the same day. The Ministry of Treasury and Finance was authorized to establish the procedures and principles for the implementation of the Presidential Decree on the Amendment. 👉 Click here for detailed information |
| A NEW ROUND OF ECONOMIC RELIEF PAYOUTS FOR SHOPKEEPERS/ARTISANS AND REAL PERSON TRADESMEN! Earlier, the government had taken a decision to defer for 3 months and without added interest the repayment of the loan debts (both principal and interest) of shopkeepers and artisans, who sought financial help, to Halkbank due to reduced business activity during the Covid 19 pandemic. Also, essential public aids were offered to provide other forms of financial relief, from a Support Package for Shopkeepers to the Loan Support To Keep Businesses Afloat, from the postponement of social security/ self-employment premium payments to the short-time work allowance, rent subsidies and rearrangement of trade registries. Presidential Decree No. 3998, published in the Official Gazette no. 31487 of 21 May 2021, provides non-repayable financial relief to Shopkeepers and Artisans from sectors determined to have been worst hit during the pandemic by the Ministry. 👉 Click here for detailed information |
| STOCK CORPORATIONS CANNOT DISTRIBUTE TAX-FREE DIVIDENDS BY ACQUIRING THEIR OWN SHARES! Ability of corporations to acquire their own shares is regulated as per Sections 379-389 of the Turkish Commercial Code No. 6102. The fiscal aspect of the aforementioned regulation has been controversial for a long time. Along with Act No. 7256, which entered into force on 17/11/2020, the tax withholding ruling, which imposes a 15% tax withholding implementation under certain conditions, was included in the Corporation Tax Act along with the CORPORATION TAX GENERAL COMMUNIQUE WITH SERIAL NUMBER 18, published in the Official Gazette No. 31491 of 25 May 2021. 👉 Click here for detailed information |
| LIMITATION OF FINANCIAL EXPENSES INTRODUCED FOR COMPANIES WITH FOREIGN RESOURCES LARGER THAN THEIR EQUITY CAPITAL! CORPORATION TAX GENERAL COMMUNIQUE WITH SERIAL NUMBER 18, entered into force by being published in the Official Gazette No. 31491 of 25 May 2021 sets out the implementation principles around the “Financial Expenditure Restraint” ruling. 👉 Click here for detailed information |
| R&D AND INNOVATION MANAGEMENT 🔍 |
| REMOTE WORKING HOURS OF EMPLOYEES WORKING IN R&D AND DESIGN CENTERS AND TECHNOLOGY DEVELOPMENT ZONES UPDATED! To prevent disruption of activities at R&D and Design Centers and those within the district borders in accordance with the law on Technology Development Zones, employees are now allowed to work remotely full-time, as opposed to a ruling in May 2021 which foresaw 60% of work done remotely. 👉 Click here for detailed information |
| FULL SUPPORT FOR THE PRODUCTION OF TECHNOLOGY PRODUCTS USING DOMESTIC RESOURCES! The priority product lists of the “Technology Oriented Industrial Progress Program” for 2021, executed by the T.R. Ministry of Industry and Technology since 2019 to create a Powerful National Industry and reduce the foreign trade deficit with value-added products, were released in February, while the legislative amendments and the Mobility call were announced in April. 👉 Click here for detailed information |
| 7 FAQs ABOUT THE PROGRAM We have compiled the most frequently asked questions from our companies as part of the work we have been doing under the “Technology Oriented Industrial Progress Program” run by the T.R. Ministry of Industry and Technology of which Sistem Global is an accredited Independent Assessor. 👉 Click here for detailed information |
| NEWS ABOUT US 📣 |
| JUNE SCHEDULE FOR ONLINE TRAINING COURSES… We are back in June with our Extensive Online Training Courses on Various Interesting Topics! 👉 Click here for detailed information |
| ENTER THE UK MARKET WITH E-CONSULTANT! Having launched our “Global Ticaret-e Başla” (Introduction to Global e-Trade) services via our e-Consultant platform, we now provide you with online professional consultancy and operational support to help you get a foothold in global markets, regardless of your location and timezone. Get your company set up hassle-free and effortlessly by our dedicated team of experts. If you wish your company to operate on a global scale and open up to new markets or increase your exports, it’s time to visit edanisman.com.tr! 👉 Click here for detailed information |
| A ROBOTIC LEG-UP FOR SMEs ON THEIR DIGITAL JOURNEY RPA Sistem Global Danışmanlık and Robusta have collaborated to enable SMEs to take the first step towards digitalization with RPA (Robotic Process Automation). Process analytics applications required to increase business efficiency and ensure their profitable growth are offered by Sistem Global, and Robusta weighs in with its RPA solutions used in automating improvement projects created as a result of process analytics. 👉 Click here for detailed information |
