February 2021 / Sistem Global Newsletter Summary
22 March 2021
CORPORATE TAX RATE HAS BEEN INCREASED WITH LAW NUMBER 7316
22 April 2021
R&D AND INNOVATION MANAGEMENT
A NEW ERA FOR THE INITIATIVE
The list of products to be supported in order to ensure domestic production in seven sectors of focus and to improve production capacity within the scope of the Teknoloji Odaklı Sanayi Hamlesi (Technology-Oriented Industry Initiative) project, which aims to increase value-added production and ensure that Turkey achieves a medium-high and high technology level, has now been published.Please contact us via info@sistemglobal.com.tr for all of your questions and opinions.  

REMOTE WORKING PERIOD FOR TECHNOLOGY PARKS AND R&D/DESIGN CENTERS EXTENDED
Upon the notification of the Ministry of Industry and Technology’s General Directorate of R&D Incentives, it was decided to extend the remote working period that ended on February 28, 2021, provided that the number of personnel subject to notification who have been employed in line with the law in the relevant organizations, or the total working time corresponding to the personnel subject to notification does not exceed 60% between March 1-31, 2021, and 50% between April 1-30, 2021.

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RISK AND LEGISLATION MANAGEMENT
 REGULATION ON REMOTE WORKING ENTERS INTO FORCE
Article 14 of the Labor Law on Remote Working (the “Law”) regulates the principles and procedures on remote working, the types of work that shall not be subject to remote working considering the nature of such work and the implementation of the operating rules regarding protection and sharing of data. Said article also states that other related matters shall be determined by the regulation enforced by the Ministry of Family, Labor and Social Services. The Regulation on Remote Working (the “Regulation”) drafted in this scope was enacted after being published in the Official Gazette dated March 10, 2021 and numbered 31419.

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TIME EXTENSION FOR REGISTERING WITHIN THE VERBIS SYSTEM ANNOUNCED
Through its resolution dated March 11, 2021 and numbered 2021/238, the Personal Data Protection Committee (the “Committee”) has decided to extend the time period given to register within the compulsory VERBIS (“Data Controllers’ Registry Information System”).

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JOINT-STOCK COMPANIES AND LIMITED-LIABILITY COMPANIES MUST HOLD GENERAL ASSEMBLY MEETINGS
Pursuant to Paragraph 1, Article 409 and Article 617 of the Turkish Commercial Code No. 6102 (the “TTK”) as well as the Regulation on the Principles and Procedures Governing General Assembly Meetings for Joint-Stock Companies and Representatives of the Ministry of Customs and Trade Present at these Meetings (the “Regulation”), joint-stock companies and limited-liability companies are obliged to hold an ordinary general assembly meeting every year within three (3) months following the end of their accounting period.

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INDEPENDENT AUDIT
 NOTICE OF A CHANGE TO THE CENTRAL BANK OF THE REPUBLIC OF TURKEY’S INDEPENDENT AUDIT OBLIGATION
The independent audit obligation that applies to any firms with foreign currency cash credits and foreign exchange loans worth equivalent to or more than USD 15 million making any declarations on the Central Bank of the Turkish Republic’s (the TCMB) Systematic Risk Data Tracking System has been ended as of 2021.

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FROM SİSTEM GLOBAL
APRIL SCHEDULE FOR ONLINE COURSES
We are back in April with our Extensive Online Training Courses on Various Interesting Topics!

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