June 2023 / Sistem Global Newsletter Summary
18 July 2023
September 2023 / Sistem Global Newsletter Summary
11 October 2023
| TAX REGULATION & CONSULTING 📈 |
| CBRT SUMMARY FOREIGN EXCHANGE POSITION FORM OBLIGATION POSTPONED TO JANUARY 2024 According to the CBRT’s letter to private banks dated 02.07.2023 and numbered E-TCMB.80372040-010.07.01-1220, the reporting obligation for all covered firms has been postponed to start from the January, including firms with a loan balance of TRY 50 million or more.. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. ADDITIONAL TAXES PRESENTED TO PARLIAMENT! In order to compensate for the economic losses caused by the earthquakes, the Law Proposal on Additional Motor Vehicles Tax and Amendments to Certain Laws and Decree Law No. 375 has been submitted to the parliament as of today. We have compiled the highlights of the regulations in the Law Proposal for you. We will inform you separately when the law enacts. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. VALUE-ADDED TAX RATES INCREASED! On July 07, 2023, the “Presidential Decree Amending the Decree on the Determination of Value Added Tax Rates Applicable to Goods and Services” was published in the Official Gazette dated July 07, 2023 and numbered 32241. With this decision, the general VAT rate was increased from 18% to 20% and the 8% reduced VAT rate was increased to 10%. The 1% reduced VAT rate remains intact. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. RECENT TAX CHANGES On July 7, 2023, a number of tax regulations were made with the Presidential Decrees published in the Official Gazette. We have compiled the changes made in this context for you. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. REGULATION ON ISTANBUL FINANCIAL CENTER LAW NO. 7412 TAKES EFFECT! CURRENT TAX CHANGES The Istanbul Finance Center Law No. 7412, which grants significant exemptions and exceptions to its participants, was published on 22.06.2022, and its scope was announced to you in our previous bulletins. Although the law was published, the regulation was awaited for implementation. The implementation regulation of the Istanbul Finance Center Law No. 7412 entered into force with the Official Gazette dated 07.07.2023. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. CERTAIN AMENDMENTS TO BE MADE TO THE TAX LAWS WITH THE NEW REGULATIONS INTRODUCED With the Official Gazette dated July 15, 2023 and numbered 32249, important amendments were introduced. These amendments aim to compensate for the economic losses caused by the February 6 Kahramanmaraş earthquakes and regulate many areas in this direction. In this context, we have compiled the new regulations and the regulations envisaged to be made in the tax laws for you. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| R&D AND INNOVATION MANAGEMENT 🔍 |
| BENEFIT FROM FUNDING SUPPORT FOR YOUR R&D PROJECTS! Eurostars is a funding instrument supporting internationally collaborative R&D and innovation projects. Through this scheme, SMEs and their project partners (large companies, universities, research institutions and other types of organizations) can access public funding for internationally collaborative R&D projects. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| BUSINESS SOLUTIONS🎁 |
| NEW SEVERANCE PAY CEILING ANNOUNCED! July 2023 Circular on Financial and Social Rights was published on 07/07/2023. Pursuant to Article 2 of the Circular, the annual ceiling amount of the severance pay to be paid to the employees as of 01/07/2023 has been 23,489.83 TL. Ceiling amount of severance pay for the period 01/07/2023 – 31/12/2023 in accordance with the Circular; • Gross 23.489,83 TL • Net 23.311,54 TL 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| LEGISLATION AND RISK MANAGEMENT ⚖️ |
| IMPORTANT STATEMENT FROM THE EUROPEAN DATA PROTECTION BOARD ON LAPTOP CAMERAS! A letter was submitted by a Member of the European Parliament to the European Data Protection Board (EDPB) regarding the requirement that all new laptops entering the EU market must be equipped with a physical camera case based on Article 25 of the GDPR. In response to this letter, the EDPB issued an important statement on laptop cameras and privacy on July 7, 2023 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| EXPORTS AND INTERNATIONAL GROWTH 🌍 |
| GLOBAL TRADE EXPECTATIONS FOR 2023 – 2024 AND TURKEY’S EXPORT PROJECTIONS The global economy grew by approximately 6.2% in the post-pandemic period. However, it signaled a slowdown due to the Ukraine-Russia crisis in 2022, which still continues to have an impact, and the global inflationary environment. The rise in commodity prices following the supply and energy crisis in the global trade in goods has directly affected the unit value of Turkey’s exports, which remains below the global unit value. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| NEWS FROM US📣 |
| ONLINE TRAININGS SCHEDULE FOR JULY We are here with many training titles that you will want to see from our Online Trainings in July! 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
