February 2023 / Sistem Global Newsletter Summary
7 March 2023
THE SUMMARY OF GUIDELINES 01/2022 ON DATA SUBJECT RIGHTS – RIGHT ACCESS
28 April 2023
| TAX REGULATION & CONSULTING 📈 |
| IMPORTANT REGULATIONS ON CORPORATE TAX DEDUCTION With the regulation dated 01/03/2023, amendments were made to the Corporate Tax General Communiqué No. 1 (serial numbered 1) regarding the discount in capital increase, taxation in capital decrease, and discount applications in the earnings obtained by the institutions operating in the Istanbul Finance Center Region. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. TAX ADVANTAGES FOR EARTHQUAKE ZONES The first part of the New Amnesty and Restructuring Law proposal, consisting of 12 articles, adopted in the General Assembly of the Grand National Assembly of Turkey on 08.03.2023, and the regulations to eliminate the effects of the earthquakes centered in Kahramanmaraş has passed by the parliament. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. NEW AMNESTY LAW ENACTED The Law on the Restructuring of Certain Receivables and Amendments to Certain Laws has adopted by the parliament on 08.03.2023-09.03.2023 and entered into force. Although the regulation is characterized as an Amnesty Law, it also contains additional data to overcome the effects of the earthquakes centered in Kahramanmaraş. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. EARTHQUAKE TAX DETAILS ANNOUNCED In our previous bulletins, we announced that companies will be charged an additional 10% tax (earthquake tax) on the deductions and exemptions that are subject to deduction in their declarations for 2022 income. For details, you can find our article on the earthquake tax in our bulletin. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. TAX BASE AND TAX INCREASE We will be covering all the contents of the amnesty law in a series of bulletins to inform you. To access our first series of articles titled Tax Base and Tax Increase; 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. ADJUSTMENT OF BUSINESS RECORDS TO THEIR ACTUAL STATUS To access our second series of articles on Tax Amnesty Law published in the Official Gazette, titled Making Business Records Compliant with their Actual Status; 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. RESTRUCTURING FOR DISPUTED RECEIVABLES OR RECEIVABLES UNDER REVIEW AND ASSESSMENT To access our third article series titled Restructuring for Disputed Receivables or Receivables with Ongoing Examination and Appraisal Procedures, which we have prepared specifically for the Tax Amnesty Law published in the Official Gazette; 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. RESTRUCTURING AND OTHER ARRANGEMENTS INCLUDING SGK RECEIVABLES, FINALIZED RECEIVABLES TO SOME PROFESSIONAL CHAMBERS SUBSTITUTE FOR PUBLIC INSTITUTIONS To access our fourth and final article series titled Restructuring and Other Arrangements, including SGK Receivables, Finalized Receivables to Certain Public Institutions and Professional Chambers, which we have prepared specifically for the Tax Amnesty Law published in the Official Gazette; 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. MARCH 31 IS THE LAST DAY TO BENEFIT FROM ASSET AMNESTY! Real and legal persons will be able to benefit from the Asset Amnesty application by reporting and declaring some of their assets located abroad and in Turkey until March 31, 2023. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. DEADLINE FOR INCOME TAX DECLARATION OF 2022 IS MARCH 31! According to the Income Tax Law, taxpayers are obliged to submit an annual declaration for their income and revenues obtained within a calendar year arising from income elements related to commercial earnings, agricultural earnings, wages, self-employment earnings, real estate capital revenues, movable capital revenues, other earnings and revenues. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. TCMB IMPOSES NEW REPORTING OBLIGATION ON COMPANIES WITH 5 MILLION LOAN BALANCES! Pursuant to the TCMB’s instruction on Foreign Exchange Position Reporting of Legal Entities dated March 20, 2023, legal entities other than banks and financial institutions defined in the Banking Law No. 5411, which have a total cash and non-cash loan balance of TRY 5 million or more from domestic banks, are required to report their foreign exchange position reports to the CBRT within the first 10 business days of each month. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. REMOTE WORKING RATE WILL BE APPLIED AS 100% FOR TEKNOKENTS, R&D AND DESIGN CENTERS IN EARTHQUAKE ZONES! To be applied as of 06.02.2023, the opportunity to work remotely has been changed to 100% for Teknokent, R&D and Design Center enterprises in Adana, Adıyaman, Diyarbakır, Gaziantep, Elazığ, Hatay, Kahramanmaraş, Kilis, Malatya, Osmaniye and Şanlıurfa provinces where the state of emergency has been declared. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. DECLARATION/NOTIFICATION DEADLINES EXTENDED! The deadline for the submission of the Annual Income Tax Declarations for the Calendar Year 2022, which must be submitted by the end of March 31, 2023, and the payment periods of the taxes accrued on these declarations have been extended until the end of Wednesday, April 5, 2023, In addition, the deadline for submitting “Form Ba” and “Form Bs” notifications for the 2023/February period and the deadline for uploading “Electronic Ledger Certificates” has been extended until the end of Friday, April 7, 2023. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| R&D AND INNOVATION MANAGEMENT 🔍 |
| UPDATE ON PROGRAMS TO BE SUPPORTED The “Basic Sciences” support benefited by R&D Centers and companies operating in Technology Development Zones has been expanded as “Programs to be Supported”, with the amendment made in 2021. In line with the opinions received from the Presidency of the Council of Higher Education; within the scope of the Programs to be Supported, it has been decided to add some more programs in addition to mathematics, physics, chemistry and biology departments. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. SOME INVESTMENTS WITH INVESTMENT INCENTIVE CERTIFICATES IN THE EARTHQUAKE ZONE WILL BE CONSIDERED COMPLETED “Presidential Decree on Measures Taken Regarding Regional Development and Investment Incentives under the State of Emergency” was published in the Official Gazette on 12.03.2023. According to the published decree, some investments with investment incentive certificates in cities located in the earthquake zone will be considered completed. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. KOSGEB SUPPORT FOR ENTREPRENEURS IN ANKARA – UP TO 1,000,000! KOSGEB published a support program for new initiatives in Ankara to develop new products and technologies for strategic industries such as defense and aerospace, medical devices, IT/digitalization and finance. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. KOSGEB INCREASES THE UPPER LIMIT OF “QUALIFIED PERSONNEL SUPPORT” IN INDUSTRY! KOSGEB renamed it’s “Qualified Personnel Support” as “Qualified Personnel Support in Industry” and increased the support from 50,000 TL to 100,000 TL. The upper limit of the Support for Qualified Personnel in Industry for enterprises operating in Technoparks, R&D Centers and Design Centers has been increased to 150,000 TL. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| BUSINESS SOLUTIONS🎁 |
| EYT ENTERED INTO FORCE, APPLICATIONS STARTED The Law No. 7438, known as the “Law on People at Retirement Age (EYT)”, which was adopted by the parliament on 01.03.2023, has been published in the Official Gazette today and entered into force. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. NO NEED TO GO TO SGK FOR THE “PENSIONER” LETTER! Law No. 7438, known in the public as the “Law on Those of Age at Retirement (EYT)” has been entered into force after being published in the Official Gazette today and retirement applications started. Employers directed the insured to the institution before quitting the job and asked them to get a “Retirement” letter. The SGK published an announcement due to the intensity of the rush. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. “STRUCTURING TRANSACTIONS NUMBERED 7440 ” SECTION HAS BEEN ADDED TO THE SGK EMPLOYER SYSTEM! Following the publication of the SGK Circular 2013/14 on “Restructuring of Receivables” in accordance with Law No. 7440, the menu “Restructuring Procedures No. 7440” has been added to the SGK Employer System. Employers with an active debtor registry will be able to make their applications from the “Restructuring Transactions No. 7440” section added to the Restructuring menu in the SGK Employer System. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. EARTHQUAKE AIDS TO BE MADE TO EMPLOYEES ARE WITHIN THE SCOPE OF EXEMPTION! SGK Circular 2023/15 clarified the procedures and principles regarding the exemption of earthquake aid up to 50.000 TL to be made to employees from premium based earnings, which is included in the Law No. 7440. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. THE DEADLINE FOR SUBMISSION OF WITHHOLDING AND PREMIUM SERVICE DECLARATIONS FOR FEBRUARY HAS BEEN EXTENDED The deadlines for the submission of withholding and premium service, accommodation tax, stamp duty and value added tax declarations and the payment of taxes accrued on these declarations have been extended until the end of Friday, March 31, 2023. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. APPLICATIONS FOR THE EYT SUPPORT PACKAGE HAVE STARTED! Within the framework of Law No. 7438, the details of the Credit Guarantee Fund EYT Support Package service have been clarified and applications to banks have started in order to provide the financing needs of companies that will pay severance payments to their employees due to retirement. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| RISK AND REGULATORY MANAGEMENT ⚖️ |
| THE LIMIT FOR FORGIVEN RECEIVABLES IN PERSONAL LOANS HAS BEEN UPDATED Pursuant to the communiqué published in the Official Gazette, the procedures and principles regarding the liquidation of receivables have been revised to be effective as of 03.03.2023. The principles regarding the procedures to be carried out before the waiver, the payment, the procedures to be carried out by the ministry and the TMSF, and the procedures regarding the execution files are specified. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. HAVE YOU HELD YOUR ORDINARY GENERAL ASSEMBLY MEETINGS? Pursuant to the relevant articles of law, joint stock companies and limited liability companies are required to hold their ordinary general assembly meetings within three (3) months (no later than March 31) following the end of the accounting period each year. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| EXPORTS AND INTERNATIONAL GROWTH 🌍 |
| TRADE AGREEMENTS BETWEEN TURKEY AND SINGAPORE AND THEIR IMPACT ON EXPORTS With the impact of globalization and increasing trade, countries have turned to various regional and bilateral agreements. Singapore, one of the world’s important financial and port countries, also acts as a bridge to enter the markets in the Asia Pacific region. In this context, various bilateral agreements have been made between Turkey and Singapore to increase the foreign trade momentum. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| NEWS FROM US📣 |
| ONLINE TRAININGS SCHEDULE FOR APRIL In April, we are here with many training titles that you will want to see from our Online Trainings! 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
