CROSS-BORDER DATA TRANSFERS IN TURKEY AND TURKISH PERSONAL DATA PROTECTION BOARDS’ DECISION ON CROSS-BORDER DATA TRANSFER
5 December 2022
A DRAFT REGULATION AMENDING THE BANK CARD AND CREDIT CARD REGULATIONS HAS BEEN PUBLISHED
9 January 2023
| TAX CONSULTACY📝 |
| 50% CORPORATE TAX EXEMPTION FOR TRANSIT TRADE TRANSACTIONS TO BE CARRIED OUT IN THE ISTANBUL FINANCIAL CENTER! With the Law No. 7421 on the Amendment of the Tax Procedure Law and Certain Laws published in the Official Gazette dated November 26, 2022 and numbered 32025; 50% of the income generated from transit trade transactions carried out exclusively within the scope of these activities by the institutions operating in this region by obtaining a participant certificate in accordance with the provisions of the Istanbul Finance Center will be exempt from Corporate Tax. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. STATUTE OF LIMITATIONS ON VAT REFUND CLAIMS Article 32 of the Value Added Tax Law No. 3065 introduces a new statute of limitations for VAT refund requests; Return transactions can be provided that if they are requested until the end of the second calendar year following the period in which the exceptional transaction is processed, however, the return cannot be made otherwise. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. CAUTION FOR THE VAT REFUND REQUEST PERIOD FOR TRANSACTIONS SUBJECT TO THE DISCOUNTED RATE! Refund requests arising from transactions subject to reduced rate must be declared within the scope of VAT, which is subject to refund, in any of the declarations regarding the January-November taxation periods of the year following the year in which this transaction took place, at the latest.In addition, it is obligatory to apply to the tax offices with the standard refund request petition and the documents listed in the relevant sections of the Communiqué for refund requests until the end of the year following the year in which the transaction subject to the reduced rate has processed. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| R&D AND INNOVATION MANAGEMENT🔍 |
| RESULTS OF 1707 ORDER BASED R&D CALLS FOR THE 1ST PERIOD OF 2022 HAS BEEN ANNOUNCED! AN IMPORTANT BREAKTHROUGH OCCURED DURING THE EVALUATION PROCESS Evaluation process of 1707 order based r&d calls for the 1st period of 2022 has been completed Support decisions have been made for all of priotized R&D and innovation areas covered by the Green Deal. In the evaluation process, an important innovation has been realized and a Developable Project approach has been introduced. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. IMPORTANT CHANGES IN KOSGEB KOBİGEL SUPPORT PROGRAM! A number of changes has been made in the upper limits of support and project implementation principles within the scope of the program. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. SUPPORT LIMITS HAS BEEN INCREASED IN TEYDEB SUPPORT PROGRAMS! In the statement made by TÜBİTAK, it was announced that the upper limits of some support programs have been increased. The new upper limits stated in the statement will be valid for project applications made after November 3, 2022. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. TUBITAK 2022-2023 PRIORITIZED R&D AND INNOVATION TOPICS HAVE BEEN PUBLISHED! TUBITAK has been preparing and publicizing the “TUBITAK Prioritized R&D and Innovation Topics” works once in every 2 years since 2013. “2022-2023 TUBITAK Prioritized R&D and Innovation Topics” work, prepared this year, focuses on “green” and “digital” technologies. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. THE DECISION ON STATE AID IN INVESTMENTS HAS BEEN AMENDED! The Decree Amending the Decree on State Aids in Investments was published in the Official Gazette dated 30.11.2022 and numbered 32029. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| BUSINESS SOLUTIONS🎁 |
| SGK E-NOTIFICATION APPLICATION STARTED ACROSS TURKEY! According to the announcement made by the Social Security Institution, SGK e-Notification Application has been made available in all provinces as of 01.11.2022. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. IMPORTANT CHANGES IN THE INCOME TAX LAW 7420! Law No. 7420 on the Amendment of the Income Tax Law and Certain Laws and Decree Laws adopted by the Turkish Grand National Assembly on 03.11.2022 and was published in the Official Gazette dated 09.11.2022. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. SGK CIRCULAR ON FOOD ASSISTANCE INSURANCE EXEMPTION AMOUNT HAS BEEN PUBLISHED! With the Circular No. 2022/20 of the Directorate of Social Security Institution, the rate of the meal cost to be exempted from the premium based earnings of the insured between 01/12/2022 – 31/12/2022 has been announced. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| RISK AND LEGISLATION MANAGEMENT ⚖️ |
| THE COMMUNIQUÉ ON THE PROCEDURES AND PRINCIPLES TO BE FOLLOWED IN CASES OF LOSS OF CAPITAL OR INSOLVENCY OF COMPANIES HAS BEEN AMENDED The Communiqué on Procedures and Principles Regarding the Implementation of Article 376 of the Turkish Commercial Code No. 6102 (“Communiqué”) regulates the procedures and principles to be followed in cases of loss of capital or insolvency within the framework of Article 376 of the Turkish Commercial Code (TCC). 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. TRADE BETWEEN TURKEY AND CTR (Cyprus Turkish Republic) WILL NOW BE DONE IN TURKISH LIRA! Pursuant to the letter of the Ministry of Treasury and Finance dated 4.11.2022 and numbered 1648361, it has been stated that TL will now be taken as the basis in the trade between TURKEY and TRNC by amending paragraph 2 of Article 9 titled “Turkish Lira Export” of the Export Circular. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. INDEPENDENT AUDIT THRESHOLDS UPDATED With the Presidential Decree on “Determination of Companies Subject to Independent Audit” published in the Official Gazette dated November 30, 2022 and numbered 6434, the procedures and principles of the thresholds have been updated and the Presidential Decree will enter into force on 01/01/2023. Pursuant to the Decision, the thresholds for being subject to independent audit have been updated to be effective as of 2023. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
| NEWS FROM US📣 |
| ONLINE TRAININGS CALENDAR FOR NOVEMBER We are here with many training subjects that you would like to see from our Online Trainings in November! 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. AN OVERVIEW OF GEN Z: EXPECTATIONS FROM BUSINESS LIFE AND PURCHASING PREFERENCES REPORT HAS BEEN PUBLISHED! Our report focuses on the characteristics of Gen Z’s work life, such as their attitudes at the workplace, their work system preferences, and their purchasing preferences, which are also shaped by their acquired financial freedom. In order to see their differences and similarities with previous generations, information about previous generations is also included in our report. 👉 Please contact us via info@sistemglobal.com.tr for all of your questions and opinions. |
