Budget result of the first month of 2019 has been published by Ministry of Treasury and Finance. For the first month central budget result indicates 5 Billion TL surplus. Budget balance for same month of previous year was 1,7 billion TL plus. Performance of revenue and tax refund side of the budged detailed as follows.
Turkish tax authority has started not to apply provision of tax treaties to dividend derived by non-resident from shares of Turkish resident listed companies.
Presidency of Republic of Turkey has issued a new decree regarding taxation of payment made by Turkish resident to non-resident for internet commercial services.
Le salaire minimum en Turquie passe de 1404 lires turques par mois à 1603 lires par mois à partir de 2018, après accord avec les parties prenantes", a déclaré le Ministère de l'Emploi et de la Sécurité Sociale Jülide Sarıeroğlu lors d'une conférence de presse. Le nouveau salaire minimum brut, avant les déductions comme les primes de sécurité sociale et les impôts sur le revenu, est de 2 029 lires.
Capitalism aims to achieve maximum profit by ignoring the environment and society. Lately, this has resulted in many social and environmental scandals, destroying the public’s confidence in companies and markets.
Technology and the rapidly changing conditions of the modern world force companies to review their management and budget systems. In order to maintain a sustainable company, company management must optimize available financial resources via controlling and planning.
A mediation center has opened at the Anatolia Courthouse located in the Kartal district of Istanbul in order to resolve legal conflicts between individuals before they go to court. Within the installation of the mediation system, conflicts between individuals will be resolved quickly because there will be no trial process.
According to the Turkish Labor Law employers and employees are required to give specified notification periods prior to the termination of an employment contract, as shown in the following table.
Turkish Government is planning to introduce exemption from value added tax on the property that has been sold to non-resident individuals and corporations. Standard VAT rate is 18% in Turkey. There are certain conditions for the exemptions.
The Law on International Labor Force which came into force on August 13, contains important changes for work permits system in Turkey for foreigners. The new law regulates foreigners’ entry into the Turkish labor market in a more extensive and disciplined way. Although there is no significant change in terms of work permit/visa procedures, some flexibilities for specific categories of professions are introduced in different sections of the new law.
Turkey’s Parliament has enacted a Law on Supporting Project Based Investments. The Law has been published in the Official Gazette. The Law has authorized the Council of Ministers to grant incentives for project-based investments. A decision from Council of Ministers regarding project based investments has been published in the Official Gazette. The decision has clarified the principles and procedures regarding project-based incentives.
Turkish Participation Exemption For Domestic Subsidiaries, Dutch Participation Exemption For Domestic Subsidiaries
The 32nd Ministerial Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC), an intergovernmental body affiliated with the Organization of Islamic Cooperation (OIC) was held at Istanbul Congress Center from November 21 to 24, 2016 under the auspices of the President of the Republic of Turkey with the attendance of 57 member and 5 observer government delegations.
Stating that the overall market value of companies registered with Istanbul Stock Exchange totals approximately 600 billion liras, Deputy Prime Minister Nurettin Canikli revealed the Government plans to lift current administrative and economic obstacles before Islamic finance to further deepened Turkish financial markets by attracting a bigger proportion of international funds that seek a stable and secure place.
Upon the question regarding the ongoing negotiations between USA and European Union with respect to Transatlantic Trade and Investment Partnership (TTIP) and its possible ramifications for Turkey; Deputy Prime Minister Mehmet Şimşek contended that the ultimate finalization of the aforementioned treaty might be delayed due to European Elections slated for the next year. On the other hand, by pointing out that they have already launched the procedures to further Customs Union and ultimately ink a ‘new generation trade agreement’, Şimşek declared that the negotiations between Turkey and EU in this regard will start by 2017.
‘2. TOBB-Gulf Cooperation Council Business and Investment Forum’ was jointly carried out by The Union of Chambers and Commodity Exchanges of Turkey and Federation of Chambers of the Gulf Cooperation Council in the Bahraini capital city of Manama.
Industrialists are reported to have postponed their investment projects due to the delay in the enactment of the necessary secondary legislation of East and Southeast Anatolia Investment and Support Initiative, an ambitious investment incentive package tailored specifically for 23 eastern cities economically lagging behind the national average and declared by Prime Minister Binali Yıldırım back in early September 2016.
After holding official meetings with Iranian Vice President Ishak Cihangiri, Communication and Information Technologies Minister Vaizi and the Minister of Mining and Trade Muhammed Rıza Nimetzade as a part of his visit to Islamic Republic of Iran, Minister of Economy Nihat Zeybekçi assessed the results of that visit to journalists in Denizli.