25 May 2016
La période d’essai
La période d’essai permet à l’employeur d’évaluer les compétences du salarié dans son travail, notamment au regard de son expérience, et au salarié d’apprécier si les fonctions occupées lui conviennent.
Articles
23 May 2016
Product Security Solutions Currently Implemented by Public Institutions in Turkey
Despite accelerating pace of growth in the share of privately-owned firms due to mounting sense of urgency to ensure that commercial rights granted to them by respective jurisdictions are not merely nominal protection mechanisms by employing product security solutions; governments across the globe and their affiliated public or semi-public institutions continue to dominate the demand side of the product security (product authentication/track/trace systems) market.
23 May 2016
Product Security Solutions Currently Implemented by Public Institutions in Turkey
Despite accelerating pace of growth in the share of privately-owned firms due to mounting sense of urgency to ensure that commercial rights granted to them by respective jurisdictions are not merely nominal protection mechanisms by employing product security solutions; governments across the globe and their affiliated public or semi-public institutions continue to dominate the demand side of the product security (product authentication/track/trace systems) market.
16 May 2016
Real Estate Tax Liability for Foreigners in Turkey
Pursuant to Real Estate Tax Law (No. 1319), paying real estate tax on land and buildings (real property) located within the boundaries of Turkey is obligatory. The real estate tax is a municipal tax levied on the value of real property, and the applicable tax rate varies depending on how the real property is classified. The property tax burden fall on the owners of the real property, and they are required to pay it.
16 May 2016
Allocation And Usage Of The Statutory & Discretionary Reserves Under The Terms Of The Turkish Commercial Code
Reserves are among the items that compose the joint-stock company's equity. Reserves are regulated in the Turkish Commercial Code (herein after referred as “TCC”). According to the Turkish Commercial Code, joint-stock companies are obliged to allocate statutory reserves in some cases.
12 May 2016
EU Project on Informal Economy Commences
The inauguration conference of ‘Technical Assistance Project for Fight Against Informal Economy and Improvement of Administrative Capacity of the Turkish Revenue Administration’ which is jointly financed by Turkish Republic and European Union was held in Ankara in May 3, 2016.
12 May 2016
Constitutional Court ruling creates a tax loophole
Traditionally, income taxation in Turkey is based on a dual system; namely the taxation of individuals’ personal income and taxation of corporations’ corporate income, regulated in two distinct laws.
12 May 2016
What is so puzzling about the Motivations behind Dividend Policy? (1)
Pursuant to Modigliani and Miller’s dividend irrelevance theory, companies’ dividend policies do not have any effect on shareholders’ wealth. Academics have asked why companies pay a significant proportion of their earnings as dividends if it does not affect shareholders’ wealth. In finance literature, this question is known as the “dividend puzzle”.
09 May 2016
A Glance At The New Turkish Commercial Code
The new Turkish Commercial Code No. 6102 (hereinafter referred as “TCC” or “the new TCC”) consisting of 1535 articles was adopted by the Turkish Parliament on January 13th, 2011. But, for obtaining the acquiescence of business actors to the new law and allowing relevant institutions to prepare the secondary legislation, the Turkish Parliament decided to put the new code into force after one and a half years. Thus, the new TCC was put into force on July 1st, 2012.
29 April 2016
Managing a Limited Liability Company in Turkey
Manager or the Board of managers (BOM) is one of the legal bodies of the limited liability company (LLC) that has the authority to direct and represent the company. The basic legal arrangements related to the manager and board of managers are explained below.
29 April 2016
Deadlines regarding certain liabilities extended
Upon receiving requests filed by taxpayers from various economic sectors, the Revenue Administration has declared with circular number VUK-82 / 2016-3 that the deadlines for submitting corporate income tax returns, the completion of the electronic books and uploading the certificates of those electronic book to the automation system are extended.
25 April 2016
Tax Amnesty: Indonesian Plan, Turkish Experience
An article has been published in latest version of The Economist (April 9th 2016) under the heading Tax amnesties -Making Crime Pay. Article is about the tax amnesty offer planned by Indonesian Government. Indonesian Government estimates that rich Indonesian have perhaps $900 billion outside the country.
25 April 2016
Electronic Notification in Taxation
Based on relevant regulations made in Turkish Tax Procedural Law numbered 213, any tax-related notifications should normally be done either via post, official declaration or by a civil servant.
25 April 2016
Managing a Joint Stock Company in Turkey
Board of directors (BOD) is one of the legal bodies of the joint-stock company (JSC) that has the authority to direct and represent the company. The basic legal arrangements related to the board of directors are explained below.
25 April 2016
The evolution of KOSGEB and its investment benefits
Traditionally, small and medium sized enterprises have come to be known as the backbone of the national economies and their vital significance for a sustainable and viable economic development never faded away.
10 April 2016
Foreign corporations in Turkey must file taxes by April 25
The pace of growth and development in the Turkish economy and its foreign trade implications over the last decade, coupled with the deepening interconnectedness of markets across the globe and the interdependence of national economies - both those in geographical proximity to each other and those in distant continents - has brought topics related to direct and indirect foreign investment to the top of the agenda.
21 March 2016
Administration-prepared (pre-filled) tax return system going into effect
Based on the “prepared (pre-filled) rental income tax return” put in place back in 2012, the wider and more comprehensive ‘administration-prepared tax return’ went into effect as of March 1, 2016.
21 March 2016
What are the nine investment benefits currently granted?
As briefly mentioned in previous articles explaining the principal aspects and basic working mechanism of the generous investment incentive system that was put into force with the promulgation of the Governmental Resolution on State Aids to Investments, there are nine types of investment benefits granted to eligible investors with differing combinations.