Turkey: Recent Keynotes Of December 2017

International Agreements

  • The Resolution of the Council of Ministers dated 30.10.2017 and numbered 2017/10969, on the Ratification of the Reciprocal Administrative Assistance Agreement Regarding Tax Matters with the Annexed Reservation and Declarations, was published in the Official Gazette dated 26.11.2017 and numbered 30252.
  • The Resolution of the Council of Ministers dated 30.10.2017 and numbered 2017/10959, on the Ratification of the Security Cooperation Agreement between the Government of the Republic of Turkey and the Government of the Republic of Guinea-Bissau, was published in the Official Gazette dated 29.11.2017 and numbered 30255.
  • The Resolution of the Council of Ministers dated 30.10.2017 and numbered 2017/10968, on the Ratification of "the Amendment to the Financing Agreement Comprising Special Conditions for the Annual Action Program for Turkey for the year 2014," signed between the Government of Republic of Turkey and the European Commission, was published in the Official Gazette dated 29.11.2017 and numbered 30255.
  • The Resolution of the Council of Ministers dated 30.10.2017 and numbered 2017/10960, on the Ratification of the Turkey-Georgia Land Transportation Joint Commission Meeting Protocol, was published in the Official Gazette dated 30.11.2017 and numbered 30256.
  • The Resolution of the Council of Ministers dated 30.10.2017 and numbered 2017/10966, on the Ratification of the Administrative Agreement regarding the Application of the Social Security Agreement between the Government of the Republic of Turkey and the Government of the Kingdom of Belgium, was published in the Official Gazette dated 30.11.2017 and numbered 30256(bis.).
  • The Resolution of the Council of Ministers dated 16.10.2017 and numbered 2017/10976, on the Ratification of the Security Cooperation Agreement between the Government of the Republic of Turkey and the Government of the Republic of Uganda, was published in the Official Gazette dated 30.11.2017 and numbered 30256 (bis.).
  • The Resolution of the Council of Ministers dated 11.09.2017 and numbered 2017/10836, on the Ratification of the Optional Protocol with Declaration, regarding the Application Procedure of the Agreement on Child Rights, was published in the Official Gazette dated 07.12.2017 and numbered 30263.
  • The Resolution of the Council of Ministers dated 22.09.2017 and numbered 2017/10848, on the Ratification of the Memorandum of Understanding regarding the Defense Industry Cooperation between the Government of the Republic of Turkey and the Government of the Kingdom of Bahrain, was published in the Official Gazette dated 09.12.2017 and numbered 30265.
  • The Resolution of the Council of Ministers dated 02.10.2017 and numbered 107/10900, regarding the Entry into Force of the Grant Agreement between the Government of the Republic of Turkey and the Government of the State of Palestine, was published in the Official Gazette dated 14.12.2017 and numbered 30270.
  • The Resolution of Council of Ministers dated 02.10.2017 and numbered 2017/10917 regarding the approval of the Financing Agreement concluded between the Government of the Republic of Turkey and the European Union represented by European Commission; and that Amends the Financing Agreement on the Multi Annual "Transmission" Operational Program regarding Instrument for Pre-accession Assistance under the "Regional Development" Component in relation to Turkey between the European Commission and the Government of the Republic Turkey was published in the Official Gazette dated 14.12.2017 and 30270 (bis.).
  • The Resolution of the Council of Ministers dated 02.10.2017 and numbered 2017/10913, on the Ratification of the Turkish-Slovenian Joint Economic Commission 7th Term Meeting Protocol, was published in the Official Gazette dated 16.12.2017 and numbered 30272 (bis.).
  • The Resolution of the Council of Ministers dated 02.10.2017 and numbered 2017/10914, on the Ratification of the Administrative Agreement regarding the Application of the Social Security Agreement between the Government of the Republic of Turkey and the Government of Hungary, was published in the Official Gazette dated 16.12.2017 and numbered 30272.

Council of Ministers Resolutions

  • The Resolution of the Council of Ministers dated 11.09.2017 and numbered 2017/10810, on the Ratification of the Attached Country Limit Lists for 2017 that is determined with respect to Export Loans with Non-cash Official Support and the two years or longer-term Insurance Transactions by the High Consultation and Loan Steering Board of the Turkish Exportation Loan Bank Incorporated Company to Foreign Companies, was published in the Official Gazette dated 22.11.2017 and numbered 30248.
  • The Resolution of the Council of Ministers dated 30.10.2017 and numbered 2017/10944, on the Amendment to the Resolution on Providing Support to (A) Group Travel Agencies that bring Tourists to our Country, was published in the Official Gazette dated 14.12.2017 and numbered 30270.

Legislation

  • The Regulation on the Amendment to the Regulation with respect to Processing Personal Health Data and Ensuring its Privacy, entered into force through publication in the Official Gazette dated 24.11.2017 and numbered 30250.
  • The National Estate General Communiqué (Serial No: 379) entered into force through publication in the Official Gazette dated 24.11.2017 and numbered 30250.
  • The Regulation on the Amendment to the Regulation regarding Rules and Procedures in relation to Payments that are made from the Support and Price Stabilization Fund within the Scope of State Aids for Exportation, was published in the Official Gazette dated 26.11.2017 and numbered 30252. This Regulation enters into force three months after its date of publication.
  • The Regulation on Ancillary Services in the Electricity Market was published in the Official Gazette dated 26.11.2017 and numbered 30252. This Regulation entered into force on 01.01.2018.
  • The Regulation on the Amendment to the Electric Network Regulation was published in the Official Gazette dated 26.11.2017 and numbered 30252. This Regulation entered into force on 01.01.2018.
  • The Regulation on the Foreign Economic Relations Board and Rules and Procedures of Work Councils entered into force through publication in the Official Gazette dated 26.11.2017 and numbered 30252.
  • The Communiqué (II-13.1.b) on the Amendment to the Communiqué (II-13.1) regarding the Rules and Procedures of Keeping Records in relation to the Dematerialized Capital Markets Instruments entered into force through publication in the Official Gazette dated 29.11.2017 and numbered 30255.
  • The Communiqué on Turkish Auditing Standards No: 54 (The Ethical Rules for Independent Auditors) entered into force through publication in the Official Gazette dated 30.11.2017 and numbered 30256.
  • The Communiqué (Serial Number: 13) on the Amendment to the General Communiqué on Corporation Tax (Serial Number: 1) was published in the Official Gazette dated 01.12.2017 and numbered 30257.
  • The Communiqué (II-5.2.a) on the Amendment to the Communiqué on the Sales of Capital Market Instruments (II-5.2) entered into force through publication in the Official Gazette dated 01.12.2017 and numbered 30257.
  • The Regulation on Cable Traction Installment (2016/424/AB) was published in the Official Gazette dated 02.12.2017 and numbered 30258. Various provisions of this regulation enter into force on different dates.
  • The Regulation on the Auditing of the Electricity Distribution Companies entered into force through publication in the Official Gazette dated 02.12.2017 and numbered 30258.
  • Communiqué numbered 2018/1 on the Augmentation of the lower limit of the Administrative Penalty stipulated under the first paragraph of Article 16 of the Law on the Protection of Competition numbered 4054 until 31.12.2018 was published in the Official Gazette dated 02.12.2017 and numbered 30258. This Communiqué entered into force on 01.01.2018.
  • Law numbered 7061 on the Amendments to Certain Tax Laws and to Other Certain Laws was published in the Official Gazette dated 05.12.2017 and numbered 30261. Various provisions of this law enter into force on different dates.
  • The Regulation on the Amendment to the Regulation on Social Security Transactions was published in the Official Gazette dated 05.12.2017 and numbered 30261. Various provisions of this Regulation enter into force on different dates.
  • The Communiqué on the Amendment to the Value Added Tax General Application Communiqué (Serial Number: 15) entered into force through publication in the Official Gazette dated 05.12.2017 and numbered 30261.
  • The General Communiqué on the Income Tax (Serial Number:299) was published in the Official Gazette dated 06.12.2017 and numbered 30262. This Communiqué enters into force through publication being valid as of 01.09.2017.
  • The Communiqué (Serial Number: 17) on the Amendment to the General Communiqué (Serial Number: 5) on the Financial Crimes Investigation Board entered into force through publication in the Official Gazette dated 07.12.2017 and numbered 30263.
  • The Communiqué (Serial Number: 3) on the Amendment to the General Communiqué (Serial Number: 1) Regarding Disguised Income Distribution through Transfer Pricing entered into force through publication in the Official Gazette dated 07.12.2017 and numbered 30263.
  • The Regulation on the Amendment to the Regulation Regarding Loan Transactions of Banks entered into force through publication in the Official Gazette dated 12.12.2017 and numbered 30268.
  • The Regulation on the Amendment to the Regulation Regarding the Establishment and Activity Principles of Financial Leasing, Factoring and Financing Companies entered into force through publication in the Official Gazette dated 12.12.2017 and numbered 30268.
  • The General Customs Communiqué (Customs Transactions) (Serial Number: 146) was published in the Official Gazette dated 14.12.2017 and numbered 30270. This Communiqué entered into force on 01.01.2018.
  • The General Communiqué on Income Tax (Serial Number: 300) was published in the Official Gazette dated 14.12.2017 and numbered 30270. This Communiqué entered into force through publication to be applied to real property incomes that are obtained as of 01.01.2017.
  • The Regulation on the Amendment to the Electricity Market License Regulation entered into force through publication in the Official Gazette dated 15.12.2017 and numbered 30271.
  • The Communiqué on the Amendment to the Communiqué regarding the Regulation of the Energy Retail Prices entered into force through publication in the Official Gazette dated 15.12.2017 and numbered 30271.
  • The Communiqué (Serial Number: 74) on the Amendment to the Communiqué Regarding the Commentaries of Turkish Accounting Standards (Serial Number: 43) entered into force through publication in the Official Gazette dated 16.12.2017 and numbered 30272.
  • The General Communiqué on Tax Procedure Law (Serial Number: 485) was published in the Official Gazette dated 17.12.2017 and numbered 30273. This Communiqué entered into force on 01.01.2018.
  • The General Communiqués on Tax Procedure Law (Serial Number: 486 and 487) entered into force through publication in the Official Gazette dated 17.12.2017 and numbered 30273.
  • The Communiqué on the Determination of the Rules and Procedures of the Application of the General Investment and Financing Program for 2018, was published in the Official Gazette dated 19.12.2017 and numbered 30275. Articles 4, 11, 24 and 25 entered into force on the date of publication, and the other provisions entered into force on 01.01.2018.

Competition Board Decisions

  • The Competition Board ("Board") decided that the "framework agreement" concluded between Allianz Sigorta A.Ş. and FİBA Emeklilik ve Hayat A.Ş. is within the scope of Article 4 of Law numbered 4054, but also granted this Agreement individual exemption as it fulfills all conditions stated in Article 5 of Law numbered 4054. (28.11.2017, 17-39/629-275)
  • The Board granted the Member Workplace Utilization Program Agreement concluded between QNB Finansbank A.Ş. and HSBC Bank A.Ş. individual exemption as it fulfills all conditions stated in Article 5 of Law numbered 4054. (14.12.2017, 17-41/651-289)

Mergers and Acquisitions

  • The Board decided that the acquisition of the shares that represent a certain number of the capital of Ekofer Tekstil ve Parfümeri Sanayi Pazarlama A.Ş. by Taxim Capital Partners I LP through Intilux S.a.r.l is not subject to authorization. ( 23.11.2017, 17-38/618-BD)
  • The Board authorized the acquisition of a certain number of the shares of Paket Taşımacılık Sistemleri ve Turizm Bilgisayar Ticaret A.Ş. by General Consumer Goods B.V. (23.11.2017, 17-38/614-26)
  • The Board authorized the re-establishment of certain minority rights on the Anadolu Efes Biracılık ve Malt Sanayii A.Ş. (AE) to Anheuser-Busch InBev SA/NV, within the scope of the Amended and Revised Relationship Agreement regarding AE. (23.11.2017, 17-38/611-267)
  • The Board authorized the establishment of a joint venture between Oyak Denizcilik ve Liman İşletmeleri A.Ş and Nippon Yusen Kabushiki Kaisha (28.11.2017, 17-39/628-274)
  • The Board authorized the acquisition of the sole control of Kastaş Kağıt Sanayi ve Ticaret A.Ş. by Hamburger Recycling Group GmbH. 28.11.2017, 17-39/626-273)
  • The Board authorized the acquisition of a business unit of Peak Oyun Yazılım ve Pazarlama A.Ş. by Zynga Inc. and its affiliates. (28.11.2017, 17-39/625-272)
  • The Board authorized the establishment of a joint venture by Celanese Corporation and The Blackstone Group L.P. to jointly own and manage each other's businesses on acetate tow and acetate flake. (28.11.2017, 17-39/623-270)
  • The Board decided that the acquisition of MJET Ayvalık Cunda Store 4365, and MJET Cunda Sahil Migros Store 4634, which are among the stores to be sold off within the scope of the conditional authorization to the acquisition of the 95.495% of Tesco Kipa Kitle Pazarlama Ticaret Lojistik ve Gıda San. A.Ş. shares controlled by Tesco Overseas Investments Limited by Migros Ticaret A.Ş in its decision dated 09.02.2017 and numbered 17-06/56-22, through the transfer of the lease agreement and through sublease, respectively, by Neval İnce-Mita Market is not subject to authorization. (28.11.2017, 17-39/637-277)
  • The Board authorized the acquisition of the shares of Vilsan Veteriner Ticaret ve Sanayi A.Ş. by Merck & Co., Inc. through Intervet Holding B.V. (29.11.2017, 17-40/639-278)
  • The Board decided that the acquisition of Keşan Store 876 and Erikli Keşan Store 2828, which are among the stores to be sold off within the scope of the conditional authorization to the acquisition of the 95.495% of the Tesco Kipa Kitle Pazarlama Ticaret Lojistik ve Gıda San. A.Ş. shares controlled by Tesco Overseas Investments Limited by Migros Ticaret A.Ş in its decision dated 09.02.2017 and numbered 17-06/56-22, through the transfer of the lease agreement by Altunlar Gıda İhtiyaç ve Tüketim Maddeleri San. ve Tic. A.Ş. is not subject to authorization. (14.12.2017, 17-41/649-287)
  • The Board authorized the acquisition of a certain number of shares and the sole control of İlknak Su Ürünleri San. ve Tic. A.Ş. by Gümüşdoğa Su Ürünleri Üretim İhracat ve İthalat A.Ş. (14.12.2017, 17-41/648-286)
  • The Board authorized the acquisition of the control of the Turkent Gıda ve Turizm Sanayi ve Ticaret A.Ş. by Abraaj Private Equity Fund VI L.P. (14.12.2017, 17-41/647-285)
  • The Board authorized the establishment of the joint control on Sedes İç ve Dış Tic. A.Ş. which is controlled by Demir Sabancı, by way of acquisition of a certain number of shares of the latter by the companies that are incorporated for the purpose of this transaction by Actera Group. (14.12.2017, 17-41/646-284)
  • The Board authorized the establishment of a joint venture company named PIMGSA LLP by WME Entertainment Parent LLC and Perform Group Limited. (14.12.2017, 17-41/644-283)
  • The Board authorized the acquisition of a certain number of Shares of Veser Kimyevi Maddeler A.Ş. by Global Chemplast L.P. ( 14.12.2017, 17-41/643-282)

Energy

  • The Energy Market Regulatory Authority ("EMRA") Petroleum Market Sector Report of September 2017, the Liquefied Petroleum Gas (LPG) Market Sector Report of September 2017, the Electricity Market Sector Report of September 2017, and the Natural Gas Market Sector Report of 2017 on 07.12.2017 on its web site.
  • The EMRA published the Draft Amendment on the Regulation regarding the Organized Industrial Zones' Electricity Market Activities on 05.12.2017 on its website.
  • The EMRA published the Draft Rules of Procedures regarding Immovable Procurement Transactions on 11.12.2017.
  • The Regulation on the Amendment to the Petroleum Market License Regulation as published in the Official Gazette dated 20.12.2017 and dated 30276. Article 8 of this Regulation enters into force through publication, and the other provisions entered into force on 01.01.2018.
  • The Regulation on the Amendment to the Liquefied Petroleum Gas Market License Regulation was published in the Official Gazette dated 20.12.2017 and dated 30276. Article 3 of this Regulation entered into force through publication, and the other provisions entered into force on 01.01.2018.
  • The Communiqué on Monetary Fines that will be applied in 2018 pursuant to Article 9 of Natural Gas Market Law numbered 4646 / The Law on the Amendment to the Electricity Market Law and Natural Gas Market Law, was published in the Official Gazette dated 21.12.2017 and numbered 30277. This Communiqué entered into force on 01.01.2018.
  • The Communiqué on Monetary Fines that will be applied in 2018 pursuant to Article 19 of Petroleum Market Law numbered 5015 was published in the Official Gazette dated 21.12.2017 and numbered 30277. This Communiqué entered into force on 01.01.2018.
  • The Communiqué on Monetary Fines that will be applied in 2018 pursuant to Article 16 of the Law on Amendment to the Electricity Market Law and Liquefied Petroleum Gas Market Law numbered 5307, was published in the Official Gazette dated 21.12.2017 and numbered 30277. This Communiqué entered into force on 01.01.2018.
  • The Communiqué on Monetary Fines that will be applied in 2018 pursuant to Article 16 of the Electricity Market Law numbered 6446 was published in the Official Gazette dated 21.12.2017 and numbered 30277. This Communiqué entered into force on 01.01.2018.

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