Minimum Salary Has Been Increased with the Commission Decision published on 01.07.2022.

The decision of the Minimum Salary Determination Commission increasing the minimum wage was published in the second Official Gazette dated 01.07.2022. Pursuant to the decision, the monthly net minimum salary has been determined as TRY 5,500.35 until 31.12.2022, effective as of 01.07.2022.

Severance Pay Cap Has Been Raised by the Decision of the Ministry of Treasury and Finance.

In accordance with the Circular No. 9 dated 04.07.2022 published by the Ministry of Treasury and Finance, the cap severance pay for the period of July-December 2022 was determined as 15,371,40 TL. Under the relevant Circular, additional issues to be taken into consideration in calculation of salaries are also regulated.

New Asset Peace Entered into Force with the Law No. 7414.

Law No. 7417 on Certain Amendments to Civil Servants Law and Certain Laws and Statutory Decree No. 375 was published in the Official Gazette dated 05.07.2022 and has stipulated a new asset peace under Article 50 thereof. New regulation includes several crucial differences compared to the previous asset peace provisions such as non-taxpayers’ right to benefit from the asset peace for local assets, two-year withdrawal ban of the amount to be recorded in the fund account, determination of gradual tax rates for assets located abroad depending on the certain aspects and abolition of the title deed fee in declaration of immovable properties.

Tax Regulations Has Been Amended by the Law No. 7417 Published in the Official Gazette dated 05.07.2022.

Pursuant to the Law No. 7417 on Certain Amendments to Civil Servants Law and Certain Laws and Statutory Decree No. 375 published in the Official Gazette dated 05.07.2022, significant amendments have been made in the tax legislation. Under the amendments, implementation period of notional interest deduction has been limited, special irregularity penalties have been increased, Ministry of Treasury and Finance has been authorized to obtain the ultimate beneficial ownership information and lastly, effective date of the amendment to corporate income tax rate applicable to certain financial institutions has been clarified.

The Law on the Amendment of the Law on the Regulation of Electronic Commerce Has Been Published in the Official Gazette dated 07.07.2022.

The Law on the Amendment of the Law on the Regulation of Electronic Commerce has been published in the Official Gazette dated 07.07.2022 and numbered 31889. The amendment law introduces significant new obligations to intermediary service providers and service providers. Most of the provisions of the amendment law will enter into force as of 01.01.2021, while the rest of the provisions will be effective as of 01.01.2024.

The Decision on Cancellation of the General Rule Restraining the Tax Courts to Resolve on Suspension of Execution Without Security Has Been Published in the Official Gazette on 07.07.2022.

Article 27/4 of Turkish Administration Procedural Law on securities required for suspension of execution in tax proceedings, stating that suspension of execution cannot be resolved without security in tax cases, was annulled by the decision of the Constitutional Court dated 01.06.2022 and numbered E.2022/14 K.2022/70. It was held by the Constitutional Court that considering the facts that administrative courts resolving on suspension of execution actually does not possess the discretionary power to require for or determine the amount of security based on the relevant circumstances and there is no scheme for the plaintiff, who is unable to cover the security costs, to benefit from legal aid it is understood that the rule that stipulates requiring a security of fifty percent of the subject matter of the case reduces the effectiveness of the institution of suspension of execution and prevents the realization of the purpose expected from such institution.

Amendments in Tax Legislation Were Published in the Official Gazette dated 21.07.2022.

The Presidential Decree No. 5801, published in Official Gazette dated 21.07.2022 has increased the monthly delay interest rate set out in the Article 51/1 of Law No. 6183 on the Collection Procedure of Public Receivables from 1.6% to 2.5% per month. Furthermore, in accordance with the General Communiqué on Collection of Revenues No:6 published in the same Official Gazette, the annual default interest rate, which was 15%, has been increased to 24%. The amendment will be implemented as of 21.07.2022.