The Istanbul Financial Center Regulation entered into force through its publication in the Official Gazette on 7 July 2023. The Regulation includes the details reserved for secondary regulations under the Istanbul Finance Center Law, especially the details regarding the conditions and processes for the participation certificate to be issued to entities that may operate in the Istanbul Financial Center.
Law No. 7435 on the Amendment of the Law on the Union of Chambers and Commodity Exchanges of Türkiye and the Chambers and Commodity Exchanges and Certain Laws and the Decree Law No. 640, published in the Official Gazette dated 1 February 2023 and numbered 32091, introduced significant amendments to Law No. 6585 on the Regulation of Retail Trade.
The amendments to the Law on the Regulation of Electronic Commerce that was adopted on 1 July 2022 will enter into force on 1 January 2023. As part of these amendments, the Regulation on Electronic Commerce Intermediary Service Providers and Electronic Commerce Service Providers was published on the Official Gazette no. 32058 dated 29 December 2022.
The Regulation aims to detail and clarify the requirements under the Law.
The Ministry of Trade amended the Customs Regulation on 25 May 2022. Amendments include a simplified authorized sender declaration as well as changes to regulations covering: declaration periods for imports with unknown values; delivery of goods; incomplete export declarations and supplementary export declarations; general warehouse storage and permits, the cost of customs laboratory testing; and, companies established by authorized customs consultants.
On 15 March 2022, the Presidential Decree Amending the Decree on the Implementation of Certain Articles of the Customs Law No. 4458 was published in the Official Gazette. The Decree introduced notable amendments to the customs duty rates of certain product groups imported via mail, cargo or along with passengers. The amendments will enter into force on 1 May 2022.
The amendments in the Turkish merger control regime (i) increase the turnover thresholds for notifiability, (ii) bring an exception to the turnover thresholds applicable to the acquisition of technology companies, (iii) change the turnover calculation methodology for certain types of undertakings, and (iv) update the template notification form. The amendments are set to enter into force on 4 May 2022.
On 26 February 2022, the Turkish Ministry of Trade introduced various changes regarding the control and inspection of certain imported goods, which are effective immediately.
Turkey’s latest measure to tax the digital economy was the introduction of the DST, effective as of March 2020. Turkey’s 7.5% DST covers digital service providers exceeding a global revenue threshold of EUR 750 million and local revenue of TRY 20 million. The tax is mainly applicable to revenue generated from online advertising services, digital content sales/services and digital platform services.
This post in the Baker McKenzie Import and Trade Remedies Blog outlines recent customs developments in Turkey. The developments include: the amendment to the Customs Regulations on 30 December 2021, the ratification of the Decision of the EU-Common Transit Countries (CTC) Joint Committee amending the Convention on the Common Transit Procedure, the amendment of the Turkish Import Regime Decision and the Decision Regarding the Application of Additional Customs Duty on Imports, amendment to the Decision Regarding the Application of Additional Customs Duty on Imports, and new communiqués published for 2022.