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30 March 2020

Turkey amends several laws due to COVID-19

The Law Amending Certain Laws No. 7226 has been published in Turkey’s Official Gazette dated 26 March 2020 No. 31080 (repeated). Law No. 7226 amends several laws including the labor law, income tax law and unemployment insurance law. The significant amendments are as follows:

  • The following paragraph has been added to Article 75 of the Income Tax Law No. 193.

Exchange rate difference is not taken into consideration in determining the amount of the income obtained from private pension funds established in foreign currency, in which the contribution payments made in foreign currency are deposited.

  • The enforcement date of the accommodation tax has been changed from 1 April 2020 to 1 January 2021.
  • In order to prevent the loss of judiciary rights due to COVID-19, some legal deadlines such as the term of litigation, initiating enforcement proceedings, appeals, notifications, settlements, etc. have been suspended until 30 April 2020.
  • Failure to pay the office lease amount to be processed from 1 March 2020 until 30 June 2020 does not constitute a reason for termination and evacuation of the lease.

For additional information with respect to this Alert, please contact the following:

Kuzey Yeminli Mali Müsavirlik A.S., Istanbul

ATTACHMENT

Document ID: 2020-5485

 
 

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