March 30, 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:
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.
For additional information with respect to this Alert, please contact the following:
Kuzey Yeminli Mali Müsavirlik A.S., Istanbul