Global

Details

  • Service: Tax, International Corporate Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 8/2/2012

Turkey - Changes to commercial law 

August 2: Amendments to Turkey’s commercial law, effective at the beginning of July 2012, include changes concerning:

  • Information reporting with respect to documents issued by merchants
  • Registry of commerical books
  • Repeal of a requirement to announce financial statements
  • Requirements for members eligible for Board of Directors
  • Shareholder borrowing allowed from companies under certain conditions
  • Authority of Council of Ministers to determine companies to be subject to audit
  • Auditor-related guidance
  • Requirement to establish a website

Read a July 2012 report prepared by the KPMG member firm in Turkey: The New Turkish Commercial Code entered into force on 01.07.2012, however significant changes were made by the Law No.6335




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