Authorization Obligation is on the Horizon for OTT Services
The law, known as the 'disinformation law,' entered into force after being published in the Official Gazette on October 18, 2022. The new period for all OTT service providers, which provide interpersonal electronic communications services within the scope of audio, visual, written communications provided to the end users or subscribers having internet access, independently from the operators and internet services, through a publicly available software, has started on October… »
Sanction Against Shoe Ad Disrespecting Food
The Advertisement Board rendered a recent guiding decision implementing Article 7/2 of the Regulation on Commercial Advertisement and Unfair Commerce Practices (“Regulation”) titled “Accuracy and Honesty” and ruling that “Advertisements shall be in compliance with the principles of fair competition which have gained acceptance in both business life and in public opinion within the framework of the sense of economic and social responsibility” The decision pertains to the… »
Court Provides Guidance on How to Conclude Actions For Undue Receivables
Introduction The potential conclusion of actions initiated for undue receivables has been a controversial issue under Turkish law. There have been several different opinions on how the courts should conclude these cases. Certain courts have dismissed them on procedural grounds, while others have examined the merits. Recently, the Grand General Assembly on the Unification of Judgments of the Court of Cassation rendered a unification decision on how to conclude actions… »
Recent Changes in Relation to Determination of Companies Subject to Independent Auditing
The Presidential Decision No. 6434 on Determination of Companies subject to Independent Auditing (the “Decision”) was published in the Official Gazette on November 30, 2022. The Decision provides significant changes to the independent auditing thresholds compared to the Decision No. 2018/11597 on Determination of Companies subject to Independent Auditing, which will remain in force until January 1, 2023. With the effect of the Decision, publicly-traded companies that exceed… »
Extension of the Deadline Regarding Amendments to the Communiqué With Respect to Capital Loss and Negative Equity
The Communiqué (the “Amending Communiqué”) published in the Official Gazette on November 8, 2022, extended the deadline provided under Provisional Article 1 of the Communiqué on the Procedures and Principles Regarding Implementation of Article 376 of the Turkish Commercial Code No. 6101 (the “Implementation Communiqué”). The Implementation Communiqué was previously amended on December 26, 2020, and certain loss items were excluded from the calculation of capital loss or… »
New Provision Introduced to Decision on Drug Pricing
On 9 November 2022, the Presidential Decree numbered 6365 Amending the Decree on Pricing of Medicinal Products for Human Use (Turkish language) (Decision) was published in the Official Gazette numbered 32008. The following paragraph has been added under Article 2 of the Decision: "Discount practices that cause temporary price changes in the country/countries where the product is offered for sale, special practices related to product classification and taxation practices shall… »