With Law No. 7521 on Amending Certain Laws and Decree Laws (“Law No. 7521”), published in the Official Gazette No. 32613 dated July 26, 2024, it has been decided to make amendments to certain laws and decree laws. Law No. 7521 consists of 29 articles, excluding the provisions on enforcement and execution. This information note aims to provide information about the main regulations and amendments made by Law No. 7521.
• With the addition of a new clause to the Law No. 132 on Certain Regulations Related to the Turkish Standards Institution dated November 18, 1960, treasury grants from the general budget have been considered as part of the revenues of the Turkish Standards Institution.
• An additional article has been added to the Vehicle Law No. 237 dated January 5, 1961 to address the responsibilities of the Privatization Administration. The Privatization Administration is authorized to determine the principles and procedures for the sale of vehicles and machinery defined in Article 3 of the Highway Traffic Law No. 2918, and vehicles and machinery transferred to the Ministry of Environment,
Urbanization, and Climate Change. This includes public institutions and organizations covered by Law No. 5018 on Public Financial Management and Control, related and affiliated public institutions and organizations, public economic enterprises subject to Decree Law on Public Economic Enterprises, entities where these enterprises hold more than half of the capital, entities subject to private law provisions under privatization, funds, revolving funds, and all other public institutions and organizations. The Administration is authorized to conduct tenders through open bidding and/or e-tender methods. Additionally, the relevant article specifies transactions covered by the privatization fund. It has been stated that expenses related to the conduct of the tender process and any consultancy services required for the aforementioned procedures will be covered by the privatization fund.
• The expression “…papers” in the Stamp Duty Law No. 488 dated July 1, 2024 has been amended as “papers and investment contracts signed between the Minister of Industry and Technology and the investors defined in the Foreign Direct Investment Law No. 4875 dated June 5, 2003 within the scope of the decisions on State aid in investments.” Therefore, the scope of papers related to commercial and civil affairs has been expanded. In this context, investment contracts signed between the Minister of Industry and Technology and investors before the issue of incentive certificates are exempt from stamp tax.
• By adding a provisional article to the Natural Gas Market Law No. 4646; Petroleum Pipeline Corporation’ (“BOTAŞ”) debts of taxes, funds, shares, administrative fines and related late fees and interest that are due but unpaid to the collection departments of the Ministry of Commerce as of the effective date of this article will be canceled by the Ministry of Commerce by setting off against BOTAŞ’s receivables from the Treasury for the assignment fee; the
debts subject to this set-off shall not be subject to the calculation of accessory receivables after the date of publication of this article; and the Minister of Treasury and Finance shall be authorized to determine the receivables of BOTAŞ from the Treasury for the assignment fee and to determine the cancellation procedures for the set-off. The purpose of this regulation is to ensure the cancellation of some of BOTAŞ’s unpaid taxes by offsetting them against the assignment receivables.
• With the amendment made to the Public Procurement Law No. 4734 dated January 4, 2002 (“Law No. 4734“), all kinds of natural gas purchases to be made by BOTAŞ are exempted. Therefore, natural gas purchases to be made by BOTAŞ are not subjected to Law No. 4734. It is stated that the procedures and principles regarding the processes and operations to be carried out for the relevant procurements and the principles such as confidentiality, efficiency, reliability, etc. regarding the relevant procurements will be determined by the President.
• With the lines added to the Special Consumption Tax Law dated June 6, 2002 and numbered 4760: from vehicles that can be charged from outside the vehicle with an electric motor, having a carbon dioxide emission of less than 25 g per weighted combined kilometer and a range of 70 km or more that can be covered with equivalent electrical energy. Special consumption tax rates have been re
determined for:
i. Those with a motor displacement not exceeding 1600 cm³,
ii. Those whose special consumption tax base does not exceed TL 1,350,000 iii. Others
iv. Those with a motor displacement exceeding 1600 cm³ but not exceeding 1800 cm³, and with a tax base not exceeding 1,350,000 TL
In this context, the tax rate to be applied is determined as 30% for those whose special consumption tax base not exceeding 1,350,000 TL, 60% for others, and 70% for those whose motor displacement exceeds 1600 cm³ but does not exceed 1800 cm³ and whose tax base does not exceed 1,350,000 TL.
• With the addition made to Article 2 of the Law on Prevention of Laundering Proceeds of Crime dated October 11, 2006 and numbered 5549 (“Law No. 5549“), lawyers; except for the information obtained during the professional activities carried out within the scope of the works specified in paragraphs 1 and 3 of Article 35 of Law No. 1136 on the Advocacy Law and alternative dispute resolution methods, have been made obliged to provide information to the Financial Crimes Information Board (“MASAK”) about certain issues limited to:
– the purchase or acquisition of immovable property
– establishment and removal of limited rights in rem,
– realization of financial transactions related to the establishment and merger of companies, foundations and associations and their management, transfer and liquidation,
– banks, securities and all kinds of accounts and the administration of the assets in these accounts.
As a liable person, a lawyer is obliged to notify MASAK if there is any information, suspicion or suspicion that the assets subject to the transactions made or attempted to be made in or through him/her have been obtained illegally or used for illegal purposes.
In case of violation of this obligation, an administrative fine of 50.000 TL will be imposed in accordance with Article 13 of Law No. 5549. In addition, pursuant to paragraph 2 of Article 4 of the Law No. 5549, the lawyer who has become a liable person shall not disclose the fact that a suspicious transaction notification has been made to the Presidency to no one including the parties to the transaction, except the members of the audit staff assigned for liability audit and the courts during the proceedings. In case of disclosure, they will be penalized with imprisonment from 1 year to 3 years and a judicial fine up to five thousand days pursuant to Article 14 of Law No. 5549.
From now on, the liable parties shall apply to the administrative judiciary against the administrative fines imposed, instead of the criminal courts of peace.
