Important Regulations Which Are Effective As Of 2024 And/ Or Has Been Made Subject To Time Extension 11 January 2024
Laws No. 5746 and No. 6550 extended the regulation on higher depreciation (showing expenses related to depreciation) and calculation rates and periods for new machines acquired for use in R&D, innovation and design activities.

- The period of calculation with higher depreciation by taking into account half of the useful life periods determined and announced by the Ministry of Finance has been extended until 31/12/2024 with Article 16 of the Law No. 7491 on Amendments to Certain Laws and Decree Laws.
- With the provisional Article 32 added to the Banking Law No. 5411, companies that are in financial difficulty but are able to continue their activities through restructuring their debts were given the opportunity to restructure their debts by agreeing with creditor institutions within the scope of framework agreements to be determined and announced by the Banks Association of Turkey. This period was extended for another 2 years as of 28.12.2023, the publication date of Law No. 7491, with Article 52 of the Law No. 7491 on Amendments to Certain Laws and Decree Laws.
- Provisional Article 3 of the Cheque Law dated 14/12/2009 and numbered 5941 was as follows: "Until 31/12/2023, the submission of the cheque to the addressee bank for payment before the date of issue written on it is invalid." This period was extended until 31.12.2025 with Article 65 of the Law No. 7491 on the Amendment of Certain Laws and Decree Laws. Thus, presenting the cheque to the addressee bank for payment before the issue date written on the cheque will be invalid until 31/12/2025.
- With the Presidential Decree No. 7887 published in the Official Gazette dated 25.11.2023, effective from 01.01.2024, the minimum capital amounts regulated in the Turkish Commercial Code for joint stock and limited liability companies have been increased. For joint stock companies, it was increased from 50 thousand liras to 250 thousand liras; for limited liability companies, it was increased from 10 thousand liras to 50 thousand liras. In addition, the minimum initial capital for non-public joint stock companies that accept the registered capital system has been set at 500 thousand liras.
- With the Regulation Amending the Regulation on the Principles and Rules to be Applied in Retail Trade published in the Official Gazette dated 14.12.2023, it was established that (i) the duration of payments for agricultural and food products that can spoil within thirty days from the date of production 2024 cannot exceed thirty days if the creditor is micro or small, the debtor is medium or large scale or the creditor is medium, the debtor is large scale, and forty-five days in other cases, (ii) the duration of payments for agricultural and food products other than those can be spoiled within thirty days from the date of production cannot exceed sixty days if the creditor is micro or small, the debtor is medium or large scale or the creditor is medium, the debtor is large scale. In addition, it is stated that if the payment is made by cheque, the date of valid presentation and if the payment is made by deferred instruments, the due dates must be within the periods specified in this article.
- With the Regulation Amending the Regulation on Principles and Rules to be Applied in Retail Trade published in the Official Gazette dated 14.12.2023, the Ministry of Commerce has been authorised, as of 01.01.2024, to impose an obligation on the sale of food products for diseases requiring medical nutrition treatment to be applied in branches with a sales area of more than 250 square metres, for chain stores which are selling fast-moving consumer goods with more than 200 branches.
- Pursuant to the Regulation Amending the Price Label Regulation by the Ministry of Commerce published in the Official Gazette dated 19.12.2023, as of 01.01.2024, documents, plates, boards and the like related to tariffs and price lists must be placed in the workplace where the service is provided according to the nature of the services and the way they are offered to the consumers, and also in front of the entrance door of the workplace and on the tables where the service is provided in the workplaces where restaurants, restaurants, cafes, patisseries and similar food and beverage services are provided, in a way that can be easily seen and read by consumers.
- With the Regulation Amending the Regulation on the Trade of Second-Hand Motor Land Vehicles published in the Official Gazette dated 13.12.2023, the duration of the regulation known as the ban on the sale of new cars for 6 months or 6,000 KM has been extended to 01.07.2024 and "motorcycles" are also included in this limitation. Likewise, the prohibition on the marketing of second-hand motor vehicles through advertisements at a price above the sales price recommended by the manufacturer or distributor has been extended until 01.07.2024.
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