Turkish Commercial Code No. 6102 dated July 1, 2012 ('the Law') implemented a
number of provisions and brought additional obligations for capital companies.
One of such obligations set forth by the Law is the obligation to have a
dedicated website. According to Article 1524 of the Law, all capital companies
subject to auditing are also required to open a dedicated internet website and
publish certain information.
Non-resident companies and/or foreign individuals may choose to enter
into Turkish market through incorporation of a commercial entity. Find
below a summary of relevant information regarding available company
types, branches and liaison offices.
One of the common legal transactions in either
international or domestic business that is often preferred is the assignment of
one or more receivable of the main contract concluded between the original
party to a third party assignee. Furthermore, assumming the importance and
advantages of arbitration for the original parties of the main contract such as
as "neutrality", "cost and speed", "party autonomy", "confidentiality" etc.  , this
main contract often includes an arbitration clause. One of the significant problems
that arises in such case, is whether the assignee shall be automatically bound
by this arbitration clause even though nor the assignee neither the debtor
expressly approve the transfer of the arbitration clause together with the
receivable subject to the main contract, in case of the assignment of such
The Turkish Labor Law No. 4857 ('the Law') sets forth
the procedures and the circumstances for termination of employment contracts of
employees by employers. With the confines of the Law, two separate termination
mechanisms, namely rightful (just) termination and termination based on
justifiable cause are available.
The value added tax
(VAT), is a type of indirect turnover based tax that is levied during the final
phase of the purchaser of the goods and is included in the price of the
purchased item or service. Being a turnover tax, VAT is levied at each stage of
the production and the distribution process as well. Although liability for the
tax rests on the person who supplies or imports the goods or services, the real
burden of VAT is borne by the final consumer (shifting feature). This means that
such type of tax is characterized by its shift. It is non-cumulative, based on
the method of invoice (only Japan is the exception), aimed at entrepreneurs as
well. Tax shifting is the most important concept associated with VAT. With the
deduction mechanism the difference between the VAT liability of a person on his
(their) sales (output VAT) and the amount of VAT, has been already paid by them
on his (their) purchases (input VAT). This brief article targets to summarize
and compare the VAT systems of Turkey and of Poland with consideration on the
general applications of VAT in EU countries.