Carriage of Goods by Sea
There are many ways goods can be shipped by sea. Many exporters who sell abroad regularly will ship their goods in containers. If their volumes are sufficient to fill a container then the container will contain only their goods, this is a Full Container Load [FCL] shipment. If the goods are insufficient or consists of …
Value Added Tax Aspect of Disguised Profit Distribution Through Transfer Pricing
Disguised profit distribution through transfer pricing is one of the tax security methods regulated under Article 13 of Corporate Tax Law No. 5520 (“CTL”). Pursuant to this article, if corporations purchase or sell goods or services with related parties at prices determined contrary to the arm’s length principle, the profit is deemed to have been …
Continue reading “Value Added Tax Aspect of Disguised Profit Distribution Through Transfer Pricing”
Turkish Mortgage Covered Bonds
Introduction Mortgage covered bonds are one of today’s most common structured finance products. Although they have a prominent presence in the marketplace today, these bonds have historical roots in the Pfandbrief of 18th century Prussia. In the aftermath of the Seven Years War, King Frederick the Great implemented new a mortgage finance mechanism and provided …
The Practice of Green Bonds in the World and Turkey
“Green Bonds” are, in brief, fixed income securities issued for borrowing from the markets in accordance with the conditions in the prospectuses accepted by the issuers, designed specifically for use in preventing climate change or for other environmental projects. In addition to promoting sustainability, these bonds provide certain tax advantages.
The Legal Nature of Representations and Warranties in Share Purchase Agreements
Introduction In a share purchase transaction of stock corporations, the assets, management or actives and passives of the company are not directly transferred, instead, the partnership rights over the company is transferred. The legal nature of the share purchase transaction is not transfer of an asset, it is a transfer of a right.
Receivable Rights in the Context of Capital Contribution
Introduction Arguably, one of the most important principles of joint stock companies is the principle of capital maintenance. This principle is one of the founding principles of Turkish Commercial Code No. 6102 (“TCC”), as well as being one of the principles adopted in the Civil law countries along with the legal capital system.[1] The two …
Continue reading “Receivable Rights in the Context of Capital Contribution”
Interim Injunctions Under Competition Law: The Turkish Competition Board’s Retailers, WhatsApp and Trendyol Decisions
Introduction Pursuant to Article 9/4 of the Law on Protection of Competition (“Law No. 4054”), “where serious and irreparable injuries are likely to occur before the final decision, the Board may take interim measures in order to maintain the situation before the infringement, without exceeding the scope of the final decision.” Accordingly, the Turkish Competition …
Constitutional Court Decided That Lack of Jurisdiction Decision Rendered due to Arbitration Agreement Does Not Violate the Right to Property
Introduction It is well known that the existence of a valid arbitration agreement in dispute resolution eliminates the jurisdiction of the courts. If, despite the existence of a valid arbitration agreement, one of the parties takes the dispute to court and the opponent party raises objection to the jurisdiction, the court must decide that it …
What are the punishments for forging documents to apply for a bank loan?
What constitutes forgery: ‘Forgery’ refers to the action of forging or producing a copy of a document, signature, banknote, or work of art etc. An act of forgery can lead to charges of fraud and or misrepresentation in the UAE. Article 216 of the Federal Law number Federal Law No. 3 of its 1987 concerning …
Continue reading “What are the punishments for forging documents to apply for a bank loan?”
How to Check If You Are Part of the Social Media Data Breach?
Data breach have become quiet a common feature of today’s time of hyper online connectivity. This can lead to situation of your data getting stolen or instances of data breach and privacy violations, whether intentional or otherwise. In this article we will take you through the main points that are to be considered to avoid …
Continue reading “How to Check If You Are Part of the Social Media Data Breach?”