Key Points To Consider When Preparing An Annual Activity Report

I. Introduction

For companies, the requirement to prepare an annual activity report was first stipulated under the former Turkish Commercial Code No. 6762 ("Former TCC"). Even though a general definition was included in the Former TCC, Article 516 of the subsequent Turkish Commercial Code No. 6102 ("TCC") broadened the scope of the annual activity report and underlined its importance.

In this respect, Article 516/3 of the TCC granted the Ministry of Trade the authority to determine the minimum required content of the annual activity report. As a result, the Regulation on the Minimum Content of Annual Activity Reports of Companies, prepared by the Ministry of Trade, was published in the Official Gazette No. 28395, dated August 28, 2012 ("Regulation").