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Turkey has been one of the fastest growing economies during the course of the last decade. Its strong and resilient economy has transformed Turkey in to one of the most important economic hubs in its region.

In the field of defense industry, a new system of governance has been established through the Law#3238 ratified in 1985 in order to realize planning and coordination, taking quick decisions and execution (especially for imports, exports, modernization, re

In Turkey, many of the governmental authorities shall apply to procurement of goods, services or works under Public Procurement Law #4734 (PPL). In the same manner, the contracts in public purchase of goods, services and works refer to this law’s “con

Mixed signals are recently coming from the Turkish Banking sector. The industry, on the one hand, has recently seen an unprecedented level of volume which is estimated to be USD$ 855 billion to dwarf the economic might of 22 of the 28 EU

Majority of companies in Turkey are family owned companies as their equivalents around the world. It is predicted that over 70 % of companies are family owned companies in the world. Family owned companies differ from other companies by their policies and

LPG market is regulated under the Law of Liquefied Petroelum Gases (LPG) Market Law and Amending Law to Electricty Market Law, Law No: 5307 (“Law”) in Turkey. Accordingly, it is obligatory to obtain a license in order to carry out distribution, transp

In an increasingly globalized world where the consumer habits manifest changes almost on a daily basis the payment mechanisms have to keep abreast with such rapid developments. A world where the conventional methods of payment based on physical exchange o

In an increasingly globalized world where the consumer habits manifest changes almost on a daily basis the payment mechanisms have to keep abreast with such rapid developments. A world where the conventional methods of payment based on physical exchange o

Tax Liability in Joint Stock Companies As is known, administration and representation of joint stock companies are carried out by board of directors of the company. Members of board of directors can be elected by general assembly of the company from among

According to the New Regulation on Undertaking of Liabilities by the Undersecretariat of Treasury (“Regulation”), which has entered into force on 19.04.2014, the Treasury may provide guaranty

As well as the company establishment, an investor may take decision for termination of his/her company or a company’s termination conditions stated in the laws may occur such that start of a liquidation process becomes unavoidable for the company. Liquida

Turkey has been incrementally applying for new implementations on the grounds of mitigate the current account deficit. New Individual Retirement System is one of the most efficient way for this new austerity plan. In the scope of this revolution, Turkish