Turkey Plans A New Cash Repatriation

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Unrecorded assets owned by real and legal persons in the form of cash, foreign currency, gold, securities, other capital market instruments, movable estate and suchlike abroad can be declared to banks and tax offices until 31 December 2016 without being subject to any tax assessment, investigation and penalties.

Government, with the expectation of "attracting billions of dollars that are seeking a reliable port across the globe into Turkey" as the Minister of Finance has put it, plans a new asset repatriation (also called asset peace), which will be the third within last eight years.

Minister also added that arrangements will be in compliance with the rules of "The Financial Action Task Force (FATF)" and other relevant international treaties.

Public Receivables Will Be Restructed In Turkey

public-receivables-will-be-restructed-in-turkeyMany of the unpaid debts and administrative penalties, accrued before 30 June 2016, related to taxes and tax penalties, customs duties, and public receivables such as social security premiums, group insurance premium, unemployment premiums, social security support contribution, general health insurance, as well as any kind of subsidiary public receivables such as interest, penalties, late fee or default interests applied to them will be restructured.

According to Government Bill of Law on Restructuring Some Receivables accepted in Parliament 3 August 2016, debtors will only pay the principal debts; and accessory receivables such as delay penalty and default interest related to these principal receivables will not be collected.

Instead of above mentioned accessory receivables, the amount to be calculated on the basis of the monthly change ratio of Domestic Producer Price Index (Domestic PPI) will be paid within the determined time and way.

Turkey's New Law On International Workforce

turkey-s-new-law-on-international-workworceTurkishLaw on the Work Permit for Foreigners No. 4817, which had been in effect since 2003 has been abrogated and substituted by "LAW ON INTERNATIONAL WORKFORCE,” which got through the Parliament on 28th July 2016.

No Fines For Not Hiring Workplace Doctor Until End Of The Year

no-fines-for-not-hiring-workplace-doctor-until-end-of-the-yearThe obligation as regard to employing occupational safety specialist and workplace doctor (occupational physician) came into effect as of July 1, 2016, however no administrative fines will be imposed for violation of these obligation until the end of 2016, as Labor and Social Security Minister  Soylu announced in a press conference.

Many of the provisions set forth in the "LAW ON OCCUPATIONAL HEALTH AND SAFETY NO. 6331" had entered into force as of December 30, 2012 for workplaces with 50 or more personnel which engage in heavy duty and hazardous operations, but the effective dates of article 6 and 7 that include the obligation of appointing or hiring occupational safety specialist and workplace doctor for every private establishments (including establishments with less than 50 personnel and/or in the scope of less hazard class) had been postponed to July 1, 2016 and now these articles is in effect.

Can You Sack an Employee Whose Faults Ignored

can-you-sack-an-employee-whose-faults-ignored

The recent ruling of a French tribunal, although it has no effect on Turkish implementation of labor legislation, nevertheless made us thinking on the importance of having good grounds for dismissal to prevent paying huge amounts of compensations.

Jérôme Kerviel, a sacked trader of Société Générale Bank has won €450,000 for his claim of unfair dismissal (100.000 euros compensation for unfair dismissal and about 300.000 euros bonus he didn’t received in 2007) last week, and become the subject of a highly controversial debate within the European business community. 

Responsibilities Of Employer

responsibilities-of-employer

Healthy labor relations in business word depend on the behavior of both the employer and employees. Duties, responsibilities and liabilities of the parties are laid down in many laws and regulation to ensure the labor peace.

In today’s article we want to touch employer’s responsibilities and obligations in which specified in various acts such as Occupational Health and Safety Law N. 6331, Labor Law N. 4857, Social Security and General Health Insurance Law N. 5510 and Law on Protection of Personal Data N. 6698.

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