Turkey Parliament has enacted Law No. 7529, introducing amendments to the inflation adjustment provisions of the Tax Procedure Law (TPL) on 24 October 2024.
The main part of Law No. 7529 involves several key updates to consumer protection, electronic commerce, and tax procedure regulations:
Key Amendments:
- Consumer protection Law (No. 6502):
- Communication with consumers can now occur in writing, distantly, or using permanent data storage.
- Introduction of a Direct Sales System regulating non-employee sellers and prohibiting pyramid schemes.
- Electronic commerce Law (No. 6563):
- Adjustments to calculate license fees for electronic marketplaces, with deductions for international sales and investments.
- Tax procedure Law (No. 213):
- New provisions for inflation adjustments in investment accounts, tracked separately in financial statements.
- Administrative fines:
- Increased fines for violations related to advertising and direct sales practices, ensuring compliance with updated standards.
- Implementation Dates:
- Specific provisions effective nine months post-publication for certain articles.
These provisions aim to strengthen consumer protections, refine e-commerce regulations, and adjust tax procedures for improved compliance.
