Pursuant to the Labor Law, there are various types of employment contracts:

a) Employment contracts for “temporary” and “permanent” work
b) Employment contracts for a “definite period” or an “indefinite period”
c) Employment contracts for “part-time” and “full-time” work
d) Employment contracts for “work-upon-call”
e) Employment contracts with a trial period
f) Employment contacts constituted with a team contract

Employment contracts are exempt from stamp tax and any type of duties and fees.

Any kind of discrimination among employees with respect to language, race, gender, political opinion, philosophical approach, religion or similar criteria is prohibited by law. Discrimination based on the gender of an employee is prohibited when determining the amount of remuneration for employees working in the same or equivalent jobs.

Working Hours and Overtime
Under the Labor Law, the maximum regular working hours are 45 hours per week. In principle, 45 hours should be split equally among the working days. However, in accordance with the Labor Law, working hours may be arranged by the employer within the legal limits.

As a rule, hours exceeding the limit of 45 hours per week are to be paid as “overtime hours”. The wage/salary for each hour of overtime work is paid by raising the hourly rate of the regular working salary by fifty percent. Instead of the overtime payment, employees may be granted 1.5 hours of free time for every overtime hour worked. Overtime hours worked during weekends and public holidays are to be paid as wage for one-day holiday and overtime wage. These rates may be increased on the basis of a collective or personal employment contracts between employees and employers. The total number of overtime hours worked per year may not exceed 270 hours.

Annual Paid Vacation
There are six paid public holidays per year (January 1^st, April 23^rd, May 1^st, May 19^th, August 30^th, October 29^th), plus two paid periods of religious holiday, which comes to eight days in total.
Employees are entitled to paid annual vacation for the periods indicated below, provided that they have worked for at least one year including the probation period:

These benefits are the minimum levels set by law and may be increased on the basis of a collective or personal employment contracts.

As per the Regulation regarding the Payment of Wages, Premiums, Bonuses and Any Other Remuneration, in case the employer recruits at least 5 workers within the same workplace or across the whole country; any payment to workers shall be made through banks. If wage and salary amounts are not paid into employees’ bank accounts, an administrative penalty is charged to the employer. It is possible to denominate wages/salaries in terms of a foreign currency. In this case, wages/salaries shall be paid in TRY calculated on the basis of the relevant foreign currency rate prevailing as of the payment date.

 Date: 13 March 2017

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

If you don’t own a junk car, TRY 10.000 shall be reduced from the calculated SCT and then rest of the amount shall be written as expense.

Source: İSMMMO
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

With robust market growth fueled by downstream industries, Turkey is an attractive investment location for chemical companies. The sustainability of growth in customer industries in Turkey is unquestionably a source of strength. The following factors also make Turkey an attractive investment destination:

• Advanced transportation infrastructure provides flexibility, convenience and additional cost savings for manufacturers.
• Turkey’s plastics sector is the 2nd largest producer in Europe and 7th largest in the world; Turkey aims to become the top producer in Europe by 2016.
• Turkey is the 2nd largest net importer of petrochemicals in the world.
• Turkey is the 17th largest automotive producer in the world.
• In the construction sector, 42 of the top 250 international contractors are Turkish.
• Turkey is the 4th largest paint producer in Europe.
• As a strong manufacturing and conversion hub, Turkey is one of the largest European consumers for textile and construction chemicals.
• Turkey has the 7th largest agricultural production in the world, while its demand for fertilizer is the 10th highest in the world.
• Turkey is located close to large and growing trade markets.

Over the coming years, Turkey’s chemical industry is poised for extraordinary growth with exports projected to reach USD 50 billion by 2023.

Turkey has six strategic goals as part of the government’s Vision 2023. These include;

• manufacturing high value-added products,
• transforming facilities to enable high value-added production,
• structuring R&D policies,
• educating a high-skilled work force,
• developing and ensuring an environment of cooperation, and
• increasing demand for locally manufactured products.

 Date: 13 March 2017

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

The conditions for setting up a business and share transfer are the same as those applied to local investors. International investors may establish any form of company set out in the Turkish Commercial Code (TCC), which offers a corporate governance approach that meets international standards, fosters private equity and public offering activities, creates transparency in managing operations, and aligns the Turkish business environment with EU legislation as well as with the EU accession process.

Company Types under TCC and Alternative Forms

There are corporate and non-corporate forms for companies under the TCC, which states that companies may be established under the following types:

a. Corporate forms

• Joint Stock Company (JSC)
• Limited Liability Company (LLC)
• Cooperative Company
  Although some financial thresholds (i.e., minimum capital) and organs differ from each other, the procedures to be followed for establishing a JSC or an LLC are the same.b. Non-corporate forms 
• Collective Company
• Commandite Company
  Although companies may be established according to these five different types, JSC and LLC are the most common types chosen both in the global economy and Turkey.In addition to these types of companies, branches and liaison offices may also be considered as two further alternatives when setting up a business in Turkey. However, branches and liaison offices are not considered to be legal entities.

  Establishing a Company

  When establishing a company in Turkey, one needs to adhere to the following rules and regulations:
  
  c. Submit the memorandum and articles of association online at MERSIS  
  Pursuant to the Trade Registry Regulation, trade registration transactions must be fulfilled through MERSIS (Central Registry Record System).

  MERSIS is a central information system for carrying out commercial registry processes and storing commercial registry data electronically on a regular basis. A unique number is given to legal entities that are actively involved in business. Online establishment of new companies is possible on MERSIS, and already-established companies may operate through the system after the transfer of their records.

  d. Execute and notarize company documents
  The following documents are required for registry application at the relevant Trade Registry Office:

• Notarized articles of association (four copies, one original)
• In case the foreign partner is a real person, the required documents are: o For each real person shareholder, two copies of their passports
• In case the foreign partner is a legal entity, the required documents are:
  o The Certificate of Activity of the legal entity designated as the shareholder issued by the relevant authority in the investor’s country. The certificate must bear information regarding the current status and signatories of the company. o Resolution(s) of competent corporate organ of legal entity shareholder(s) authorizing the establishment; if there will be any specific condition for the prospective company to be incorporated (name of the company, field of activity, etc.) it must be stated in the resolution for the sake of clarity.
  o In case a legal entity is going to be appointed as a member in the board of directors of the prospective company to be incorporated, the name of the real person who will act in the name of the legal entity and the legal entity board member’s appointment must be stated within the same or with a separate resolution for the sake of clarity.
  o If the process is going to be followed by proxy, a notarized copy of a power of attorney authorizing the attorneys who will follow up the application before the competent Trade Registry Office and other official authorities in order to proceed with the application (where applicable).
• Notarized signature declarations (two copies)
• Notarized identity cards of the company managers (one copy)It should be noted that, except the first item above, all the necessary documents that will be issued and executed outside Turkey must be notarized and apostilled or alternatively ratified by the Turkish consulate where they are issued. The original executed, notarized, and apostilled documents must be officially translated and notarized by a Turkish notary.

  e. Obtain potential tax identity number
  A potential tax identity number for the company, non-Turkish shareholders, and non-Turkish board members of the company, must be obtained from the relevant tax office. This potential tax identity number is necessary for opening a bank account in order to deposit the capital of the company to be incorporated.

  The documents required by the tax office are as follows:
  

• Petition requesting registration
• Notarized articles of association (one original)
• Copy of the tenancy contract showing the registered address for the company
• If the process is going to be followed by proxy, a power of attorney must be issued specifically showing the authority to act on behalf of the company before the tax authority in order to obtain a tax identity number or potential tax identity numberf. Deposit a percentage of capital to the account of the Competition Authority
  Original of bank receipt (from Halk Bank, Ankara corporate branch) indicating that the 0.04 percent of the capital has been deposited to the account of the Competition Authority at the Central Bank of the Republic of Turkey (CBRT) or a public bank, or the EFT receipt signed and stamped
  “collected” (account no: 80000011 – IBAN no: TR40 0001 2009 4520 0080 0000 11), which shows an amount equal to 0.04 percent of the company’s capital has been paid to the account of the Competition Authority.

  g. Deposit at least 25 percent of the startup capital in a bank and obtain proof thereof
  25 percent of the share capital must be paid in prior to the new company registration. The remaining 75 percent of the subscribed share capital must be paid within two years. Alternatively, the capital may be fully paid prior to registration.

  h. Apply for registration at the Trade Registry Office
  Pursuant to gathering the following documents, founders may apply for registration:

• Petition requesting registration
• Four copies of incorporation notification form
• Four copies of the notarized articles of association (one original)
• Bank deposit receipt with respect to the payment made to the bank account of the Competition Authority (0.04 percent of the company’s share capital)
• For each person authorized to represent the founders of the limited liability company, two copies of the signature declarations
• Founders’ declaration (one original)
• Chamber of Commerce registration form (two different forms for two different shareholder types: real person shareholder or legal entity shareholder)
• The written statement of non-shareholder members of board of directors that states acknowledgement of this duty
• Bank certificate of the paid-in minimum capital deposit (at least 25 percent of subscribed capital). If there will be any capital contribution in kind:
  o The expert report regarding the capital in kind o The statement of the relevant registry indicating there is no limitation on that capital in kind
  o The document indicating the annotations have been done to relevant registries regarding the capital in kind
  o The written agreements between founders, other persons, and the founding company regarding the foundation of the companyFollowing completion of the registration phase before the Trade Registry Office, the Trade Registry Office notifies the relevant tax office and the Social Security Institution ex-officio regarding the incorporation of the company. The Trade Registry Office arranges for an announcement in the Commercial Registry Gazette within approximately 10 days of the company registration. A tax registration certificate must be obtained from the local tax office soon after the Trade Registry Office notifies the local tax office.

  A social security number for the company must be obtained from the relevant Social Security Institution. For the employees, a separate application has to be made following the registration of the company with the Social Security Institution.

  i. Certify the legal books by a notary public
  The founders must certify legal books the day they register the company with the Trade Registry Office. The notary public must notify the tax office about the commercial book certification

• Journal
• Ledger
• Inventory book
• Share ledger
• Manager’s meeting minutes book
• General assembly meeting minutes bookj. Follow up with the tax office on the Trade Registry Office’s company establishment notification
  The Trade Registry Office notifies the tax office and the Social Security Institution of the company’s incorporation. A tax officer comes to the company headquarters to prepare a determination report. There must be at least one authorized signature in the determination report. Trade Registry Officers send the company establishment form, which includes the tax number notification, to the tax office.

  Issuance of signature circular: After the company has been registered before the Trade Registry the signatories of the company must issue a signature circular.

  Branch Office

• No shareholder
• Not an independent legal entity. Its duration is limited to the duration of the parent company
• No capital requirement, however, it would be wise to allocate a budget for the operations of a branch office
• A branch office may be incorporated only for the same purposes as those of the parent company
• Repatriation of branch profit is allowed. The branch profit transferred to the headquarters is subject to dividend withholding tax at a rate of 15 percent, which may be reduced by Double Taxation Prevention TreatiesGetting registered at the Trade Registry Office 
  An application with the following documents must be submitted to the relevant Trade Registry Office for the registration of a branch:
• Petition (must be signed either by an authorized signatory under the company seal or by proxy; if signed by the latter, then the original or the notarized copy of the power of attorney must be attached to the petition)
• The resolution of the competent organ of the parent company to open a branch
• A certified original copy of the parent company’s articles of association
• Certificate of Activity of the parent company or any equivalent documentation that sets forth registration and current status of the parent company
• A power of attorney granted by the parent company in favor of its resident representative, assigning full representation and accountability
• Five copies of the Establishment Declaration Form (the related fields must be filled and signed by the authorized person)
• Two copies of the power of attorney stating the representative in Turkey
• If the branch representative is a Turkish national, a notarized copy of his/her ID card. If not, a notarized copy of the authorized representative’s passport translated into Turkish
• Two copies of the signature declarations of the branch representative under the branch title
• A letter of commitment (signed by authorized person)
• A Chamber Registry Declaration Form Statement to be obtained from the Trade Registry Office (including photographs of the branch representatives)
  It should be noted that all the necessary documents that will be issued and executed outside Turkey must be notarized and apostilled or alternatively ratified by the Turkish consulate where they are issued. The original executed, notarized, and apostilled documents must be officially translated and notarized by a Turkish notary.Liaison Office
• Main activity is to conduct market research and feasibility studies and to oversee investment opportunities in the Turkish market on behalf of the parent company
• Not allowed to carry out any commercial activity
• Required to obtain permit from the Ministry of Economy, General Directorate of Incentive Implementation and Foreign Investment
• The condition of being operational for at least one year might be sought for permit
• The initial permit is issued for three years and can be extended depending on the activities in the past three years and the future plans of the parent company
• Applications of international investors to establish liaison offices to operate in sectors that are subject to special legislation, such as money and capital markets, and insurance, etc., are assessed by the relevant authoritiesPermit from Ministry of Economy
  The documents required by the Ministry of Economy for establishing a liaison office in Turkey are as follows:
• Application form
• The Letter of Commitment indicating the liaison office’s field of activity, a written statement that the liaison office will not carry out commercial activities, and the authorization document of the parent company official who signed the letter
• The Certificate of Activity of the parent company
• Activity report or balance sheet and income statement of the parent company
• The certificate of authority issued in the name of the person/persons who is/are appointed to carry out the operations of the liaison office
• The power of attorney in case another person will carry out the establishment transactions of the liaison officeIt should be noted that all the necessary documents issued and executed outside Turkey must be notarized and apostilled or alternatively ratified by the Turkish consulate where they are issued. The original executed, notarized and apostilled documents must be officially translated and notarized by a Turkish notary.
  It should be noted that all the necessary documents issued and executed outside Turkey must be notarized and apostilled or alternatively ratified by the Turkish consulate where they are issued. The original executed, notarized and apostilled documents must be officially translated and notarized by a Turkish notary.

Date: 13 March 2017

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Economic expansion, rising per capita income, positive demographic trends, and the rapid pace of urbanization have been the main drivers of energy demand, which is estimated to increase by around 6 percent per annum through 2023. In order to satisfy the increasing demand in the country, the current 80-GW installed electricity capacity is expected to reach 120 GW by 2023 through further investments to be commissioned by the private sector. As part of its efforts to provide sustainable and reliable energy to consumers, Turkey offers investors favorable incentives, such as feed-in-tariffs, purchase guarantees, connection priorities, license exemptions, etc., depending on the type and capacity of the energy generation facility.

In the last 15 years, the Turkish government has made significant reforms in the provision of energy. Turkey has moved forward the participation of private entities, and thus created a more competitive energy market. The privatization of energy generation assets, coupled with a strategy to clear the way for more private investments, has resulted in an increased share of private entities in the electricity generation sector, from 32 percent in 2002 to 75 percent in 2017. Another step taken by the Turkish government towards a more competitive energy sector is the establishment of an energy stock company, EXIST, which is responsible for managing and operating energy markets, including power and gas commodities.

In addition to having a huge domestic market, Turkey occupies a strategic location between a number of major energy consumers and suppliers, and thus serves as a regional energy hub. The existing and planned oil/gas pipelines, the critical Turkish straits, and promising finds of hydrocarbon reserves within the country itself give Turkey increased leverage over energy prices and reinforce its gateway status.

Opportunities for renewable forms of energy production – hydro, wind, solar, and geothermal – are abundant in Turkey, and encouraging policies backed by favorable feed-in tariffs are expected to increase their share in the national grid in the coming years. The Turkish government has made it a priority to increase the share of renewable sources in the country’s total installed power to a remarkable 30 percent by 2023. This will run in parallel to the government’s commitment to energy efficiency, whereby it is enacting laws that set principles for saving energy, at both individual and corporate levels, as well as providing incentives to energy efficiency investments. For example, the Turkish government introduced the new Renewable Energy Resource Zone (YEKA) model in 2016 in order to commission large-scale renewable energy projects through utilization of locally-manufactured components in the renewable power plants. Under the model, the largest-ever solar power auction in Turkey’s history took place on March 20, 2017, while a similar tender for 1-GW wind power plants took place in August 2017 with local manufacturing and R&D requirements.

As important as the renewables are for Turkey’s energy strategy in the coming years, technologies in such fields as waste processing and greenhouse gas reduction are also often cited together with this new form of power generation as critically important supplementary practices. Sustaining the environment by resorting to renewable resources is accompanied by a number of measures and regulations that are either currently in effect, or will soon be in effect. Some of these regulations deal with lowering carbon emissions, increasing generation/transmission efficiency, and promoting the use of waste management technologies.

The sum of these factors has had a profound effect on Turkey’s energy sector, turning it into one of the most attractive investment destinations in the world. In line with the implementation of investor-friendly regulations and the high increase in demand, the Turkish energy sector is becoming more vibrant and competitive, attracting the attention of more investors for each component of the value chain in various energy sub-sectors.

The total investments required to meet Turkey’s expected energy demand in 2023 is estimated to be around USD 110 billion, more than double the total amount invested over the last decade.

Turkey’s vision for 2023, the centennial foundation of the Republic, envisages targets for the energy sector in Turkey that include:

• Raising the total installed power capacity to 120 GW
• Increasing the share of renewables to 30 percent
• Maximizing the use of hydropower
• Increasing the installed capacity based on wind power to 20,000 MW
• Installing power plants that will provide 1,000 MW of geothermal and 5,000 MW of solar energy
• Extending the length of transmission lines to 60,717 km
• Reaching a power distribution unit capacity of 158,460 MVA
• Extending the use of smart grids
• Raising the natural gas storage capacity to more than 11 billion m3
• Commissioning nuclear power plants (two operational nuclear power plants, with a third under construction)
• Increasing the coal-fired installed capacity from the current level of 17.3 GW to 30 GW

Source: http://www.invest.gov.tr/en-US/sectors/Pages/Energy.aspx

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Turkey’s move to increase tariffs on US imports has helped boost its weakened currency.

A decree signed by President Recep Tayyip Erdogan raised the tariffs on cars to 120%, on alcoholic drinks to 140% and on leaf tobacco to 60%.

The lira rose 3%, also helped by measures aimed at deterring foreign investors speculating on the lira.

Despite the rise, Turkey’s currency has lost almost a third of its value against the dollar since January, pushing up the price of everyday items and raising fears that its weakness could infect other emerging market currencies.

Explaining the new tariffs, Turkish Vice-President Fuat Oktay said the rises were ordered “within the framework of reciprocity in retaliation for the conscious attacks on our economy by the US administration”.

Tariffs were also increased on cosmetics, rice and coal. Turkey had previously said it would boycott US electronic products.

Turkish Trade Minister Ruhsar Pekcan told the state run Anadolu news agency that the doubling of tariffs on some imported US products would amount to $533m.

Source: BBC
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Turkey’s business sector exhibits one of the highest investment rates among OECD countries. However, the 2018 Economic Survey of Turkey (OECD, 2018) suggests that the quality of investment could be enhanced by overcoming the fragmentation of the business sector and by improving the current business environment. A comprehensive micro dataset allowed to distinguish four types of firms whose investment dynamics and challenges differ: i) small businesses with a high degree of informality, ii) medium-sized family firms, iii) large listed corporations, and iv) skilled young start-ups. There is room for increasing the share of knowledge-based and long-term investments – notably innovation, training, digitalisation and R&D investments – in all these types of firms at lower and internationally competitive investment costs.

The small informal businesses – which employ the largest share of Turkey’s labour force – have very  limited access to bank credits and no access to external equity capital as of today. Their ability to fund long-term knowledge-based assets is highly restricted. Medium-sized family firms which have played a central role in Turkey’s strong growth over the past decade are better endowed, and keener, to invest in long-term assets, but are over-leveraged vis-à-vis domestic banks, which restricts their additional investment capacity. Domestic bank loans are also typically of short maturity and entail roll-over risks for the financing of long-term investments. Even so, the majority of family firms refrain from reaching out to securities markets and to external shareholders. Large, listed firms have, in contrast, a good access to national and international debt and equity securities markets, but Turkey’s high risk premia increase their cost of financing above international competitors’. The last group of young skilled start-ups is backed by myriad government incentives at their phase of emergence, but need more risk-sharing and long-term private capital to continue to expand.

Cultivating Turkey’s equity eco-system would help these different types of firms to develop their long-term, knowledge-based, productivity-enhancing investments. Some obstacles include limited financial transparency of firms, incompatibilities between local and international governance standards, complex and frequently changing tax and subsidy systems, and too restrictive labour market rules which reduce the flexibility of firms and amplify investment risks in the formal sector. The modernisation of the business environment in all these domains would accelerate the emergence of more equity-specialised financial intermediaries, accounting experts, legal and financial advisors, research analysts and market makers. The development of this eco-system is essential for improving mutual confidence between all types of enterprises and potential investors from their local, national and international environments.

The modernisation of the business environment has been ranking high on the government’s agenda for some time. Domestic and regional geo-political circumstances have so far limited progress, and even led to setbacks in some areas such as the rule of law, judiciary independence or the fight against corruption. With the tempering of political uncertainties after the June 2018 elections, a window of opportunity opens for resuming the reform process. The OECD Survey suggests that a three-fold modernisation strategy emphasising i) the formalisation of informal and semi-formal businesses, ii) the introduction of more state-of-the-art management and digital skills in all types of firms, and iii) the rebalancing of financing structures from debt to equity would help the entire business fabric to upgrade the quality of capital formation. Progress would not only contribute to the rebalancing of growth through a more productive and internationally competitive business sector, but also to social inclusion and cohesion through the creation of high-quality formal sector jobs in the entire country.

Source: OECD
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Turkish GDP per capita has continued to catch up with the more advanced OECD economies. Despite a series of adverse shocks including severe geo-political tensions at the southeastern border and an averted coup attempt in 2016, GDP growth averaged nearly 7% over 2010-17 (Figure 1, Panel A). Labour productivity now exceeds that of several other catching-up OECD economies (Panel B), notwithstanding the prevalence of low-productivity informal activity, especially in agriculture. This reflects the strong performance of a dynamic, albeit fragmented, business sector. Despite dynamic job creation and a labour force growing at above 3% per year, the employment rate of the working age population remains the lowest in the OECD.

Source: OECD
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

According to Labor Law article no.63, before weekends employee needs to work full on workdays to have holiday.

For instance; If there is 45 hours of working plan in six days in your work place, you need to work full to have weekend holiday.

Weekend holiday’s duration is 24 hours and must be used uninterrupted.

Source:Labor Law
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

In the labor contracts whose probation period is not determined, denouncement starts instantly.
It could be 2 days at most, if probation period is put in labor contract.

(It could be exceeded up to 4 months if it is a collective labor contract.

On the condition of an agreement between the parties, probation period can be decided less than two months.

Within probation period, the parties are able to terminate without period of notice or indemnity.

If probation period is determined, and one of the parties decides to terminate within this peculiar period, indemnity payment will not be made. Contract of employment will not be continued. Wage and vested benefits needs to be paid to the worker. 

Source:Labor Law 4857
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.