The bill containing regulations regarding the economy was accepted.

On the administrative fine to be imposed, a delay interest will be applied, to be collected together with the fine, at the rate of the delay interest determined in accordance with the Law on the Procedure for Collection of Public Receivables for the periods between the date of the misdemeanor and the date of collection.

In case of recurrence of the misdemeanors included in the provision within 5 years following the date on which the administrative sanction decision regarding the same misdemeanor becomes final, the penalties to be imposed will be doubled.

The law amends the aforementioned law in accordance with the Constitutional Court's annulment decision. According to the provision, which lists the activities requiring permission from the Ministry of Treasury and Finance, it will be mandatory to obtain permission from the Ministry for activities related to foreign exchange trading for commercial purposes, as a member of the Borsa Istanbul Joint Stock Company's Precious Metals Market, for activities related to precious metal refining, and for activities within the scope of the Kimberley Process Certification System, which was decided to be a part of by a Council of Ministers decision.

The Ministry of Treasury and Finance will be authorized to cancel the licenses of joint stock companies authorized by law and legislation if it is determined that they are engaged in activities contrary to the determined economic purposes and subjects, and to determine the activity areas for companies that engage in foreign exchange trading for commercial purposes, taking into account criteria such as the size of the provinces and districts where they operate, their population, and the volume of trade and tourism.

The fee schedule for joint stock companies subject to operating permits under the Law to engage in foreign exchange trading for commercial purposes, as well as the fee schedules for operating permits to be granted to operate in precious metals as members of the Borsa Istanbul Joint Stock Company Precious Metals Market, and for operating permits to be granted to engage in precious metal refining activities are regulated.

For permits for the transfer of shares of joint-stock companies designated for commercial foreign exchange trading, membership in the Borsa Istanbul Joint-Stock Company's Precious Metals Market, and precious metal refining activities, the fee specified in the relevant tariffs will be collected separately in proportion to the shares to be transferred. If the joint-stock company granting the share transfer permit holds more than one operating permit specified in this regulation, the fee specified in the relevant tariff for each operating permit will be collected separately in proportion to the shares to be transferred. No fee will be charged if the shares to be transferred are inherited, if the share transfer results from a court decision, or if the transferee is the spouse, descendant, ancestor, or sibling of the existing shareholder.

Fees collected under this provision will be deposited with the tax authorities. Fee amounts will be increased annually, effective from the beginning of the calendar year, by the revaluation rate determined and announced in accordance with the provisions of the Tax Procedure Law for the previous year. In collecting the fees specified in the fee schedules under this regulation, the fee in effect as of the first application to the Ministry of Treasury and Finance will be taken into account. The President will be authorized to increase the amounts in the fee schedules by up to two-fold and reduce them by up to half.

According to the amendment made to the Tax Procedure Law, in cases where the attendance slip is prepared electronically within the scope of the electronic attendance slip, including coordinate-based location information and photographs of the place where the attendance was held, the signature of the police, gendarmerie, muhtar (headman) or members of the council of elders will not be required.

According to the law, the indicator number of 160 used in determining the overtime pay to be paid for each hour worked by civil servants and contract personnel in cadres or positions within the provincial organization of the Revenue Administration (GİB) who are assigned to carry out enforcement, collection, inspection, and widespread and intensive tax auditing operations outside the office and who, due to these duties, actually work outside of normal working hours, will be increased from 160 to 300. In addition, the overtime pay that can be paid to each personnel will not exceed 50 hours per month, and the number of personnel eligible for overtime pay will not exceed 40 percent of the total number of civil servants and contract personnel in cadres and positions within the provincial organization of the Revenue Administration (GİB). This provision will enter into force at the beginning of the month following the publication of the regulation.

According to the amendment to the Value Added Tax Law, the delivery of light commercial vehicles, trucks, pickup trucks, off-road vehicles in the pickup truck group, and motorcycles that will be purchased and used exclusively for national defense and internal security needs by the Ministry of National Defense, the Ministry of Internal Affairs, the Presidency of Defense Industries, and the Presidency of National Intelligence Organization will be exempt from VAT.

Transfers and deliveries regarding the sale of real estate owned by foundations under the General Directorate of Foundations and registered foundations managed by this institution will also be exempt from VAT.

The Special Consumption Tax (SCT), calculated and guaranteed on the import of goods, including fuel and natural gas, listed in List 1 annexed to the Special Consumption Tax Law, will be included in the VAT base. This provision will enter into force at the beginning of the month following the publication of the regulation.

According to the addition made to the provision regarding the exemption of the Organized Industrial Zone legal entity from all taxes, duties and charges in transactions related to the implementation of the Organized Industrial Zones Law, this exemption will not include the bank and insurance transaction tax to be paid in accordance with the Expenditure Taxes Law.

According to the amendment made to the Law on Public Officials' Unions and Collective Agreements, no administrative or financial prosecution or trial will be initiated against the authorized or responsible persons of public institutions and organizations that provide clothing aid, clothing aid, protective clothing aid, protective clothing materials, protective equipment materials to public officials until May 31, 2025, provided that the subject does not constitute a crime, in violation of the procedures and principles of collective agreements signed in accordance with the provisions of the Law and the decisions of the Public Officials Arbitration Board, and those that have already been initiated will be removed from the proceedings.

According to the Law on the Protection of the Value of the Turkish Currency and the Law on Amendments to Certain Laws, there will be changes to the Special Consumption Tax (SCT) tax base thresholds and rates for certain fossil fuel-powered passenger cars and certain hybrid cars that use both fossil fuels and have electric engines.

With the law passed by the Turkish Grand National Assembly, the Technology Development Zones Law is being amended.

Accordingly, until December 31, 2028, the income tax calculated on the portion of the wages of R&D, design, and support personnel working in the region, not exceeding 40 times the gross minimum wage, will be deducted from the income tax calculated on the minimum wage exemption stipulated in the relevant provision of the Income Tax Law. The remaining tax amount will be deducted from the tax accrued on the withholding tax return to be submitted. The portion of the documents prepared for wages in this scope not exceeding 40 times the gross minimum wage will be exempt from stamp duty. This provision will enter into force at the beginning of the month following the publication of the regulation.

According to the amendment to the Industrial Zones Law, the Ministry of Industry and Technology will decide on the addition of new areas to industrial zones or the removal of areas from industrial zones, and the relevant decision will be published in the Official Gazette.

According to the amendment to the Special Consumption Tax Law, passenger cars listed in List II of the Law with a domestic contribution rate of at least 40 percent, as well as trucks, vans, off-road vehicles in the pickup truck group, and motorcycles, will be exempt from the Special Consumption Tax upon their initial acquisition by the Ministry of National Defense, the Ministry of Interior, the Presidency of Defense Industries, and the National Intelligence Organization for use exclusively for national defense and internal security needs. Light commercial vehicles not domestically produced to meet the needs of these organizations are also included in the provision.

The President will be authorized to increase the rates for goods on List II of the Law and the lower and upper limits of the Special Consumption Tax (SCT) bases on which these rates are based, up to threefold, or to reduce them to zero, and to determine different rates for the engine cylinder volume, range, and battery capacity of passenger cars and other motor vehicles, including station wagons and racing cars, manufactured primarily for the transportation of people, provided that these rates remain within these limits.

The Special Consumption Tax (SCT) tax base thresholds and rates for some fossil fuel-powered passenger cars and some hybrid vehicles that use both fossil fuels and have electric engines are being revised. Accordingly, SCT rates will vary between 80% and 220%, depending on engine displacement and electric motor power.

For off-road vehicles classified as pickup trucks with a maximum load weight not exceeding 3,500 kilograms, the Special Consumption Tax rate will be 50 percent.

Under the amendments to the Liquefied Petroleum Gases (LPG) Market Law and the Law Amending the Electricity Market Law, distributors will be able to purchase LPG from any distributor for wholesale LPG trading, but will not be able to sell it to another distributor. This provision will enter into force on January 1, 2026.

According to the proposal approved by the General Assembly, storage licensees with available capacity in their storage facilities will be obligated to meet storage requests provided that these requests do not have detrimental or risk-increasing adverse effects on the licensee's facility or the stored LPG. The principles, procedures, and guidelines regarding these obligations will be regulated by a regulation to be issued by the Energy Market Regulatory Authority. Tariffs for storage activities will be prepared by licensees and implemented following approval by the Energy Market Regulatory Authority. The Board will decide on tariff approval requests within 30 days following the application date. The principles, procedures, and guidelines regarding these tariffs will be regulated by a regulation to be issued by the Authority. The initial tariff proposals prepared by storage licensees within the scope of this provision will be submitted to the Authority no later than December 1, 2025.

Distributors who violate the provision that "they may purchase LPG from any distributor within the scope of wholesale LPG trade but may not sell this LPG to another distributor" will be subject to administrative fines. If the license holder violates the same provisions again within two years, the distributor's license will be revoked. This provision will enter into force on January 1, 2026.

According to the amendment to the Corporate Tax Law, in order to encourage productive investments, reduced corporate tax will be applied at a rate of 60% for a maximum of 10 accounting periods starting from the first accounting period in which the right to deduction can be used. However, investment contribution amounts that are not utilized despite having profits will not be taken into account in subsequent periods.

In the application of this provision, the investment contribution amount will represent the amount of investments to be covered by the state through tax foregone by applying a reduced corporate tax. The ratio calculated by dividing this amount by the total investment made will represent the investment contribution rate. Provided the investment is completed, the remaining investment contribution amount, excluding the portion utilized by applying a reduced corporate tax, will be increased and taken into account in the years following the accounting period in which the investment is completed, in accordance with the provisions of the Tax Procedure Law, at the revaluation rate determined for those years.

The President will be authorized to group provinces and districts by taking into account the classification of statistical regional units and per capita national income or socioeconomic development levels, and to determine the investment and employment sizes related to the investments made in Gökçeada and Bozcaada, sectors, technology areas, R&D or design activities, industrial zones, cultural and tourism protection and development zones or investment subjects to be incentivized in terms of incentive programs to be established, and the investment contribution rate for these investments, not to exceed 50 percent.

The President is authorized to partially utilize the investment contribution amount by applying a reduced corporate tax rate to the institution's earnings from other activities until the end of the fourth accounting period, including the first accounting period in which the deduction right can be exercised, not to exceed 50 percent of the total investment contribution amount and the entitled investment contribution amount, as a deduction from the investment contribution amount to be calculated in accordance with this provision within the investment incentive certificate, or to reduce this rate to zero; and to limit the proportions of expenses such as land, buildings, used machinery, spare parts, software, patents, licenses, and know-how within investment expenditures, either individually or collectively. Furthermore, the President is authorized to increase the time periods and rates for project-based investments within the scope of the Law on Project-Based Support for Investments and Amendments to Certain Laws and Decree Laws.

This provision will enter into force on the date of publication of the regulation and will be applied to investment incentive certificates received as of the date of publication, except for those whose applications were submitted and not rejected before June 16, 2025.

The provision regarding the income tax withholding incentive in the Law on Support for Research, Development, and Design Activities is being amended. Accordingly, the income tax calculated on the portion of the wages earned by R&D and support personnel within the scope of the Law and design and support personnel working on design projects and design centers supported by specified institutions and organizations, not exceeding 40 times the gross minimum wage, will be deducted from the tax accrued on the withholding tax return. 95% of the income tax calculated on the wages earned by design and support personnel in return for these works, for those with a doctorate and at least a master's degree in one of the supported program fields, 90% for those with a master's degree and a bachelor's degree in one of the supported program fields, and 80% for all others, will be deducted from the tax accrued on the withholding tax return. In addition, the exemption amount for stamp duty collected on papers issued in relation to all R&D and innovation activities and design activities within the scope of the Law will not exceed 40 times the gross minimum wage.

With the amendment to the Law on Support for Research Infrastructures, the exemption amount for the income tax and stamp duty of papers prepared in this scope for the wages of R&D and support personnel working in research infrastructures, excluding public personnel, related to their duties will not exceed 40 times the gross minimum wage.

Provisions regarding exemptions for R&D and support personnel will enter into force at the beginning of the month following the publication of the regulation.

According to the provision added to the Decree Law on Funding for Research, Development, Innovation and Entrepreneurship Activities of the Ministry of Industry and Technology, the Minister of Industry and Technology will be authorized to make payments to the Defense Industry Support Fund from the budget allocated to the Turkish Space Agency for the work it carries out within the scope of its duties related to space and aviation science and technology activities, in order to perform the relevant services until December 31, 2025.

Five new articles were introduced to the regulation in the Turkish Grand National Assembly General Assembly.

Accordingly, the Law on Certain Financial Provisions in the Field of Labor and Social Security will be amended. The Ministry of Labor and Social Security will be able to carry out its duties, which arise from legislation and must be carried out in the provinces, through the provincial organizations of the Ministry's affiliated and related institutions.

The amendment to the Labor Law stipulates that notifications within the scope of the Law may be made via registered electronic mail, provided the employee accepts them and, excluding notifications that would result in termination of employment, these notifications are considered legally valid as if they were written or signed. This provision will enter into force on January 1, 2026.

The amendment to the Turkish Employment Agency Law aims to collect and monitor all job opening information related to the labor market in a single, national system. Accordingly, private employment agencies will be required to electronically report to İŞKUR the job postings they publish and the data on the individuals they refer to these vacancies. This regulation will enter into force on January 1, 2026.

According to another provision added to the regulation, private employment agencies that fail to report data on job postings and individuals directed to them, as specified in the relevant provision, in accordance with the timeframe, format, and principles set by the Agency, will be subject to a warning. Those who fail to report within seven days despite a warning will be subject to an administrative fine of 136,190 lira, and if the offense is repeated within one year, they will be subject to an administrative fine of 272,380 lira.

The amendment to the Social Security and General Health Insurance Law will allow applications to be submitted to the Social Security Institution from abroad under repealed laws and other social security-related laws. Accordingly, applications deemed appropriate by the Ministry will be accepted through labor and social security counselors or attachés abroad.

On the other hand, a provision was removed from the regulation that envisages an amendment to the Free Zones Law and that will exempt the profits of taxpayers engaged in production activities in free zones from income or corporate tax.

Following the approval of the regulation in the General Assembly, Deputy Speaker of the Grand National Assembly of Turkey Tekin Bingöl adjourned the session to meet at 14:00 due to the completion of the agenda items.

The photograph was provided by AA and is representative.