This article explores the principles and provisions related to the taxation of capital gains as stated in Article 13 of the OECD Model Tax Convention. It examines the variations in capital gains taxation across countries and discusses the OECD Model Convention as a framework for negotiating bilateral tax treaties. 

Ozlem Barut has joined the International Finance Corporation as a Counsel in the compliance department.

According to the December 2022 Digital, Internet and Mobile Banking Statistics published by the Banks Association of Turkiye, the number of customers using active digital banking, mobile banking and internet banking services in Turkiye reached 94 million, with an increase of around 16.5 million in comparison to the previous year.

Pinar Ozercan has joined Jaguar Land Rover as Legal Transformation and Compliance Lead.

With its decision dated 23.03.2023 and numbered 2019/40991, published in the Official Gazette dated 20.06.2023 and numbered 32227, the Constitutional Court [the “Court”] ruled that the on-site investigation carried out at the workplace within the scope of the investigations conducted by the Competition Board without a judge's decision violated the inviolability of domicile guaranteed under Art. 21 of the Constitution.

Egemenoglu has advised the shareholders of Tunay Gida on its sale to International Beer Breweries. The Ciftci Attorney Partnership in association with Clifford Chance reportedly advised IBB.

On July 7, 2023, Value Added Tax ("VAT") rates have been significantly increased with the Amendment Decree ("Amendment Decree") to the Decree on Determination of Value Added Tax Rates Applicable to Goods and Services numbered 7346 ("Decree") published in the Official Gazette dated July 7, 2023 and numbered 32241.

June 2023 – In May 2023, the Turkish Personal Data Protection Authority (the “DPA”) published two data breach notifications but did not publish decision.

Lexist has advised the TWF IFM Real Estate Construction and Management joint stock company on the regulation to establish the Istanbul Financial Center.

ISS Turkey has appointed Gamze Sandurac Baykal to Chief Legal Officer in Istanbul.

Dentons and its Turkish affiliate Balcioglu Selcuk Ardiyok Keki have advised Papara on its acquisition of Rebellion from Beka Finance. Spain's Araoz & Rueda reportedly advised Beka Finance.

The Regulation Amending the Electricity Market Capacity Mechanism Regulation and the Regulation Amending the Regulation on Renewable Energy Source Guarantee Certificate in Electricity Market published in the Official Gazette on 21 May 2021, introduced significant changes to the capacity mechanism and renewable energy resource guarantee certificate (“YEK-G“) applications.

Paksoy, working with the UK offices of Bird & Bird, has advised the EBRD on a EUR 125 million loan for the Ankara Metropolitan Municipality to finance the Ankara Natoyolu-Dikimevi metro line.

The Aksan Law Firm has advised Simularge Global and its founders on its investment round with a sub-fund of Turkiye Kalkinma Fonu. The Ozbek Attorney Partnership advised the fund.

Turunc has advised Gelecek Etki Fonu on its USD 1.25 million investment in e-commerce solutions provider Rierino.

In Turkiye, digital banking has become a hot topic in relatively recent times after the introduction of the Regulation on the Operation Principles of Digital Banks and Service Model Banking (Regulation), published in the Official Gazette dated December 29, 2021, issued by the Banking Regulation and Supervision Agency (BRSA).

Moral, Kinikoglu, Pamukkale, Kokenek has advised the shareholders of Univera on the sale of the company to Param.

Paksoy, working with Gowling WLG, has advised UK-listed Volex on its acquisition of Turkish complex wire harness manufacturer Murat Ticaret Kablo for a total consideration of up to approximately EUR 178.1 million. Kinstellar and its Turkish affiliate Gen Temizer Ozer advised the Gora family on the sale of 100% of their shares in Murat Ticaret.