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Legal Regime to be Applied to Bitcoin and Other Virtual Currencies 23 November 2017
Virtual currency whose popularity has increased lately called Bitcoin, which was invented in 2008 by Satoshi Nakamoto, has no physical reciprocity and is not under control of any countries or central banks. Bitcoin which is fundamentally a software provides “person A” to transfer digital money to “person B” and uses Peer to Peer (“P2P”) network protocol which is used for sharing data between two or more computers without needing any central coordination. Therefore; due to the usage of P2P network protocol, no intermediary is needed while using Bitcoin.
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How to Be Sent the Electronic Notification? 24 August 2016
In accordance with the Article 7/a of Notification Law numbered 7201, a person who asks to be notified electronically to the electronic post address that convenient for notification, can be notified electronically. The usage of electronic notice is an obligation for joint-stock companies, limited companies and limited partnerships divided into shares.
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How to Obtain Electronic Notification Address? 23 August 2016
Definitions Electronic Notification Address: To prepare sufficient electronical environment for notification under the internet tax Office by the Department of Revenue. Electronical Notification System: The system that sending notification via informatics system to electronic notification address of the addressee and delivering notification with creating evidence under electronic system. In General Practice of electronic notification which means making notification to the electronic address of the recipients by using Electronic Notification System pursuant to Tax Procedure Law No.213, has been initiated since 1 January 2016.
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Use of Foreign Language in Contracts 22 June 2015
Within the existing business practices, it is common that the contracts and other documents executed in relation to a work or project that have Turkish parties and/or that is carried out in Turkey are issued in foreign language or it is deemed that English version prevails in the documents that are issued both in Turkish and English languages. However, such a choice may cause severe problems for the parties to such contracts and documents due to the “Law No. 805 on Obligation to Use Turkish in the Economic Enterprises” (“Law”) adopted on 10.04.1926 and the recent Supreme Court decisions regarding the same.
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