modification – Muhasebe News https://www.muhasebenews.com Muhasebe News Thu, 16 Aug 2018 07:24:22 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.3 What Should Be The Quorum Number For Corporations’ Prime Contract Modifications? https://www.muhasebenews.com/en/what-should-be-the-quorum-number-for-corporations-prime-contract-modifications/ https://www.muhasebenews.com/en/what-should-be-the-quorum-number-for-corporations-prime-contract-modifications/#respond Fri, 17 Aug 2018 12:00:33 +0000 https://www.muhasebenews.com/?p=23120 WHAT SHOULD BE THE QUORUM NUMBER FOR CORPORATIONS’ PRIME CONTRACT MODIFICATIONS?
1- Unless expressly provided otherwise in a provision in the Turkish Commercial Code or the prime contract, decisions that change the prime contract are made in the general meeting where at least half of the company capital is represented and with the majority of the present members’ votes. Unless the foreseen quorum number is obtained, a second meeting can be made in 1 moth at most. For the second meeting the quorum is that at least 1/3 of the company capital is represented in the meeting. The provisions of prime contract that nullifie the foreseen quorums in this paragraph or foresees relative majority are deemed null and invalid.
2- The prime contract modification decisions below are made with the consensus of shareholders of the capital as a whole or their representatives:
2.1- Decisions that impose liability and secondary liability to close the balance sheet losses.
2.2- Decisions about the company moving abroad.

3- Decisions for prime contract modifications below, are made with the votes of shareholders of at least %75 of the capital or their representatives;
3.1- Company’s field of operation is completely changed.
3.2- Privileged share is created.
3.3- Limitation of the transfer of shares that are in the name of the holder.

4- In case the foreseen quorums in the second and third articles can not be achieved in the first meeting the same quorums are seeked in the following meetings.
5- In companies where the certificates of shares are being traded at the stock exchange, for a decision to be made about the subjects below, in the general meetings, unless there’s a provision against the prime contract, The quorum in the article 418 of Turkish Commercial Law applies;
5.1- Prime contact changes regarding the increase of the capital and registered capital’s upper limit.
5.2- Decisions about merging, dividing and type changes.

6- The shareolders who have shares to their names, and who voted no for the complete change of operation field or creating privileged share, are not bound to the limitations regarding the transformation of the shares for 6 months beginning from the publishing of the decision in the Trade Registry Gazette.

Source: Turkish Commercial 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.

]]> https://www.muhasebenews.com/en/what-should-be-the-quorum-number-for-corporations-prime-contract-modifications/feed/ 0 According to Corporate Tax Law, will there be deductions for the payments related to the computers bought from companies residing abroad? https://www.muhasebenews.com/en/according-to-corporate-tax-law-will-there-be-deductions-for-the-payments-related-to-the-computers-bought-from-companies-residing-abroad/ https://www.muhasebenews.com/en/according-to-corporate-tax-law-will-there-be-deductions-for-the-payments-related-to-the-computers-bought-from-companies-residing-abroad/#respond Thu, 16 Aug 2018 17:00:32 +0000 https://www.muhasebenews.com/?p=14280 The conditions about the deductions for the payments related to the computers bought from companies residing abroad in line with article 30 of the Corporate Tax Law Numbered 5520;

1- If the computer programs bought from companies residing abroad are sold to the eventual customers or used in an institution without doing modifications on them and/or multiplying, the income will be regarded as a commercial income and the tax cut will not be applied to that kind of payments.

2- If the rights of reproduction, modification, distribution, display of a computer program are reserved within the scope of Copyright, the purchaser will obtain an intangible right. Furthermore, there will be a tax deduction in the ratio of 20% from the royalty payments made to the company residing abroad, in line with the Cabinet Decision numbered 2009/14593.

3- If the company residing abroad prepares a special computer program for an institution, the profit made by the company residing abroad will be regarded as self-employed income and there will be tax deduction in the ratio of 20% in line with the Cabinet Decision numbered 2009/14593.

4- If there is avoidance of double taxation treaty between the country in where the company reside and our country and there is determined a lower ratio as a tax (that ratio is specified as 10% in the treaties), that ratio will be taken into consideration.  

Source: Corporate Tax 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.

]]> https://www.muhasebenews.com/en/according-to-corporate-tax-law-will-there-be-deductions-for-the-payments-related-to-the-computers-bought-from-companies-residing-abroad/feed/ 0