The law on the amendment of some laws on the purpose of improvement of the investment environment numbered 6728 and article 3/A have been added to the law on the support of research, development and design activities numbered 5746. R&D discount institution related to the R&D and innovation activities existing within the structure of income and corporate taxpayers’ corporations has been specified in article 3/A of the law numbered 5746.

Accordingly, 100% of research and development expenses related to searching new technology and information developed within the structure of income and corporate taxpayers’ corporations will be a subject for discount on the determination of profit in line with article 10 of the Corporate Tax Law numbered 5520 and article 89 of the law numbered 193; providing that these projects are regarded as R&D and innovation projects by the Ministry of Science, Industry and Technology.

Herewith, R&D discount will be applied to the applications done within the scope of article 3/A of the law numbered 5746 as of the date of 09.08.2016 as long as the law numbered 5746 and the related legislations are taken into consideration about the discounts related to research and development projects on searching new technology and information. On the other hand, R&D discount will be applied to the projects being subject to the applications done before 09.08.2016 within the scope of General Communiqué on Corporate Tax with serial number 1 according to the provisions (the provisions before the sub clause (a) of the first clause of article 10 of the Corporate Tax Law was amended with the Law numbered 6728).

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.

What is the Account Statement?
Article 10: A credit card account statement shall be issued in writing and sent in printed form or in electronic medium or by other effective and efficient means of communication upon demand of the card holder, within the framework of the procedures and principles to be determined by the Board.

Obligations Relating To Use of Cards
Article 15: Liability arising out of use of cards passes to the card holder as soon as the agreement is signed and the card passes to his possession or the card number with no physical existence is learned by him.
Signature box of the card must be signed by the card holder. If demanded by the merchant, the card holder is obliged to submit and show an identity document at the time of use of his card.
The card holder cannot be held liable for the damages and losses arising out of unlawful use of card in purchases of goods and services through various means of communication or through a purchase order form without an expenditure document pursuant to Article 20 of this Law.

Information and Safety of System
Article 18: Merchants are obliged to put and place the signs of acceptance of bank card and credit card at the entrance of their workplace and at other sites easily visible by the card holders, and to remove all such signs if and when their merchant agreement is terminated for whatever reason. Merchants are obliged to warn card holders if and when card transactions cannot be effected for a technical reason for a temporary period.
Merchants are liable to ensure safe operation of the systems to be established by them for enabling transactions through various means of communication or through a purchase order form without any expenditure document pursuant to Article 20 hereof.

What is the Transactions Not Requiring a Signature?
Article 20: Where it is not possible to issue expenditure or crediting documents due to nature of a transaction, the card may also be used by notification of the card number by the card holder via various means of communication or by using a code number, a cipher or another identification method usable as a substitute of signature.

What are the Conditions of Agreement?
Article 24: Relations between card issuing organizations and card holders will be governed by a written agreement to be printed with minimum twelve type size and in dark black letters in accordance with this Law and other applicable laws and regulations. A copy of this agreement will be delivered to the card holder and if any, to his guarantor. Card issuing organizations are obliged to give detailed information to the card holder about the use of card and the provisions of the agreement.
Form and minimum contents of agreements to be signed by the card issuing organizations with the card holders will be determined by the Board.
Minimum amount specified in the agreement cannot be less than twenty percent of the debt of the period. If the minimum payment amount stated on the account statement is not paid on or before the last payment date, the card holder cannot be held liable to pay any interest over the unpaid amount of debt, other than the delay interest specified clearly in the agreement.
For the transactions executed by the card holder, no payment may be requested in any form or under any name whatsoever such as interest, commission or expense, unless clearly incorporated and specified in the agreement, and no money may be set off from the card holder’s account in relation therewith. The agreement may not contain any clause which prejudices to the rights and interests of the card holder and provides unilateral, unfair and unjust benefits to the card issuing organization.
It will be stated in the agreement that the guarantor cannot be deemed to have fallen in default unless and until the unpaid debts of the card holder are duly notified to the guarantor. With regard to the increase of the limit of use of card or the amendments proposed in the agreement clauses resulting in an increase in the guarantor’s liability, the liability of the guarantor arising out of such additional or amended clauses may start only if and after a written consent of the guarantor is taken in relation therewith. The security on the use of credit cards is governed by and subject to the provisions of the Code of Obligations pertaining to simple and ordinary security and surety. The guarantor may not be demanded to pay the guaranteed debts unless and until all remedies are used for collection of the debts from the principal debtor.

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.