We have provided context on the Draft Law submitted to the parliament on 14 April 2020 containing the measures to reduce the impacts of the new coronavirus outbreak on economic and social life in our circular no.054 dated 14 April 2020.
The draft has been approved at the General Assembly as the “Law for Reducing the Impacts of the New Coronavirus (Covid-19) Pandemic on Economic and Social Life and the Law Regarding Amendments to Certain Laws” with the number 7244 and published in the Official Gazette dated 17 April 2020.
The Law contains new measures for business life especially the ban on dismissing workers for 3 months as well as deferrals on certain payments.
The relevant Law also contains regulation indicating that it will be decided to distribute only 25% of the net profit for the period of 2019 until 30 September 2020 in equity companies.
Our explanations provided above include general information on the issue. No responsibility can be claimed against EY and/or Kuzey YMM ve Bağımsız Denetim A.Ş. due to the implications arising from the context of this document or emerging with respect to its context.
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