October
1999
Turkey
Update Memo
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Turkey Update Memo |
The following report outlines new developments in the past three months and the state of on-going developments.
Major changes in this period include enactment of a new law to identify software in intellectual property and to include it income tax exemption, change in the Constitution to allow the use of international referees in contractual disputes involving international partners, and the entry of major industrial, financial and media groups into the Internet market.
1. Present general legislation
A new law was enacted, changing an article of the Income Tax Law (Law number 193, date enacted 31.12.1960) to identify software as an intellectual property and to include it in income tax exemption.
Key measure |
Objective |
Date |
| Change in Income Tax Law number 193 | Include software in income tax exemption | 1999 |
2. Copyright and intellectual property rights
An article of the Income Tax Law (Law number 193) was changed to include software in income tax exemption.
3. Electronic protection, legal protection and security (encryption, electronic commerce)
A change was made in the Constitution to allow the use of international referees as a mechanism to resolve disputes in contracts involving international partners.
4. Media and telecommunication markets: privatisations, foreign investments, mergers and acquisitions, etc.
Major industrial, financial and media groups are entering into the Internet market as ISPs or otherwise. Among them are major banks including Garanti Bankasi and Is Bankasi, major industrial groups including Sabanci Group (a Fortune 500 group), Koc Group Group (a Fortune 500 group) and Dogus Group, major media groups including Star Group, Sabah Group and Dogan Group. An example of such an entry is the acquisition of Turk Nokta Net, the leading independent ISP, by the Sabanci Group. The infrastructure to be used in the next future is TTNet from Turk Telekom.
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