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The Turkish Commercial Code: A New Era in Business

Do you know the requirements?

The Turkish economy has prepared for a globalized future with the adoption 
of the new Turkish Commercial Code (the “TCC”). The TCC details the formation 
of a forward-looking business environment based on corporate governance principles, 
transparency, integrity, and international standards.

The TCC requires companies to make fundamental changes in IFRS reporting, 
independent auditing, transparent management, and specifically, 
in corporate governance.

The TCC is a set of requirements shaped by advanced technology transparency, 
and corporate governance, which form the basis of today’s applicable law. 
The TCC advances requirements to bring commercial and industrial relationships 
and service industries from finance, transportation, agriculture and the insurance 
sectors up-to-date. The new law brings contemporary perspectives to Turkish 
commerce within two timeframes: short term (2-3 years) and medium term (4-5 years).

Key Contact

  • Ali Çiçekli
    Turkish Commercial Code Services Leader, Partner
    Tel: 0 (212) 366 60 57
    acicekli@deloitte.com

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