Özet:

With the amendments made to Turkish Commercial Code (TCC), although the provisions for dividend distribution were also revised, the basic principles of dividend distribution had not been changed and they remained as same. The revisions to the previous legislation were made to change the referrals that cause confusions with the clearer expressions. Moreover, after the enforcement of the new TCC together with the change in the accounting principles in line with the Turkish Financial Reporting Standards (TFRS) starting from 01.01.2013, the profit amounts that will be used during dividend distribution calculations will change significantly. Since the lower of the profit that is calculated in line with the rules of CMB and the profit calculated as per the rules of TCC have to be taken into consideration for the calculation of the distributable dividend amounts, the change in the TCC figures will also affect the distributable dividend of the companies that are subject to CMB rules. Comprehensive income, the positive or negative effects of the adjustments made during the first implementation of TFRS on the distributable dividend amounts, the effects of the TFRS transition period on the legal reserve calculations are the major points that should primarily be taken into considerations.

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