With the Presidential Decree published in the Official Gazette, the donation exemption limit for banks was removed. Thus, the legal basis for large donations to earthquake zones has been established.
For the Kahramanmaraş-centered earthquakes that occurred on February 6, 2023, “Turkey One HeartA charity campaign called ” was carried out. More than 115 billion TL was donated within the scope of this campaign. A significant portion of the donations were made. banks and large companies in Turkey carried out through
For example; Halkbank 7 billion TL, Ziraat bank and made significant donations of TL 20 billion. Before the Turkey One Heart campaign, there were also banks that donated. In this context; Akbank 650 million TL, Is Bank announced a net donation of TL 2.75 billion. Today, there has been a remarkable development on the subject. In today’s issue of the Official Gazette, there is an important information about the donations made by the banks. decree It was published.
Donation restriction in banks lifted due to state of emergency
With the Presidential Decree No. 124 published in the current issue of the Official Gazette, the donation restriction has been lifted. The following statements were used in the statement made in the decree:
“The donations and aids to be made to the Disaster and Emergency Management Presidency by banks and institutions subject to consolidated supervision during the state of emergency, in order to eliminate the conditions that adversely affect the general life after the earthquakes, the epicenter of which was in Kahramanmaraş on 6/2/2023, and to meet the needs of the disaster victims,” Within the scope of the limitations in Article 59 of the Law not included“
To the Presidential Decree No. 124 from here you can reach.
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So, what does the 59th article of the law numbered 5411 say?
Banking Law Article 59 of the Law No. 5411, also known as the law, contains a limitation on the donations that banks can make. According to this limitation, a bank is allowed to donate more than four thousandths of its equity. not allowed. You can read the entire article below:
Article 59 — The amount of donations that can be made by banks and institutions subject to consolidated supervision in a financial year, cannot exceed four thousandths of the bank’s equity. However, at least half of the donations and aids made must consist of donations and aids that can be considered as expenses or deductions in the determination of the corporate tax base. The procedures and principles regarding the implementation of this provision are determined by the Board.
To the Banking Law No. 5411 from here you can reach.