Draft code to lift spouse approval for acquiring business credits

ISTANBUL - Hürriyet Daily News

A draft code containing new regulation aims to lift the spouse approval requirement for commercial credits, a move that has been long discussed in the business sector.

According to a draft code approved by the Planning and Budget Commission on March 13, the requirement for spouse approval for commercial credits and guarantees will be removed. The code states that spouse approval will no longer be required for the credits and guarantees of commercial enterprises’ owners, partners or managers, which are used in the name of enterprises. In addition, artisans’ and artists’ credits and guarantees, which are given by agriculture credit cooperatives for their professional activities, will no longer require spouse approval.

On the other hand, individual credits such as consumer, house and vehicle credits, and individual guarantees will continue to require the approval of a spouse. 

Smuggled fuel to be sold

Meanwhile, the new draft code plans to allow the selling of captured smuggled fuel, which will be registered as income in the budget. It suggests allocating this smuggled fuel to public institutions without charge or sale of it. 

Another regulation contained in the draft code will allow Turkish Airlines (THY) to be exempted from customs tax when purchasing aircrafts.