The communiqué regarding "Determination of Minimum Contents of Companies' Annual Report” prepared by the Ministry of Customs and Trade was published in the Official Gazette on 28 August 2012 and became effective on the same date. This communiqué covers annual reports of joint stock companies (JSC) and limited liability companies (LLC) as well as the annual report of parent company in group of companies.
In accordance with the communiqué, an annual report shall be prepared within two months following the year-end of the related financial period. Accordingly, for the financial year ended 31 December 2012 annual reports shall be prepared until 28 February 2012.
The financial information as included in the 2012 annual report will be based on the financial statements prepared in accordance with the old Turkish Commercial Code. This is an exception for the 2012 annual report due to the transition period. In the following years, the basis of the financial information will be the financial statements prepared in accordance with the new Turkish Commercial Code.
General principles of the preparation of annual report and the minimum content of annual report have been set out in the aforementioned communique.
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