22
Tue, Sep
42 New Articles

The Buzz in Turkey: Interview with Ersin Nazali of Nazali Tax & Legal

The Buzz in Turkey: Interview with Ersin Nazali of Nazali Tax & Legal

Turkey
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

“The Turkish Government acted well and used the experience of other countries to fight the battle with COVID-19,” says Ersin Nazali, Managing Partner of Nazali Tax & Legal in Istanbul. “The situation was well prepared-for, which ultimately led to a lower number of infected people. Soon, we expect to get back to normal life.”

Indeed, Nazali reports that most industries are already getting back on track, and things are slowly but steadily getting back to normal. “The automotive sector was the first to re-open,” he says, “and the beginning of June is the expected date for everything else to start. I think the time is right to kick things off again, because people are soon going to need to start earning capital again.”

Among the measures enacted in order to help the situation, Nazali points in particular to the freezing of the judicial process, the option of delaying paying taxes, and financial support to certain businesses in order to stimulate work and ease the normalization process. “Multiple monetary benefits as well as tax returns and loans granted to the county’s SME’s are a good way to fight the inevitable crisis,” he says. “I can say that at the end of the day, the Government did as much as they could.”

This isn’t the only crisis Turkey had to overcome in recent years, of course. Still, Nazali describes it as “different from the others we had,” and he says that “therefore we needed a different sort of response.” According to him, “some employers were badly affected of course, which is an expected situation, but it seems like those businesses will be overtaken by the Government.” In addition, he says, “investors were less present – somewhere around half the usual number. Even though companies tried their hardest to stay afloat, they had to cut some of their activities, and as a result, they asked for less consultancy. Therefore, some law firms in Turkey had to close their offices, start home-working programs, and even lay off some employees.”

Ultimately, Nazali reports that he remains confident and optimistic about the future state of affairs in Turkey, insisting that “if the conditions don’t get worse suddenly, the economy will eventually get better.” He smiles. “As I mentioned before, crises in Turkey have happened recently, and those kinds of shocks are relatively normal.” He also believes that “the crisis is also a good opportunity,” noting that “the way it affected the supply chains of many companies makes them rethink their business models, and change the way they operate. For example, people were able to realize that China is not only a great option for supply, so I expect more of it to come from Europe or other places in the future.” As a result, he says, “this might, in the long-term, result in a better situation than ever before.”

Nazali Tax & Legal at a Glance

NAZALI offers a broad range of services in the fields of Tax, Audit, Corporate and Commercial Law, Mergers & Acquisitions, Corporate Finance, Banking, Finance and Capital Markets, Protective Legal Services and Dispute Resolution, Personal Data Protection and Privacy, Social Security and Labor Law, Occupational Health and Safety, Competition Law, Intellectual Property Law and R&D, Compliance and White-Collar Crimes, Administrative Law, Real Estate Law, Customs and Foreign Trade, Accounting and Payroll, Financial Incentives and Advisory Services and Public Administration and Compliance through its partners, associates and consultants of different seniorities who have both public and private sector experience.

What sets NAZALI apart from others is that NAZALI offers a truly comprehensive service to its clients with experts from different disciplines working collaboratively as a team under one roof enabling us to evaluate all dimensions of legal matters together with financial and technical matters.

The services that NAZALI provides to its clients include the most appropriate solution with the support of technical departments specialized in their fields. In this context, NAZALI associates are supported by NAZALI technical team and work alongside the experts in the fields of finance, social security and customs matters. NAZALI has set out with the aim of providing the most efficient and comprehensive solution for its clients by adapting to the developing conditions and happily gained the trust of its clients by never compromising the quality of service.

As conditions continuously evolve, NAZALI always aims to further itself remaining true to its motto “GROW WITH KNOWLEDGE” and has set out with the aim of providing the most efficient and comprehensive solution for its clients by adapting to the developing conditions and happily gained the trust of its clients by never compromising the quality of service.

Firm's website: http://www.nazali.com