GDPR Financial Balance Calculation

Personal Data Protection Law Financial Balance Sheet | Personal Data Protection Lawyer | Izmir Lawyer | Izmir Law Firm

How is the KVKK Financial Balance Sheet Calculated? | Article 16 of the Law No. 6698 on the Protection of Personal Data regulates the registration obligation of data controllers.

The Data Controllers Registry (VERBIS) is a registration system where data controllers are required to register and declare information related to their data processing activities. Data controllers are obligated to register with the Data Controllers Registry, which is maintained by the Presidency under the supervision of the Board. Therefore, the aim is to publicly disclose who the data controllers are and, in this way, to enable the right to protection of personal data to be exercised more effectively. This is in accordance with the relevant regulations and board decisions. annual financial balance totalData controllers with transactions exceeding 25 million Turkish Lira are subject to registration obligations.

How is the financial balance sheet calculated to be considered within the scope of the KVKK (Personal Data Protection Law) registration obligation?

In the Board's decisions regarding the start dates of exceptions and registration obligations, along with some other criteria, "“annual financial balance total”The "annual financial balance sheet" criterion has also been taken into consideration. To calculate the total, it is first necessary that a completed year exists, and that the financial balance information included in the financial statements attached to the annual income or corporate tax return submitted by the data controller to the authorized public institution within that completed year is taken into consideration.

When are data controllers who newly meet the Financial Balance Sheet Criteria required to register?

Regarding the subject Regulation on the Registry of Data Controllers The necessary regulations have been made in Article 8, titled "Commencement of Registration Obligation". Accordingly, data controllers who meet the relevant criteria are obliged to complete their data controller registration within thirty days from this date.

ARTICLE 8 – (1) Data controllers must fulfill their registration obligations with the Registry before commencing personal data processing. (2) Data controllers who are not under registration obligations but become subject to registration obligations later shall register with the Registry within thirty days of becoming subject to these obligations.

Criteria to be Considered When Calculating the Annual Number of Employees To our article You can access it from here.

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