Companies Worried About Phase 3 of Social Media Sanctions

Companies Worried About Phase 3 of Social Media Sanctions Companies are worried about the phase 3 of social media sanctions. In January, which is known as the third stage of the sanctions ranking, it was stated that the advertising ban against social media companies was expected to be on the agenda. Within the scope of the social media regulations, companies have been fined 40 million TL each for not fulfilling the requirement to have a representative in Turkey, Youtube and Facebook were also among those companies. For non-compliance with these penalties, the third stage of the sanctions will be passed. Accordingly, Turkey is preparing to bring the advertising ban for these companies which is on the agenda. However, this worries online platforms and companies that spend hundreds of millions of dollars on social media ads. According to the news in Bloomberg HT, sector representatives visited Deputy Minister of Trade Rıza Tuna Turagay last week and shared their opinions on the issue. Hakan Çevikoğlu, Vice President of Electronic Commerce Operators Association, who also participated in the visit, said the following regarding the issue: “Digital advertising and social media ads are indispensable for online sales. If we want to sell products in a country, we use social media channels there as well. Otherwise, people cannot recognize Turkish products " Çevikoğlu also said, "Although we will lose blood, if these companies do not comply with the obligation to have a representative and if necessary, penalties will be imposed, but steps can be taken to ensure that our companies are not harmed in the process." Çevikoğlu stated that they are considering solutions like, ‘not allowing Turkish companies to advertise in Turkey, but allowing them to release overseas ads.’