Business environment in Turkey-CPA Evren ÖZMEN

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Turkey at a Glance

O Z M C O N S U L T A N C Y . C O M

LOW TAXES & INCENTIVES O Z M C O N S U L T A N C Y

Corporate income Tax Corporate Income Tax reduced from 33 percent to 20 percent (22 percent for 2018, 2019 and 2020)

Tax Benefits Tax benefits and incentives in Technology Development Zones, Industrial Zones and Free Zones, including total or partial exemption from Corporate Income Tax, a grant on employer’s social

Turkey’s economy has performed remarkably well with its steady growth over the past 14 years. A sound macroeconomic strategy, prudent fiscal policies, and major structural reforms have all contributed to the integration of Turkey’s economy into the globalized world while also transforming the country into one of the major recipients of FDI in its region.

O Z M C O N S U L T A N C Y

LOW TAXES & INCENTIVES O Z M C O N S U L T A N C Y

Research and Development R&D and Innovation Support Law

Incentives Incentives for strategic investments, large-scale investments and regional investments

Reforms have increased the role of the private sector in Turkey’s economy, enhanced the efficiency and resiliency of the financial sector, and placed public finance on a more solid foundation. These reforms strengthened the macroeconomic fundamentals of the country, allowing the economy to grow at an annual average real GDP growth rate of 5.6 percent from 2003 to 2016.

O Z M C O N S U L T A N C Y

REGIONAL INCENTIVES O Z M C O N S U L T A N C Y

The scope of regional incentives Turkey is divided into 6 different regions.

Incentives are -Vat exception -Custom Duty exception -Corporate tax reduction -Social Security premium support -Investment location allocation -Corporate Tax exemption for production companies -Income Tax withholding on employee salaries exemption for companies exporting more than 85% -Procure goods and services from Turkey with VAT exemption

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