Invest in Turkey, Turkey has signed an agreement with 80 countries to prevent double taxation. In this regard, foreigners, who will invest in our country, gain tax-related opportunities in import and export transactions, opportunities and advantages that are provided to foreign investors in return for investing in our country are not limited to these. Some of government supports and incentives that are renewed widened each passing day are as indicated below. Besides, being an attractive country that interests foreign investors as its geographical and strategical location and being a liveable country, Turkey provides great convenience to foreign investors regarding government support.
Here are the opportunities and advantages that are provided to foreign investors:
The Government Incentive That is offered to Foreign Investors in Turkey
Turkey offers a great number of incentives to increase the number of foreign investors within its borders. Some of them are…
In purchases of machine, appliance and equipment that are going to be imported domestically or abroad within the scope of the investment incentive certificate, VAT is not paid.
Customs Duty Exemption
For purchases of machine, appliance and equipment that are going to be purchased from abroad within the scope of the investment incentive certificate, foreign investors will not pay customs duty.
Income and corporate tax are acquired by calculating the rates of the discount until the total reduced tax amount reaches the investment contribution rate. Investment contribution rate states the rate of the total fixed investment amount included in the tax reduction.
Employer’s Share Support of Social Security Premium
Employer’s share of social security premium calculated over the legal minimum wage amount in accordance with the employment provided by foreign capital is covered by the government.
Employee’s Share Support of Social Security Premium
In foreign capital employments, employer’s share of social security premium calculated over the legal minimum wage amount in Region 6 and investments provided within the scope of the investment incentive certificate is covered by the government. There is no upper limit in social security premium implemented accordingly and it is valid for 10 years.
Reduction Support in Income Tax Withholding
Income tax determined for employment provided within the scope of foreign capital investment and additional employment is not subject to withholding. There is no upper limit for the reduction of income tax withholding and this support is only valid for Region 6 investments for 10 years.
Rate of Interest Support
The financing support provided in at least 1-term investment credits is called the rate of interest support and the government support is provided on behalf of paying the first 5-year instalment of the specific part of the profit/interest rate to be paid regarding the credit in 70% credit usages in proportion to the fixed investment amount registered in the investment incentive certificate.
Providing a Land
The land is provided based on finding land as part of the regulations of the Ministry of Finance within the scope of foreign capital investments to be made.
VAT Refund Support
If the minimum investment amount is 500 million TL, VAT collected during building-construction expenses within the scope of strategical investments is refunded.
R&D Support, which is valid until 2024, provides special incentives to R&D and design investment projects in Turkey if there is an employment of at least 15 personnel in R&D centres and 10 personnel in design centres. In this context, all R&D expenses are deducted from the tax assessment. Stamp duty exemption is carried out in the issued documents. Stamp duty exemption regarding imported products within R&D projects is in question.
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