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La posició estratègica de Turquia és molt atractiva, al bell mig d'economies emergents, i la seva economia està clarament a l'alça gràcies a la seva productivitat, un mercat potencial de consumidors que no para de créixer i als canvis legislatius del 2003 que van afavorir l'activitat productiva i la inversió estrangera.
New Investment Incentives Scheme In Turkey Presentation pro tesvik
The document outlines Turkey's new investment incentives program, which includes four main incentive schemes - general, regional, large scale, and strategic. It details the various support measures available under each scheme such as tax reductions, customs duty exemptions, VAT exemptions, social security premium support, interest support, and land allocation. Support measures vary based on the region and type of investment project. The regional investment incentive scheme in particular aims to reduce inter-regional imbalances by providing different levels of support for each of Turkey's six regions.
This document summarizes investment incentives available in Turkey. It outlines various tax exemptions, reductions, and refunds available for value-added tax, customs duties, income/corporate taxes, social security premiums, and interest rates. Incentives vary based on the type and location of investment. Priority is given to strategic investments over $25 million that rely on imports or large-scale investments in certain sectors. The document provides regional maps and lists incentives for priority, large-scale, strategic, and general investments made in Turkey.
This Memorandum summarizes an overview of economy for the year 2015-2016 and the important changes proposed through the Finance Bill 2016. It contains comments on the budget and on the Finance Bill 2016, including highlights of the changes brought through the Income Tax Ordinance, 2001, the Sales Tax Act, 1990, the Federal Excise Act, 2005, the Customs Act, 1969, the Islamabad Capital Territory (Tax on Services) Ordinance, 2001 and Fiscal Responsibility and Debt Limitation Act, 2005. The amendments proposed through the Income Tax Ordinance, 2001 and through other laws are intended to be effective once the parliament has accorded its assent and thereafter, would be effective from July 01, 2016 i.e. tax year 2017 unless otherwise indicated.
This Memorandum is intended to provide general guidance to the readers on the important changes brought through the Bill and should not be considered as a substitute for specific advice relating to a particular enactment. For considering the precise effect of a proposed change, reference should be made to the appropriate wordings in the relevant statutes and the notifications issued where relevant.
Key Takeaways:
- Demography and Business Environment of Senegal
- Procedures relating to Setting up Business
- Regulations and Reforms
- Business Structures and Tax Incentives
- Relevant Numbers
This document provides a summary of key changes made in Korea's 2022 Foreign Investment Guide. It highlights strengthened tax support for research and development (R&D) and facility investment in national strategic technologies. It also notes increased tax credits for hiring young or disabled workers outside major cities and the establishment of a new high-tech investment zone scheme. Additional foreign investment zones were designated and conditions for business incubation were eased to attract more foreign investment and talent.
The document summarizes Uganda's national budget for 2015-2016, highlighting key challenges such as a large informal sector, trade imbalances, and infrastructure issues hampering competitiveness. It outlines the budget's focus on infrastructure development and service delivery to address these challenges. Performance indicators for 2014-2015 like GDP growth of 5.3% are provided. The budget funds expenditures through domestic revenues and external financing, with interventions planned for priority sectors like agriculture, industry, and infrastructure development.
This document provides an overview of taxation in Indonesia, including various taxes that companies and individuals need to comply with. It discusses corporate income tax, individual income tax, VAT, luxury goods sales tax, customs and excise, and tax losses. Corporate income tax is generally 25% but is lower for certain public companies and small businesses. Individual income tax uses a progressive rate schedule up to 30%. VAT is charged at 10% for most goods and services. Luxury goods are also subject to an additional sales tax from 10-125%. [/SUMMARY]
New Investment Incentives Scheme In Turkey Presentation pro tesvik
The document outlines Turkey's new investment incentives program, which includes four main incentive schemes - general, regional, large scale, and strategic. It details the various support measures available under each scheme such as tax reductions, customs duty exemptions, VAT exemptions, social security premium support, interest support, and land allocation. Support measures vary based on the region and type of investment project. The regional investment incentive scheme in particular aims to reduce inter-regional imbalances by providing different levels of support for each of Turkey's six regions.
This document summarizes investment incentives available in Turkey. It outlines various tax exemptions, reductions, and refunds available for value-added tax, customs duties, income/corporate taxes, social security premiums, and interest rates. Incentives vary based on the type and location of investment. Priority is given to strategic investments over $25 million that rely on imports or large-scale investments in certain sectors. The document provides regional maps and lists incentives for priority, large-scale, strategic, and general investments made in Turkey.
This Memorandum summarizes an overview of economy for the year 2015-2016 and the important changes proposed through the Finance Bill 2016. It contains comments on the budget and on the Finance Bill 2016, including highlights of the changes brought through the Income Tax Ordinance, 2001, the Sales Tax Act, 1990, the Federal Excise Act, 2005, the Customs Act, 1969, the Islamabad Capital Territory (Tax on Services) Ordinance, 2001 and Fiscal Responsibility and Debt Limitation Act, 2005. The amendments proposed through the Income Tax Ordinance, 2001 and through other laws are intended to be effective once the parliament has accorded its assent and thereafter, would be effective from July 01, 2016 i.e. tax year 2017 unless otherwise indicated.
This Memorandum is intended to provide general guidance to the readers on the important changes brought through the Bill and should not be considered as a substitute for specific advice relating to a particular enactment. For considering the precise effect of a proposed change, reference should be made to the appropriate wordings in the relevant statutes and the notifications issued where relevant.
Key Takeaways:
- Demography and Business Environment of Senegal
- Procedures relating to Setting up Business
- Regulations and Reforms
- Business Structures and Tax Incentives
- Relevant Numbers
This document provides a summary of key changes made in Korea's 2022 Foreign Investment Guide. It highlights strengthened tax support for research and development (R&D) and facility investment in national strategic technologies. It also notes increased tax credits for hiring young or disabled workers outside major cities and the establishment of a new high-tech investment zone scheme. Additional foreign investment zones were designated and conditions for business incubation were eased to attract more foreign investment and talent.
The document summarizes Uganda's national budget for 2015-2016, highlighting key challenges such as a large informal sector, trade imbalances, and infrastructure issues hampering competitiveness. It outlines the budget's focus on infrastructure development and service delivery to address these challenges. Performance indicators for 2014-2015 like GDP growth of 5.3% are provided. The budget funds expenditures through domestic revenues and external financing, with interventions planned for priority sectors like agriculture, industry, and infrastructure development.
This document provides an overview of taxation in Indonesia, including various taxes that companies and individuals need to comply with. It discusses corporate income tax, individual income tax, VAT, luxury goods sales tax, customs and excise, and tax losses. Corporate income tax is generally 25% but is lower for certain public companies and small businesses. Individual income tax uses a progressive rate schedule up to 30%. VAT is charged at 10% for most goods and services. Luxury goods are also subject to an additional sales tax from 10-125%. [/SUMMARY]
This document provides an overview of Indonesia's tax system, including various taxes that companies, investors, and individuals need to comply with such as corporate income tax, individual income tax, withholding taxes, VAT, customs duties, and real estate taxes. It discusses tax incentives available, tax rates and deductions for individual and corporate income taxes, withholding tax rates, branch profit tax rules, and how double taxation agreements provide relief.
Key Takeaways:
- Algeria in numbers
- Business Environment
- Procedure for Setting up Business
- Obtaining Business and Expat Permits
- Impact of COVID and Reforms
Thanks For Watching, Please Subscribe To Our Channel: https://www.youtube.com/channel/UCVMYEbHo5lmvUZzTNbsqrig?sub_confirmation=1
- Nepal aims to attract foreign investment through a liberal foreign investment policy. The policy outlines various forms of permitted foreign investment, facilities and tax concessions provided to foreign investors, and procedures for repatriating profits and capital. Key sectors highlighted for their investment potential include hydropower, tourism, and agriculture. Hydropower is a major focus due to Nepal's large hydro potential but current underdevelopment. Tourism is growing significantly due to Nepal's natural and cultural attractions. Agriculture relies on traditional methods and could benefit from increased productivity.
The document discusses the potential introduction of taxation in the UAE. Due to declining oil prices and increasing fiscal pressures, the UAE government is considering implementing taxes like VAT and CIT to diversify government revenue sources. The IMF recommends a low, broad-based VAT of around 5% and lowering the corporate tax rate from 20% to 10% while expanding its scope. The government is also exploring other options like taxes on vehicles, fees, and reducing energy and water subsidies. Officials say taxes will likely be implemented at low rates to minimize economic impacts, but agreements are still being reached across GCC countries.
The budget document summarizes the key features of Bangladesh's national budget for fiscal year 2017-2018. The total budget proposed is TK 400266 crore with a revenue target of TK 287990 crore. The annual development program allocation is TK 153331 crore. The overall budget deficit is estimated at TK 112276 crore. Expenditures are primarily focused on sectors like education, public administration, and transportation. The personal income tax rates range from 0-30% while the corporate tax rate is 25-45%. The VAT rate remains uniform at 15%.
To help you to comply with these rules, Cekindo provides complete accounting and tax reporting services, including individual and corporate tax in Indonesia.
The document summarizes key fiscal policies in India since 2005, including objectives of fiscal policy like maintaining full employment and price stability. It outlines tools of fiscal policy like revenue, expenditure, debt, and deficit. It discusses the Fiscal Responsibility and Budget Management Act of 2003 and highlights of the annual budget and fiscal policies from 2005 to 2014, including changes to income tax rates and slabs, plan and non-plan expenditures, and other economic initiatives.
Key Takeaways:
- Business environment and business structures in Zimbabwe
- Tax aspects and investment incentives
- Balance of Payments
- Impact of COVID on Zimbabwean economy
This document summarizes the history and reforms of Cambodia's investment law. It discusses how the original 1994 investment law was amended in 2003 and is currently being amended again. The key points are:
- The 1994 law established rules to promote investment after Cambodia's civil war. It ensured equitable treatment, prohibited nationalization, and offered incentives.
- The 2003 amendment provided clearer guidelines and procedures to rationalize incentives and adapt to economic changes. It streamlined the registration process and defined incentives more clearly.
- The current amendment aims to attract higher value industries, diversify growth sources, and align with regional economic integration. It will focus on targeted sectors and SME incentives.
A snapshot of cambodia trade and investment climate final by chea socheatSocheat Chea
This document provides a summary of Cambodia's trade and investment climate presented by Mr. Chea Socheat from Cambodia's Ministry of Commerce. It outlines key economic indicators of Cambodia's growing economy including a 7% GDP growth rate. It highlights Cambodia's selling points for investment such as no import tariffs, access to ASEAN and other markets, and competitive labor costs. It describes Cambodia's investment promotion infrastructure including investment laws, economic zones, and a one stop service center. It also discusses trade facilitation initiatives and opportunities for investment in sectors such as infrastructure, tourism, and manufacturing.
Presentation at Saarc Law- Saroj on FDI 9-3-2016Saroj Ghimire
The document summarizes Nepal's foreign investment policies and sectors. It discusses key statistics on foreign direct investment in Nepal by sector and country from 2012-2015. It outlines the modes of foreign investment allowed, minimum investment amounts, and sectors open and restricted to foreign investment. The document also discusses legislative commitments to foreign investors regarding treatment, taxation, dispute resolution and administrative reforms. It concludes by noting Nepal's international obligations and commitment to reforms to increase foreign direct investment inflows.
Albania is a growing country that offers many opportunities for investment and economic development. It has a stable political and economic environment, as well as a liberalized market with low taxes and incentives. Some key advantages include its strategic position in Europe, a competitive workforce with low wages, and ongoing infrastructure development. Recent reforms have further improved the business climate and economic freedom. The country represents an attractive option for sectors like production, energy, agriculture, and tourism.
The document provides information on recent tax law developments in Indonesia, including:
1) The government is proposing an omnibus law to reform the tax system to boost investment and economic growth. Key reforms include gradually lowering the corporate tax rate and eliminating dividend tax.
2) Current rules impose a maximum debt-to-equity ratio of 4:1 for tax purposes. Interest expenses above this ratio are not tax deductible.
3) KIB Consulting, a tax advisory firm, summarizes these tax law changes and notes its involvement in discussions with government on investment issues and the omnibus law.
One of the key issues highlighted on our end-year KIB Consulting e-news edition is to help our clients in identifying and understanding today’s business landscape and its ongoing risks. The headline was excerpted from the World Economic Forum insight report of Regional Risks for Doing Business 2018.
Dr.C.Muthuraja's Presentation on UNION BUDGET 2016-17: EMPLOYMENT & ENTREPREN...Chinnasamy Muthuraja
The document summarizes key aspects of the Union Budget 2016-17 presented by the government of India, including its focus on employment generation and entrepreneurship. Some of the main points covered include allocating more funds for skill development initiatives, reducing corporate tax rates for small businesses, providing tax incentives for new businesses and startups, and extending presumptive taxation schemes to boost employment and economic growth. The budget aims to balance priorities around agriculture, education, healthcare, and infrastructure development to transform India's economy and improve people's lives.
NIGERIA REAL ESTATE MARKET OUTLOOK 2017 (01)Ayodele Thomas
The Nigerian real estate market struggled from 2015-2016 due to economic and political uncertainties, with rental rates declining and new construction projects stalling. However, the 2017 outlook is positive if the economy rebounds as expected. New developments in office and retail space are projected to increase occupancy and rental rates as demand rises with an improving economy and population. The 2017 national budget aims to boost infrastructure spending and economic growth, which could pull the real estate sector out of its downturn later in the year through higher property prices, construction activity and consumer demand.
The document discusses several topics related to taxes and the economy:
1) COVID-19 is threatening the global economy through impacts on supply chains, tourism, and other industries as China's role has grown significantly.
2) Retailers in Jakarta affected by floods are seeking tax reductions and compensation from the local administration for losses.
3) The omnibus law aims to boost the Indonesian economy by cutting corporate taxes, among other reforms, requiring businesses to implement tax planning strategies.
- The document discusses Indonesia's economic and fiscal updates under President Joko Widodo's 2019-2024 vision of improving connectivity and infrastructure. Key points include GDP growth slowing to a 2-year low of 5.05% in Q2 2019 due to weaker investment. Exports fell while imports declined faster, helping GDP. The US-China trade war has boosted Vietnam's economy but widened Indonesia's trade deficit. Solutions proposed include improving competitiveness, workforce skills, and commodity value-addition. The DGT outlines new tax regulations like tax holidays and super deductions to promote investment and employment.
Kenya provides opportunities for business growth across several sectors such as agriculture, mining, and tourism. Setting up a business involves registering the company with the Business Registration Service and obtaining necessary licenses. Kenya offers a relatively business friendly tax system with corporate tax at 25% and various incentives. Obtaining proper visas and permits is important for foreign investors. Key sectors for investment include agriculture around popular towns like Thika and mining in areas like Garissa due to infrastructure projects. The COVID-19 pandemic impacted the economy but the government responded with various reforms to support businesses.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms for those who already suffer from conditions like anxiety and depression.
The document outlines 10 reasons to invest in Turkey according to a marketing consultancy company. It highlights Turkey's large, young population and workforce, centrally located position between Europe and Asia, developed infrastructure and logistics networks, competitive tax incentives, and growing domestic markets. Turkey is positioned as an attractive investment destination due to its strong economic growth rates, liberal investment environment, and access to both European and regional markets through its customs union with the EU.
Turkey offers several advantages for living and investing, including a high quality lifestyle with friendly people and nice weather, as well as a strong and growing economy. The economy has more than tripled in size since 2002 and Turkey serves as a link between Europe, Asia, the Middle East, and Africa with access to over 1.5 billion customers. Recent legal changes also allow foreign nationals from more countries to purchase property in Turkey.
This document provides an overview of Indonesia's tax system, including various taxes that companies, investors, and individuals need to comply with such as corporate income tax, individual income tax, withholding taxes, VAT, customs duties, and real estate taxes. It discusses tax incentives available, tax rates and deductions for individual and corporate income taxes, withholding tax rates, branch profit tax rules, and how double taxation agreements provide relief.
Key Takeaways:
- Algeria in numbers
- Business Environment
- Procedure for Setting up Business
- Obtaining Business and Expat Permits
- Impact of COVID and Reforms
Thanks For Watching, Please Subscribe To Our Channel: https://www.youtube.com/channel/UCVMYEbHo5lmvUZzTNbsqrig?sub_confirmation=1
- Nepal aims to attract foreign investment through a liberal foreign investment policy. The policy outlines various forms of permitted foreign investment, facilities and tax concessions provided to foreign investors, and procedures for repatriating profits and capital. Key sectors highlighted for their investment potential include hydropower, tourism, and agriculture. Hydropower is a major focus due to Nepal's large hydro potential but current underdevelopment. Tourism is growing significantly due to Nepal's natural and cultural attractions. Agriculture relies on traditional methods and could benefit from increased productivity.
The document discusses the potential introduction of taxation in the UAE. Due to declining oil prices and increasing fiscal pressures, the UAE government is considering implementing taxes like VAT and CIT to diversify government revenue sources. The IMF recommends a low, broad-based VAT of around 5% and lowering the corporate tax rate from 20% to 10% while expanding its scope. The government is also exploring other options like taxes on vehicles, fees, and reducing energy and water subsidies. Officials say taxes will likely be implemented at low rates to minimize economic impacts, but agreements are still being reached across GCC countries.
The budget document summarizes the key features of Bangladesh's national budget for fiscal year 2017-2018. The total budget proposed is TK 400266 crore with a revenue target of TK 287990 crore. The annual development program allocation is TK 153331 crore. The overall budget deficit is estimated at TK 112276 crore. Expenditures are primarily focused on sectors like education, public administration, and transportation. The personal income tax rates range from 0-30% while the corporate tax rate is 25-45%. The VAT rate remains uniform at 15%.
To help you to comply with these rules, Cekindo provides complete accounting and tax reporting services, including individual and corporate tax in Indonesia.
The document summarizes key fiscal policies in India since 2005, including objectives of fiscal policy like maintaining full employment and price stability. It outlines tools of fiscal policy like revenue, expenditure, debt, and deficit. It discusses the Fiscal Responsibility and Budget Management Act of 2003 and highlights of the annual budget and fiscal policies from 2005 to 2014, including changes to income tax rates and slabs, plan and non-plan expenditures, and other economic initiatives.
Key Takeaways:
- Business environment and business structures in Zimbabwe
- Tax aspects and investment incentives
- Balance of Payments
- Impact of COVID on Zimbabwean economy
This document summarizes the history and reforms of Cambodia's investment law. It discusses how the original 1994 investment law was amended in 2003 and is currently being amended again. The key points are:
- The 1994 law established rules to promote investment after Cambodia's civil war. It ensured equitable treatment, prohibited nationalization, and offered incentives.
- The 2003 amendment provided clearer guidelines and procedures to rationalize incentives and adapt to economic changes. It streamlined the registration process and defined incentives more clearly.
- The current amendment aims to attract higher value industries, diversify growth sources, and align with regional economic integration. It will focus on targeted sectors and SME incentives.
A snapshot of cambodia trade and investment climate final by chea socheatSocheat Chea
This document provides a summary of Cambodia's trade and investment climate presented by Mr. Chea Socheat from Cambodia's Ministry of Commerce. It outlines key economic indicators of Cambodia's growing economy including a 7% GDP growth rate. It highlights Cambodia's selling points for investment such as no import tariffs, access to ASEAN and other markets, and competitive labor costs. It describes Cambodia's investment promotion infrastructure including investment laws, economic zones, and a one stop service center. It also discusses trade facilitation initiatives and opportunities for investment in sectors such as infrastructure, tourism, and manufacturing.
Presentation at Saarc Law- Saroj on FDI 9-3-2016Saroj Ghimire
The document summarizes Nepal's foreign investment policies and sectors. It discusses key statistics on foreign direct investment in Nepal by sector and country from 2012-2015. It outlines the modes of foreign investment allowed, minimum investment amounts, and sectors open and restricted to foreign investment. The document also discusses legislative commitments to foreign investors regarding treatment, taxation, dispute resolution and administrative reforms. It concludes by noting Nepal's international obligations and commitment to reforms to increase foreign direct investment inflows.
Albania is a growing country that offers many opportunities for investment and economic development. It has a stable political and economic environment, as well as a liberalized market with low taxes and incentives. Some key advantages include its strategic position in Europe, a competitive workforce with low wages, and ongoing infrastructure development. Recent reforms have further improved the business climate and economic freedom. The country represents an attractive option for sectors like production, energy, agriculture, and tourism.
The document provides information on recent tax law developments in Indonesia, including:
1) The government is proposing an omnibus law to reform the tax system to boost investment and economic growth. Key reforms include gradually lowering the corporate tax rate and eliminating dividend tax.
2) Current rules impose a maximum debt-to-equity ratio of 4:1 for tax purposes. Interest expenses above this ratio are not tax deductible.
3) KIB Consulting, a tax advisory firm, summarizes these tax law changes and notes its involvement in discussions with government on investment issues and the omnibus law.
One of the key issues highlighted on our end-year KIB Consulting e-news edition is to help our clients in identifying and understanding today’s business landscape and its ongoing risks. The headline was excerpted from the World Economic Forum insight report of Regional Risks for Doing Business 2018.
Dr.C.Muthuraja's Presentation on UNION BUDGET 2016-17: EMPLOYMENT & ENTREPREN...Chinnasamy Muthuraja
The document summarizes key aspects of the Union Budget 2016-17 presented by the government of India, including its focus on employment generation and entrepreneurship. Some of the main points covered include allocating more funds for skill development initiatives, reducing corporate tax rates for small businesses, providing tax incentives for new businesses and startups, and extending presumptive taxation schemes to boost employment and economic growth. The budget aims to balance priorities around agriculture, education, healthcare, and infrastructure development to transform India's economy and improve people's lives.
NIGERIA REAL ESTATE MARKET OUTLOOK 2017 (01)Ayodele Thomas
The Nigerian real estate market struggled from 2015-2016 due to economic and political uncertainties, with rental rates declining and new construction projects stalling. However, the 2017 outlook is positive if the economy rebounds as expected. New developments in office and retail space are projected to increase occupancy and rental rates as demand rises with an improving economy and population. The 2017 national budget aims to boost infrastructure spending and economic growth, which could pull the real estate sector out of its downturn later in the year through higher property prices, construction activity and consumer demand.
The document discusses several topics related to taxes and the economy:
1) COVID-19 is threatening the global economy through impacts on supply chains, tourism, and other industries as China's role has grown significantly.
2) Retailers in Jakarta affected by floods are seeking tax reductions and compensation from the local administration for losses.
3) The omnibus law aims to boost the Indonesian economy by cutting corporate taxes, among other reforms, requiring businesses to implement tax planning strategies.
- The document discusses Indonesia's economic and fiscal updates under President Joko Widodo's 2019-2024 vision of improving connectivity and infrastructure. Key points include GDP growth slowing to a 2-year low of 5.05% in Q2 2019 due to weaker investment. Exports fell while imports declined faster, helping GDP. The US-China trade war has boosted Vietnam's economy but widened Indonesia's trade deficit. Solutions proposed include improving competitiveness, workforce skills, and commodity value-addition. The DGT outlines new tax regulations like tax holidays and super deductions to promote investment and employment.
Kenya provides opportunities for business growth across several sectors such as agriculture, mining, and tourism. Setting up a business involves registering the company with the Business Registration Service and obtaining necessary licenses. Kenya offers a relatively business friendly tax system with corporate tax at 25% and various incentives. Obtaining proper visas and permits is important for foreign investors. Key sectors for investment include agriculture around popular towns like Thika and mining in areas like Garissa due to infrastructure projects. The COVID-19 pandemic impacted the economy but the government responded with various reforms to support businesses.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms for those who already suffer from conditions like anxiety and depression.
The document outlines 10 reasons to invest in Turkey according to a marketing consultancy company. It highlights Turkey's large, young population and workforce, centrally located position between Europe and Asia, developed infrastructure and logistics networks, competitive tax incentives, and growing domestic markets. Turkey is positioned as an attractive investment destination due to its strong economic growth rates, liberal investment environment, and access to both European and regional markets through its customs union with the EU.
Turkey offers several advantages for living and investing, including a high quality lifestyle with friendly people and nice weather, as well as a strong and growing economy. The economy has more than tripled in size since 2002 and Turkey serves as a link between Europe, Asia, the Middle East, and Africa with access to over 1.5 billion customers. Recent legal changes also allow foreign nationals from more countries to purchase property in Turkey.
10 Reasons to Invest in Turkey
1-Succesful economy
2-Population
3-Qualified and competitve labor force
4-Liberal and reformist investment climate
5-Infrastructure
6-Centrally located
7-Energy corridor and terminal of Europe
8-Low taxes and incentives
9-Customs union with The Europe since 1996
10-Large domestic market
The document summarizes key information about investing in Turkey:
1. Turkey has a large, growing economy that was the 17th largest in the world in 2013 and is pursuing an ambitious plan to become one of the top 10 economies by 2050.
2. FDI inflows to Turkey have soared over the past decade, with over 135,000 companies established since 2004, and Turkey offers a productive, low-cost workforce close to large markets in Europe and the Middle East.
3. Structural reforms have improved Turkey's business environment and competitiveness substantially, with its ranking in the Global Competitiveness Index rising from 61st in 2009 to 44th in 2013.
Islamic finance has existed for over 1500 years but saw renewed growth starting in the 1960s. While not fully developed, it provides alternatives for devout Muslims who were previously locked out of many traditional financial vehicles. Islamic finance aims to comply with Sharia law, as determined by religious scholars. Some key differences from conventional finance include a prohibition on interest and a focus on asset-based transactions rather than currency-based loans. While similar financial outcomes can be achieved, Muslims see a distinction in the method used.
The document outlines an Islamic finance workshop held in Dakar, Senegal in November 2013. It discusses the origin and principles of Islamic finance, which are based on ethical values of preserving faith, life, intellect, wealth and posterity for all. Islamic finance prohibits interest (riba) and involves profit/loss sharing and mark-up for trade financing. The outline discusses the growth of the global Islamic finance industry, including segments like Islamic banking, sukuk bonds, funds and microfinance. It notes the industry has grown to over $1 trillion in assets, with the majority in banking and located in the Middle East and Southeast Asia, though Africa is an emerging market.
This document discusses derivatives in Islamic finance. It begins by defining derivatives and explaining their main uses, including hedging, speculation, and arbitrage. It then outlines common derivative types like forwards, futures, and options. The document notes that Islamic derivatives must be free of riba (usury), gharar (uncertainty), and maysir (gambling). It discusses how some contracts in Islamic law, like salam and istisna, can serve as the basis for sharia-compliant forward and futures contracts. However, deferring both price and asset delivery poses challenges in avoiding gharar. The salam contract is described as one permissible structure but it requires full prepayment and standardized terms.
‘Small Business Success in the Cloud,’ describes the impact of cloud technology as it is progressively adapted by more and more small businesses – moving from an initial focus on efficiency gains, to the emergence of new models of business, through broad-based saturation across business and society.
The report is the first in a new ‘Dispatches from the New Economy’ research series, a comprehensive research project exploring the ways economic, technology and social shifts will shape the future of small business success. The series builds on a ten year partnership between Emergent Research and Intuit tracking trends in small business.
Dispatches From The New Economy: The On-Demand Economy And The Future Of WorkIntuit Inc.
From delivery, transportation and household errands, to professional services and consulting, the on-demand economy is changing the way people consume goods and services. It is also changing the way people work. Intuit and Emergent Research forecast that the number of people working on-demand jobs will grow from 3.2 million Americans to 7.6 million by 2020. This is a once in a generation opportunity to empower the future of work and a new face of entrepreneurship.
Dispatches from the New Economy: The On-Demand Workforce provides a detailed analysis of the demographics, motivations and challenges of workers pursuing on-demand jobs. The data comes from a study from Intuit and Emergent Research that examined people working via eleven on-demand economy and online talent marketplace companies. Study participants included: Deliv, Field Nation, HourlyNerd, MBO Partners, OnForce, Uber, Upwork (formerly Elance-oDesk), Visually, Wonolo, and Work Market.
Methodology
A total of 4,622 workers who find work opportunities via the platforms provided by the participating partner companies completed an online survey between September 11 and October 1, 2015. The results were weighted to reflect the proportion of workers in each of the following segments: Drivers/Delivery, Online Talent Marketplaces and Field Service/Onsite Talent. The weights were developed using earlier survey work that sized the on-demand economy. The largest weighted share of on-demand worker respondents from any single company is 16%, with most partner companies providing less than 10% of the respondents.
Dispatches From The New Economy: The Five Faces Of The On-Demand EconomyIntuit Inc.
From people determined to be their own boss, to those embracing the flexibility to do something they love, to workers finding a replacement for a traditional job – people working in the on-demand economy are just about as diverse as the labor market itself. A new report from Intuit Inc. and Emergent Research shows that there are a broad range of motivations – and differing levels of satisfaction – among five distinct groups of on-demand workers:
The Business Builders – primarily driven by the desire to be their own boss. They represent 22 percent of on-demand workers.
The Career Freelancers – happily building a career through independent work. They represent 20 percent of on-demand workers.
The Side Giggers – looking to find financial stability by supplementing existing income. They represent 26 percent of on-demand workers.
The Passionistas – looking for the flexibility to do something they love. They represent 18 percent of on-demand workers.
The Substituters – replacing a traditional job that is no longer available. They represent 14 percent of on-demand workers.
Methodology
A total of 4,622 workers who find work opportunities via the platforms provided by the participating partner companies completed an online survey between September 11 and October 1, 2015. The results were weighted to reflect the proportion of workers in each of the following segments: Drivers/Delivery, Online Talent Marketplaces and Field Service/Onsite Talent. The weights were developed using earlier survey work that sized the on-demand economy. The largest weighted share of on-demand worker respondents from any single company is 16%, with most partner companies providing less than 10% of the respondents.
The document discusses the rise of the sharing economy. It notes that sharing services now reach 40,000 people per day across 30,000 cities and 192 countries. The sharing economy has grown due to factors like the recession, excess waste and unused goods, information overload, and a new generation that values sustainability and community over consumerism. Examples mentioned include crowdfunding sites like Kickstarter, local marketplaces like Etsy, and communities formed around sharing items, skills and physical spaces. The document argues this shift represents more than a fad and will continue transforming economic and social systems.
The Future Of Work & The Work Of The FutureArturo Pelayo
What Happens When Robots And Machines Learn On Their Own?
This slide deck is an introduction to exponential technologies for an audience of designers and developers of workforce training materials.
The Blended Learning And Technologies Forum (BLAT Forum) is a quarterly event in Auckland, New Zealand that welcomes practitioners, designers and developers of blended learning instructional deliverables across different industries of the New Zealand economy.
Turkey offers various investment incentives to encourage economic development, including tax exemptions and reductions. Incentives vary based on the type and location of investment. Key incentives include value-added tax and customs duty exemptions, tax reductions, and social security premium support. Larger investments and those in priority sectors or less developed regions qualify for enhanced incentives like higher tax reductions and contribution rates. The goal is to promote strategic industries and reduce inter-regional economic disparities through a tailored system of investment incentives.
Ecuador offers a favorable investment climate for businesses. It has a growing economy, political stability, and offers various tax incentives and investment protections. Key incentives include income tax exemptions for priority sectors, tariff exemptions on imported capital goods, and stability agreements providing protections for up to 30 years. The country aims to attract investment through Special Economic Development Zones with even lower tax rates and through public-private partnerships which develop infrastructure and share risks between government and businesses. Micro, small and medium enterprises are also supported through training subsidies and deductions for productivity improvements. Overall, Ecuador presents many opportunities for investment and is working to develop competitive infrastructure to support business growth.
The document summarizes key aspects of Sri Lanka's 2011 national budget. It outlines proposed tax reforms across several sectors, including reductions in corporate income tax and personal income tax. Public investment is slated to increase with a focus on infrastructure, rural development, and promoting inclusive growth. The reforms aim to make the economy less reliant on traditional exports and more focused on value-added manufacturing and capital formation.
This document has been prepared by the Finance Team of SED for information purpose only of its members residing both in Bangladesh and abroad, on the basis of the publicly available information in the market and own research. This document is not directed to, or intended for distribution to or use by, any person or entity that is citizen or resident of or located in any locality, state, country, or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation . The information and data presented herein are the exclusive property of SED and any unauthorized reproduction or redistribution of the same is strictly prohibited . No part of this report should be copied or used in any other report or publication or anything of that sort without proper credit given or prior written permission taken from the authorized publisher of this report . This disclaimer applies to the report irrespective of being used in whole or in part .
This document outlines Ecuador's economic development plan and incentives for private investment. It establishes a new legal framework to encourage private investment through regulations that respect the environment and workers. It provides tax exemptions and deductions for investments in priority sectors like agriculture, manufacturing, tourism and renewable energy. Incentives are also provided for small businesses, green production, depressed areas, and Special Economic Development Zones to attract investment. The goal is to promote a stable economy through sustainable and inclusive private sector growth.
This document outlines Ecuador's economic development plan and incentives for private investment. It establishes a new legal framework to encourage private investment through regulations that respect the environment and workers. It provides tax exemptions and deductions for investments in priority sectors like agriculture, manufacturing, tourism and renewable energy. Incentives are also provided for small businesses, green production, depressed areas, and Special Economic Development Zones to attract investment. The goal is to promote a stable economy through sustainable and inclusive private sector growth.
The present situation of foreign direct investment in Bangladesh comes next in the report. This part shows us foreign direct investment in Bangladesh is increasing gradually though still not up to the satisfactory level with some necessary statistics. The foreigners perceive Bangladesh as a country of natural disaster and political instability which is another reason for the low flow of invest able funds.
This document presents a case study on foreign direct investment (FDI) and economic growth in India. It discusses trends in FDI inflows to India by sector and top investing countries. Regression analyses show positive relationships between FDI and GDP/exports growth. The manufacturing sector is analyzed, showing India's rising global rankings. Challenges to FDI include crowding out domestic investment. The services, insurance, agriculture, retail, and tourism sectors are also examined in terms of attracting more FDI and related policies. A comparison of FDI policies and inflows between India and China is provided.
This document presents an analysis of foreign direct investment (FDI) in India, including its relationship to economic growth indicators like GDP and exports. It finds a positive correlation between FDI and these indicators based on regression analysis. The document also discusses sector-wise FDI distribution and trends in India, top investing countries, benefits and challenges of FDI, and provides recommendations to attract more FDI, including in key sectors like insurance, agriculture, retail, tourism, and real estate. It concludes with a comparative study of FDI inflows in India and China.
- Argentina is a strategic investment destination that has experienced strong economic growth in recent years with GDP growth of 7.4% from 2002-2009 and 9.2% in 2010.
- It has a diversified economy and competitive advantages in sectors like agriculture, renewable energy, and manufacturing that allow it to meet global demand.
- The public sector offers a range of incentives for investment including tax benefits and supports for job creation and exports to attract foreign investment.
The document summarizes investment incentives available in the Czech Republic, including tax incentives, job creation grants, and cash grants for capital investment. To qualify for incentives, investments must meet minimum thresholds for funds invested in manufacturing facilities, research and development centers, or business support centers. Incentives are greater for investments located in less developed regions and for strategic investments creating a large number of jobs. The application process involves registering a project with CzechInvest, the investment promotion agency of the Czech Republic, which then reviews and approves incentives.
The document summarizes India's Foreign Trade Policy which is announced every five years by the Union Commerce Ministry. The key objectives of the 2009-2014 policy are to arrest the declining trend of exports, double India's exports of goods and services by 2014, and double India's share of global trade by 2020. The policy aims to promote exports through fiscal incentives, institutional reforms, simplified procedures, and new trade agreements. It focuses on sectors like textiles, gems and jewelry, leather, and tea through schemes like the Focus Product Scheme.
The document summarizes the incentives offered by the Singapore government during COVID-19, including two stimulus packages totaling $52.4 billion. The Unity Budget provided $4 billion in short-term support for businesses, including wage subsidies, tax rebates, and SME loans. The larger Resilience Budget provided $48.4 billion, including expanded loan programs, support for aviation, tourism, and F&B sectors, cash payments for lower-income individuals, and training subsidies for self-employed workers. It also outlined tax deferrals and property tax rebates for businesses.
Safyr Utilis is pleased to provide you with our analysis of the tax measures announced in the budget speech delivered by the Honorable Pravind Jugnauth, Minister of Finance and Economic Development on 29 July 2016.
The document summarizes the key tax changes from Mauritius' 2016-2017 national budget. Some highlights include:
- Increasing personal income tax exemption thresholds and limits on interest and tuition fee deductions.
- Introducing a 5-year tax holiday for asset/fund managers with over $100 million assets under management and foreign ultra-high net worth individuals investing over $25 million.
- Exempting seafarers' income from tax and expanding real estate tax exemptions/refunds to boost the property sector.
- Increasing duties on sugar, spirits and tobacco while removing duties/VAT on various items and introducing new environmental levies.
- Providing temporary tax holidays for global
Ecuador presents itself as a 21st century country paradigm, with a strategic geographic location between Asia, Europe, and the Americas. It has implemented an ethical economy focused on workers' rights and environmental protection. Major reforms include a new constitution, tax amendments, and a production code to encourage private investment while ensuring social and environmental responsibility. Ecuador emphasizes its natural and cultural diversity, growing economy, skilled workforce, and incentives for investment in priority sectors as reasons for Korean and other foreign investors to consider opportunities in the country.
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1. For further inquiries: incentives@economy.gov.tr
Seminar Organized by ACC1Ó – INVEST IN TURKEY –
CONSULADO GENERAL DE TURQUÍA EN BARCELONA
Dr. Erdal BAL,
17 April 2013, Barcelona
GOVERNMENT INCENTIVES
TO INVEST
IN TURKEY
REPUBLIC OF TURKEY
MINISTRY OF ECONOMY
GENERAL DIRECTORATE OF INCENTIVE IMPLEMENTATION AND
FOREIGN INVESTMENT
REPUBLIC OF TURKEY
MINISTRY OF ECONOMY
11
3. For further inquiries: incentives@economy.gov.tr
Policy Orientation
The year 2023 would be the centenary of Turkish Republic’s establishment.
Therefore we set up a challenging vision for 2023. By year 2023, we do intend;
to take place among the top 10 economies in the world,
to achieve an annual export level of 500 billion USD and
to raise per capita income to 25 thousand USD.
Medium Term Program aims to sustain economic growth, to decrease the
current account deficit, and to preserve macroeconomic and financial stability.
New Investment Incentive ProgramNew Investment Incentive Program
2013* 2014* 2015*
GDP (Billion $, Current Prices) 858 919 998
GDP Per Capita ($) 11,318 11,982 12,859
Real GDP Growth (%) 4.0 5.0 5.0
Current Account Balance / GDP (%) -7.1 -6.9 -6.5
33
5. For further inquiries: incentives@economy.gov.tr
Support MeasuresSupport Measures
Support MeasuresSupport Measures
GeneralGeneral
InvestmentInvestment
RegionalRegional
InvestmentInvestment
Large ScaleLarge Scale
InvestmentInvestment
StrategicStrategic
InvestmentInvestment
VAT Exemption
Customs Duty Exemption
Tax Deduction
Social Security Premium Support
(Employer’s Share)
Interest Support
Land Allocation
VAT Refund
Only For Region 6 (The Least Developed Region)
Income Tax Withholding Support
Social Security Premium Support
(Employee’s Share)
55
6. For further inquiries: incentives@economy.gov.tr
VAT Exemption: VAT exemption for investment
machinery and equipment imported and/or locally provided
within the scope of the incentive certificate (~18%)
Customs Duty Exemption: Custom duty exemption for
investment machinery and equipment imported within the
scope of the incentive certificate (~2%)
Tax Deduction: In terms of tax reduction, contribution
rates available from 15 % to 65 %
Support MeasuresSupport Measures
66
7. For further inquiries: incentives@economy.gov.tr
Investment Amount $5.000.000
Tax Rate %20
Tax Reduction %70
Corporate/income tax rate to be applied until the investor
makes full use of support measure’s contribution to
investment amount
%6
Rate of Contribution to Investment %30
Tax Deductable Amount $1.500.000
Support MeasuresSupport Measures
TAX DUDUCTION EXAMPLE
77
8. For further inquiries: incentives@economy.gov.tr
Interest Rate Support: For investment loans, a certain portion of the
interest share covered by the Ministry.
3-7 percentage points for TL credits,
1-2 percentage points for foreign currency credits.
Land Allocation: Government land allocated
for the investments.
VAT Refund: VAT collected on the building & construction expenses
will be rebated. (only for strategic investment projects with a fixed
investment cost of least TL 500 Million)
Support MeasuresSupport Measures
88
9. For further inquiries: incentives@economy.gov.tr
For the additional employment created by the investment
Social Security Premium Employer’s Share, certain portions of labor
wages corresponding to amount of legal minimum wage covered by the Ministry. (~ $
104 per employee per month)
Available up to 12 years
Social Security Premium Employee’s Share, certain portions of labor
wages corresponding to amount of legal minimum wage covered by the Ministry.
(only for Region 6) (~ $ 75 per employee per month)
Avalable for 10 years
Income Tax Withholding exemption, exemption from income tax
withholding. (only for Region 6) (~ $ 68 per employee per month) Avalable for 10
years
Support MeasuresSupport Measures
99
11. For further inquiries: incentives@economy.gov.tr
Regional Investment Incentive SchemeRegional Investment Incentive Scheme
RegionalRegional IncentivesIncentives
The aim of the Scheme:
Aims to eliminate inter-regional imbalances.
The supported sectors:
Supported sectors determined according to the economic potentials
of provinces and scales of economies.
For each provinces, supported sectors list with a different minimum
investment amount or capacity requirement.
The support rates and terms:
Rates and terms of support measures differentiated according to
development level of the regions.
1111
12. For further inquiries: incentives@economy.gov.tr
Regional Incentives MapRegional Incentives Map
1212
13. For further inquiries: incentives@economy.gov.tr
REGIONAL INVESTMENT INCENTIVE SCHEME
Summary TableSummary Table
Incentives Region 1 Region 2 Region 3 Region 4 Region 5 Region 6
VAT Exemption
Customs Duty Exemption
Tax Reduction out of OIZ
Rate of Contribution
to Investment (%) in OIZ
15 20 25 30 40 50
20 25 30 40 50 55
Social Security out of OIZ
Premium Support
(Employer’s Share) in OIZ
2 years 3 years 5 years 6 years 7 years 10 years
3 years 5 years 6 years 7 years 10 years 12 years
Land Allocation
Interest Support N/A N/A
Income Tax Withholding N/A N/A N/A N/A N/A 10 years
Social Security Premium
Support (Employee’s Share)
N/A N/A N/A N/A N/A 10 years
1313
14. For further inquiries: incentives@economy.gov.tr
PRIORITY INVESTMENTS
Following priority investments will benefit from terms and rates of the support
measures of Region 5 even they are made in Regions 1, 2, 3, 4.
Specific pharmaceutical investments (bio-technologic and oncology
pharma, blood products) and Defense Industry investments with
minimum investment amount of TL 20 Million (~ $11 Million)
Regional Incentives / Sub-schemeRegional Incentives / Sub-scheme
Tourism investments in Cultural and Touristic Preservation
and Development Regions determined by the Council of
Ministers Decree.
Mining Investments
Railroad and maritime transportation investments
1414
15. For further inquiries: incentives@economy.gov.tr
PRIORITY INVESTMENTS
Pre-school, Primary, Middle and High School investments
by private sector
Test facilities, wind tunnel and similar investments made for
automotive, space or defense industries
International fairground investments with a minimum
covered area of 50.000 m2
Investments made to produce products developed by an
R&D Project which is supported by Ministry of Science,
Industry and Technology, TUBITAK and KOSGEB
1515
Regional Incentives / Sub-schemeRegional Incentives / Sub-scheme
16. For further inquiries: incentives@economy.gov.tr
PRIORITY INVESTMENTS
Engine parts, transmission and parts and/or automotive
electronics production with a minimum investment
amount of TL 20 Million (~ $11 Million)
Automotive OEM investments with a with a minimum
investment amount of TL 300 Million (~ $170 Million)
Engine production investments with a with a minimum
investment amount of TL 75 Million (~ $42 Million)
Electric energy production which uses specific mines
(i.e. lignite, hard coal, anthracite) as inputs.
1616
Regional Incentives / Sub-schemeRegional Incentives / Sub-scheme
17. For further inquiries: incentives@economy.gov.tr
AUTOMOTIVE INDUSTRY
1717
Automotive Sector was choosed among Priority Investments as of 15th of
February 2013 with a new regulation.
Total vehicle production in Turkey is 1.073.000 (2012)
The capacity is 1,6 Million units
69 % of total vehicle production is exported
There are 14 major brands including Ford, Honda, Hyundai, M. Benz,
Renault, Fiat, Toyota
2023 TARGETS FOR THE INDUSTRY
Annual export level of 75 billion USD
Annual production level 4 million unit/year (3 million unit/year export)
Special Emphasis on AutomotiveSpecial Emphasis on Automotive
18. For further inquiries: incentives@economy.gov.tr
NEW REGULATION
1818
Automotive OEM
investments
(minimum investment
amount of $170 Million)
Engine production
investments
(minimum investment
amount of $42 Million) Engine, transmission
parts and/or automotive
electronics
(minimum investment
amount of $11 Million)
Priority
Investments
VAT Exemption
Customs Duty Exemption
Social Security Premium Support (Employer’s Share)
(7 Years)
Land Allocation
Interest Support (Max 700 Bin TL)
Tax Deduction (Cont. Rate %40; Tax. Red. Rate %80)
Special Emphasis on AutomotiveSpecial Emphasis on Automotive
19. For further inquiries: incentives@economy.gov.tr
Incentives Terms and Rates
VAT Exemption
Customs Duty Exemption
Tax Reduction
Rate of Contribution
to Investment (%)
40
Social Security Premium Support
(Employer’s Share)
7 years
Land Allocation
Interest Support
SUPPORT MEASURES FOR PRIORITY INVESTMENTS
Regional Incentives / Sub-schemeRegional Incentives / Sub-scheme
1919
21. For further inquiries: incentives@economy.gov.tr
# Investment Subjects
Min. Inv. Amount
Million TL Million USD
1 Refined Petroleum Products 1.000 555
2 Chemical Products 200 111
3 Harbours and Harbour Services 200 111
4 Automotive OEM and Side Suppliers 200-50 111 -28
5 Railway and Tram Locomotives and/or Railway Cars 50 28
6 Transit Pipe Line Transportation Services 50 28
7 Electronics 50 28
8 Medical, High Precision and Optical Equipment 50 28
9 Pharmaceuticals 50 28
10 Aircraft and Space Vehicles and/or Parts 50 28
11 Machinery (including Electrical Machines And Equipments) 50 28
12 Integrated Metal Production 50 28
Large Scale Investment Incentive SchemeLarge Scale Investment Incentive Scheme
Goals of the Scheme:
Improvement of Technology and R&D Capacity
Provide a competitive advantage in the international arena
Large Scale SchemeLarge Scale Scheme
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22. For further inquiries: incentives@economy.gov.tr
Incentives Region 1 Region 2 Region 3 Region 4 Region 5 Region 6
VAT Exemption
Customs Duty Exemption
Tax Reduction out of OIZ
Rate of Contribution
to Investment (%) in OIZ
25 30 35 40 50 60
30 35 40 50 60 65
Social Security out of OIZ
Premium Support
(Employer’s Share) (Year) in OIZ
2 3 5 6 7 10
3 5 6 7 10 12
Land Allocation
Interest Support N/A N/A N/A N/A N/A N/A
Income Tax Withholding N/A N/A N/A N/A N/A 10
Social Security Premium Support
(Employee’s Share) (Year)
N/A N/A N/A N/A N/A 10
Large Scale Investment Incentive Scheme
Summary TableSummary Table
2222
24. For further inquiries: incentives@economy.gov.tr
Strategic Investment Incentive SchemeStrategic Investment Incentive Scheme
Goals of the scheme:
This scheme aims at supporting production of intermediate
and final products with high import dependence with a view
to reduce current account deficit.
It also targets encouraging high-tech and high value added
investments with a potential to strengthen Turkey’s
international competitiveness.
Strategic SchemeStrategic Scheme
2424
25. For further inquiries: incentives@economy.gov.tr
Strategic Investment Incentive SchemeStrategic Investment Incentive Scheme
Eligibility Criteria for Strategic Investment:
Production of import dependent intermediate goods and
final products (more than 50% supplied by imports)
50 Million TL ($28 M) minimum investment amount
A minimum 40% value addition
Import in the last year should be at least $ 50M (This
condition is not necessary for goods with no domestic
production)
2525
Strategic SchemeStrategic Scheme
26. For further inquiries: incentives@economy.gov.tr
Incentives All Regions
VAT Exemption
Customs Duty Exemption
Tax Reduction
Rate of Contribution to
Investment (%)
50%
Social Security Premium Support
(Employer’s Share)
7 Years (10 years for Region 6)
Land Allocation
VAT Refund
The building and construction costs of investments
of more than 500 Million TL ($277M)
Interest Payment Support
Limited to 5% of total investment amount and with a
cap of 50 Million TL ($27M)
Income Tax Deduction Support 10 years only for Region 6
Social Security Premium Support
(Employee’s Share)
10 years only for Region 6
Strategic Investment Incentive Scheme
Summary TableSummary Table
2626
28. For further inquiries: incentives@economy.gov.tr 2828
General Investment Incentive SchemeGeneral Investment Incentive Scheme
Regardless of region where investment is made, the scheme is available for
all investment projects provided that:
Investment subject is not excluded from the investment incentives
programs.
Requirement of minimum fixed investment amount is met
• 1 Million TL. ($555K) in Regions I and II,
• 500 Thousand TL.($277K) in Regions III, IV, V and VI respectively.
The investment projects that are supported from the General Investment
Incentives Scheme will benefit only from Customs Duty and VAT exemptions
on their machinery and equipment expenditures.
General SchemeGeneral Scheme
29. For further inquiries: incentives@economy.gov.tr
For More InformationFor More Information
Investment Incentive Information CenterInvestment Incentive Information Center
PhonePhone : +90 312 444 43 63: +90 312 444 43 63
e-maile-mail : incentives@economy.gov.tr: incentives@economy.gov.tr
WebWeb : http://www.incentives.gov.tr: http://www.incentives.gov.tr
2929
Editor's Notes
I would like to touch upon an important point for us. As some of you may know, the year 2023 would be the centenary of Turkish Republic’s establishment. Therefore we set up a challenging vision for 2023. By year 2023, we do intend; to take place among the top 10 economies in the world, to achieve an annual export level of 500 billion USD and to raise per capita income to 25 thousand USD. In line with these targets, we strongly need to take three fundamental and crucial steps. In other words, in order to secure our year 2023 vision, we dedicated ourselves to commit three actions and these are as follows: First, we are highly decisive to provide the integrity between investment, production, employment and export policies, We are also determined to increase the production of raw material and intermediate goods in which Turkey is highly dependent to import, Finally, we are persistent to shape the transformation of our export from labor-intensive technologies to information-intensive technologies that means the transition to medium or high technology products in a sense. These are the reasons that we have prepared a new incentive scheme. The medium term programme aims to sustain economic growth, to decrease the current account deficit, and to preserve macroeconomic and financial stability. With this stable growth, Turkey targets to be one of the biggest ten economies of the world in 2023, which is the centennial of our Republic, with a GDP of 2 trillion dollars and an export figure of 500 billion dollars.
The provinces are ranked according to their socio-economic development levels, the country is divided into 6 different regional areas as seen on the map. The red coloured areas are the most developed regions whereas the orange ones are the least developed regions. The aim of this scheme is to eliminate inter-regional imbalances. The supported sectors in each region are determined according to the economic potentials of provinces and scales of economies. For each provinces, there is a supported sectors list with a different minimum investment amount or minimum capacity requirement s .
This matrix table is showing support measures’ rates and terms for each region seperately. As you see here, supports are increasing when the development level of region is decreasing. I want to emphasize two points here; In terms of two support measures (Tax Reduction and SSPS(employers share)) companies can benefit from the one level up supports when the investment is in OIZs. Secondly, the support measures for region 6 is extremely high. For example, when you look at Region 3 investment in an OIZ, the support measures are as following; VAT Exemption, Customs Duty Exemption, Tax Reduction with 30% rate of contribution, SSPS(employers share) for 6 years, Land Allocation and Interest Rate Support.
Investments in some sectors are determined as priority investments. Even if the companies make the investment in Region 1,2,3 or 4 , they will benefit from the support measures of Region 5. The investments are as following;
Investments in some sectors are determined as priority investments. Even if the companies make the investment in Region 1,2,3 or 4 , they will benefit from the support measures of Region 5. The investments are as following;
12 different sectors which are critical for our economy are determined as large scale investments. These sectors are as following; The investments made in these sectors can benefit from this scheme in any region. And on the right hand side, you see the minimum investment amount requirements for benefiting from large scale scheme.
This matrix table is showing support measures’ rates and terms for each region seperately under large scale investment incentive scheme. Again you see here, supports are increasing when the development level of region is decreasing. For example, when you look at Region 5 investment out of OIZ, the support measures are as following; VAT Exemption, Customs Duty Exemption, Tax Reduction with 50% rate of contribution, SSPS(employers share) for 7 years, Land Allocation.
Startegic investments are defined as the investment for the production of intermediate or final products of which more than 50% of the market demand is supplied by imports . Energy investments for exclusive use of such strategic investments will be also considered as strategic investments. This scheme aims at support ing production of intermediate and final products with high import dependence with a view to reduce current account deficit on the basis of the “Input Supply Strategy”. It also targets encouraging high-tech and high value added investments with a potential to strengthen Turkey’s international competitiveness.
This table is showing the support measures for strategis investments. Strategic investments will benefit from the same support measures and rates in any region of the country. For this scheme, VAT refund is a special support measure which is available for the investments above 500 million TL. This support measure will be a cash grant during investment period. The VAT paid for the building and construction expenses will be rebated to the company.