Merhaba! I am Shun Yoshida from Tokyo Consulting Firm Turkey Office.
I shared about “Digital Service Tax” last week.
This week I would like to mention information about “New Free-trade Zone Specializing in R&D” announced by Mrs. Ruhsar PEKCAN, Minister of Trade on June 9th.
According to her announcement, special incentive programs including tax exemptions, breaks on rent, and qualified employment support will be applied for the companies specializing in research and development (R&D), high technology and high added-value activities. There is no specific information regarding the business type applicable to the said incentives at this point, though, it seems the Specialized Free Zone in Istanbul will mainly put emphasis on IT business sectors.
The following incentives will be provided to the companies at the said Specialized Free Zone in addition to the existing incentive programs.
- Supporting 50% of the total monthly wage income of up to 10 professional employees for companies in the Specialized Free Zone. (The annual support amount is up to 15,000 dollars per employee.)
- Supporting 50% of the rent fee for land and buildings in the Specialized Free Zone.
(The support amount is up to $75,000 per year.) - Supporting 50% of interest for fixed investment and payment of dividend for companies incorporating and operating in the Specialized Free Zone up to $10 million for 10 years.
That is all for this week.
We also offer free-of-charge meeting(online/offline) regarding establishment and business development in Turkey.
If you have any question other than the above, please feel free to contact us.
Thank you very much for your time read until the end.
References
・DAIRY SABAH
https://www.dailysabah.com/business/economy/turkey-launches-new-free-trade-zone-specializing-in-rd-technology
・JETRO ビジネス短信
https://www.jetro.go.jp/biznews/2020/06/132ce7924c2cd2b6.html
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