Merhaba! I am Shun Yoshida from Tokyo Consulting Firm Turkey Office.
I shared about “Points to Note regarding Fixed-term Employment Contract” for the last two weeks.
For the next two weeks, I would like to share the latest update on ‘Regional Investment Incentives’.
According to the Official Gazette 31220 published on August 21st. Turkish government will conduct the restructuring of target areas for Regional Investment Incentives and segmentalize them by cities.
This implementation will be effective as of upcoming January, 2021. As many of you may know, developed regions are provided with fewer support ranges than lesser developed regions in the Regional Investment Incentives and some provinces have been reorganized their regions by the latest announcement.
Please refer to the new incentive region categories by provinces which will be applied from next January as follows;
Reference: PRESIDENCY OF THE REPUBLIC OF TURKEY INVESTMENT OFFICE
‘GUIDE TO STATE INCENTIVES FOR INVESTMENTS IN TURKEY’
【Incentives Region Categories by Provinces from 2021.1.1】
*Yellow: Provinces reorganized to the lower region.
Orange: Provinces reorganized to the upper region.
Reduction of Corporate Income Tax, VAT Exemption, SSP (Social Security Premium) Support for Employers’ share are included as the examples included in the Regional Investment Incentives. As a point to note, one-level higher region’s incentives will be applicable in case the investment is conducted in the OIZ (Organized Industrial Zones) with regards to the points Reduction of Corporate Income Tax and SSP Support for Employers’ share. Furthermore, Availability of incentives will be eventually determined by the government and its result and contents will be different case by case. Hence, it is better for companies to investigate and compare each potentiality of applicable incentives prior to the beginning of incorporation, especially for manufacturing companies that are considering the investment in OIZ.
That is all for this week.
I will explain the further details of the abovementioned update in the next article of mine for upcoming week.
We offer free meeting (online/offline) regarding establishment and business development in Turkey.
If you have any question other than the above, please do not hesitate to contact us.
Thank you very much for your time to read until the end.
Reference
・JETRO ビジネス短信
https://www.jetro.go.jp/biznews/2020/08/2eede9426457f4cc.html
・PRESIDENCY OF THE REPUBLIC OF TURKEY INVESTMENT OFFICE
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また、代表の久野が執筆した
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東京コンサルティングファーム・トルコ拠点
吉田瞬
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