Incentives to be granted for investments in new technology

Aksam - The Turkish government has hastened its efforts for improving the investment climate in order to accelerate flow of foreign investments into our country. The work on the new incentive system, which has been developed in line with the requests of foreign investors, is in its final stage. Accordingly, tax incentives will be granted for investments, in particular for those that will bring new technologies. Therefore, greenfield investments will be encouraged, rather than brownfield investments. Besides, putting investment allowances into force with a new formula is also on the agenda. Through this system, income will not be taxed until 50 percent of the investment is paid off.