Turkey has updated its state investment incentive scheme, prioritizing investments in laboratories across the country. The Investment Incentive Scheme divides Turkey into six regional categories, grouping provinces based on their socio-economic development and targeting incentives accordingly. Under recent changes, investments into research and reference laboratories, consumer safety and infectious diseases reference laboratories, as well as medicine, medical device analysis and control laboratories, are now eligible to the incentives offered to the fifth region, regardless of the laboratory's location.
Qualifying investments will receive:
- corporate tax reduction in case the investment contribution rate is 40%.
- Support with social security premiums for seven years.
- Interest rate support,
- Exemption from customs duties.
- Exemption from VAT.
The Amendment Decree to the Decree on Investment Incentives was published in Official Gazette number 30157 on 17 August 2017. Please see this link for the full text of the Amendment Decree (only available in Turkish).
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.