investment – Muhasebe News https://www.muhasebenews.com Muhasebe News Sun, 18 Aug 2024 12:17:57 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.5 How can the reduced tax rate benefit be applied in the event of a transfer of the investment before it becomes operational or after it has partially or fully commenced operations? https://www.muhasebenews.com/en/how-can-the-reduced-tax-rate-benefit-be-applied-in-the-event-of-a-transfer-of-the-investment-before-it-becomes-operational-or-after-it-has-partially-or-fully-commenced-operations/ https://www.muhasebenews.com/en/how-can-the-reduced-tax-rate-benefit-be-applied-in-the-event-of-a-transfer-of-the-investment-before-it-becomes-operational-or-after-it-has-partially-or-fully-commenced-operations/#respond Sun, 18 Aug 2024 12:17:57 +0000 https://www.muhasebenews.com/?p=153557 In the event that the investment is transferred before it becomes operational, the transferee company will be able to benefit from the reduced tax rate, provided that it fully complies with the conditions specified in the relevant legislation. However, the transferor company cannot benefit from the reduced tax rate due to this investment if the transfer occurs before the investment becomes operational.

If the investment is transferred after it has partially or fully commenced operations, the reduced tax rate can be applied by the transferor up to the date of the transfer, and by the transferee after the date of the transfer, provided that they meet the conditions specified in the relevant legislation.

 

 

 

 

 

Source: GİB
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/how-can-the-reduced-tax-rate-benefit-be-applied-in-the-event-of-a-transfer-of-the-investment-before-it-becomes-operational-or-after-it-has-partially-or-fully-commenced-operations/feed/ 0 Turkish Startups Receive USD 1.2 Billion Investment in the First Half https://www.muhasebenews.com/en/turkish-startups-receive-usd-1-2-billion-investment-in-the-first-half/ https://www.muhasebenews.com/en/turkish-startups-receive-usd-1-2-billion-investment-in-the-first-half/#respond Fri, 30 Jul 2021 09:18:57 +0000 https://www.muhasebenews.com/?p=113065 ​In the first quarter of 2021, 61 startups had raised USD 508 million from angel investors and venture capital funds, setting a record for the Turkish startup ecosystem. According to Startup.Watch’s “Turkish Startup Ecosystem Quarterly Report-Q2 2021″ report, 63 startups raised USD 746 million investments totaling the first half amount to USD 1.2 billion.

Getir became the most invested startup in Turkey with USD 550 million and with a valuation of USD 7.5 billion. Dream Games, the second highest recipient of investments after Getir, also became a unicorn in the second quarter of the year.

Turkey ranked 8th in Europe and 2nd in the Middle East and North Africa angel and venture capital investment leagues. ​

Source: Republic of Turkey Investment Office
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/turkish-startups-receive-usd-1-2-billion-investment-in-the-first-half/feed/ 0 EY Report Marks Turkey One of the Largest Investment Destinations in Europe https://www.muhasebenews.com/en/ey-report-marks-turkey-one-of-the-largest-investment-destinations-in-europe/ https://www.muhasebenews.com/en/ey-report-marks-turkey-one-of-the-largest-investment-destinations-in-europe/#respond Fri, 30 Jul 2021 09:17:18 +0000 https://www.muhasebenews.com/?p=113063 ​​​​Consulting firm Ernst & Young’s (EY) recent “EY Attractiveness Survey Europe June 2021,” report revealed that despite the 13 percent decline in the number of FDI projects in Europe, stemming from the turbulence and uncertainty caused by COVID-19, the number of FDI projects in Turkey increased 18 percent in 2020, making the country one of the largest investment destinations in Europe.

According to the report, Turkey is one of the largest investment destinations, which increased its share in Europe along with Switzerland, Finland and Sweden.

In the meantime, Turkey has become the 2nd largest destination in Europe for manufacturing with 153 projects, while manufacturing investments in Europe fell 22 percent due to supply chain disruption and uncertain demand.

The report also reveals that Turkey grew to be the second most preferred investment location for the chemical industry in Europe, at a time when European countries had to contend with a 5 percent decline in total.

Source: Republic of Turkey Investment Office
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/ey-report-marks-turkey-one-of-the-largest-investment-destinations-in-europe/feed/ 0 Turkish Startups Received USD 508 Million Investment in Q1 https://www.muhasebenews.com/en/turkish-startups-received-usd-508-million-investment-in-q1/ https://www.muhasebenews.com/en/turkish-startups-received-usd-508-million-investment-in-q1/#respond Thu, 22 Apr 2021 09:06:12 +0000 https://www.muhasebenews.com/?p=108170

In the first quarter of 2021, 61 startups raised USD 508 million from angel investors and venture capital funds, setting a record for the Turkish startup ecosystem.

According to Startup.Watch’s “Turkish Startup Ecosystem Quarterly Report-Q1 2021″, Getir became the second unicorn in Turkey with a valuation of USD 2.6 billion. Led by Dream Games, which received the highest investment after Getir, the activity in the gaming industry continued in 2021 with 15 gaming startups receiving USD 60 million investment in the first quarter.

Turkey ranked 10th in Europe and 2nd in the Middle East and North Africa angel and venture capital investment leagues. ​​​

Source: Republic of Turkey Investment Office
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/turkish-startups-received-usd-508-million-investment-in-q1/feed/ 0 Turkey’s Startup Martı Attracts 25 Million Dollars in Investment https://www.muhasebenews.com/en/turkeys-startup-marti-attracts-25-million-dollars-in-investment/ https://www.muhasebenews.com/en/turkeys-startup-marti-attracts-25-million-dollars-in-investment/#respond Fri, 24 Jul 2020 10:00:07 +0000 https://www.muhasebenews.com/?p=89290 ​​Turkey’s rental scooter startup Martı announced that it has raised an additional USD 25 million worth of investment.
Founded in 2018 and grew to build a service base spanning several metropoles in Turkey since 2019, Martı has recently attracted investments from 212 Venture Capital Fund and Wamda Capital.
According to Martı’s released mission statement, it has set goals to boost the mobility sector in Turkey, present Turkish commuters with comfortable and environment-friendly solutions and trail blaze for other countries to follow.
Martı is about to increase its employees to 1,000, with as many as 3,000,000 active service users.

Source: Republic of Turkey Investment Office News
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/turkeys-startup-marti-attracts-25-million-dollars-in-investment/feed/ 0 Exemption in vehicles, oil searching and incentive certificated investments in Turkey https://www.muhasebenews.com/en/exemption-in-vehicles-oil-searching-and-incentive-certificated-investments-in-turkey/ https://www.muhasebenews.com/en/exemption-in-vehicles-oil-searching-and-incentive-certificated-investments-in-turkey/#respond Mon, 09 Dec 2019 12:30:23 +0000 https://www.muhasebenews.com/?p=72785 Exemption in vehicles, oil searching and incentive certificated investments in Turkey
  • Delivery of sea, air and railway vehicles,
  • Delivery of floating system and vehicles,
  • Delivery and services done concerning the manufacture and construction of these vehicles.
  • Modification, maintenance and repair services of these vehicles

provided to the taxpayers whose businesses are leasing, air and railway transportation vehicles, floating system and vehicles or operating these vehicles in various forms are exempt from value added tax.

(Value Added Tax Law a. 13/1-a, Value Added Tax Law General communiqué II/B-1)

(2) Exploration, operating, enrichment and refining activities concerning gold, silver and platinum and the delivery of goods and services provided to the businesses deal with oil exploration activities within scope of Oil Exploration Law provisions; are exempt from value added tax.

(Value Added Tax Law a.13/1-c, Value Added Tax Law General communiqué II/B-3, II/B-4)

(3) Delivery of machines and equipment to the taxpayers who has the investment incentive certificate are exempt from value added tax, under condition that the delivery is in the scope of this certificate.

(Value Added Tax Law a.13/1-d, Value Added Tax Law General communiqué II/B-5)

(4) Delivery of goods and services concerning businesses mentioned hereafter to the taxpayers who deal with construction, restoration and widening businesses of ports and airports by themselves or make others deal with these businesses are exempt from value added tax. (Value Added Tax Law a. 13/1-e, Value Added Tax Law General communiqué II/B-6)

The delivery of goods listed under Annex II List of Excise Tax Law; under condition that these goods are provided to the firms, who deal with exploration and production of oil according to the 6326 numbered Oil Law to be used in those activities, are exempt from tax. (Excise Tax Law a.7.1.b) (Excise Tax Law List (I) General Communiqué II/C-2)

Source: Revenue Administration of Republic of Turkey / link: https://www.gib.gov.tr/en/references-and-resources/tax-incentives/e
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/exemption-in-vehicles-oil-searching-and-incentive-certificated-investments-in-turkey/feed/ 0 Invest in Electricity Sector in Turkey https://www.muhasebenews.com/en/invest-in-electricity-sector-in-turkey/ https://www.muhasebenews.com/en/invest-in-electricity-sector-in-turkey/#respond Wed, 04 Dec 2019 10:00:14 +0000 https://www.muhasebenews.com/?p=72313 Invest in Electricity Sector in Turkey

Why invest in Turkey?

Demand for energy and natural resources has been increasing due to economic and population growth in Turkey. In recent years, Turkey has seen the fastest growth in electricity demand among OECD members, with an annual growth rate of 5.596 since 2002. Turkey will increase by 5096 its energy use over the next decade, Moreover, the projections of the Ministry of Energy and Natural Resources (MENR) confirm that this trend will continue in the long term. Turkey’s installed capacity has reached 88.5 GW in 2018 and 90.4 GW in August 2019. Turkey has achieved an additional capacity increase of 3,351 MW in 2018.

Turkey has substantial amount of renewable energy potential, and the utilization of this potential has been increasing over the last decade. As of the end of August 2019, hydro and wind resources constitute the vast majority of Turkey’s renewable energy capacity, accounting for 28.44 GW and 727 GW respectively of the total installed capacity of 90.4 GW. Furthermore, Turkey’s target is to develop around 10 GW additional installed capacity each in solar and wind energy by 2026 compared to the 2016 baseline. Additionally, Turkey aims to increase the share of domestic and renewable energy in power generation to 2/3 by 2023.

Making full use of the Renewable Energy (RE) potential is at the top of Turkey’s agenda, and the potential is still to a large extent untapped. As of August, Turkey has an installed capacity of about 727 GW and more than 35 GW of licensed wind capacity is under construction. On the other hand, Turkey has an onshore wind potential of 37 GW and a completely untapped offshore wind potential of 11 GW.

The Renewable Energy Zone (REZ) model was created by Turkey in order to ensure efficient and effective use of RE resources by setting up large scale REZS in selected areas. The model was designed in a way that also serves to help attain the localization target set in the National Energy and Mining Policy. The REZ model is, in essence, an auction mechanism where the winner of the tender is granted the right to generate and sell the electricity at a price determined as a result of the process. The tender involves the condition of the establishment of local manufacturing and R&D facilities or using locally manufactured equipment with an aim to ensure localization. The REZ model is important for Turkey as it is a tool for fast-tracking the realization of planned projects and technology transfer.

Turkey has been gearing up its RE investments, and one of the tools Turkey employs to this end is the REZ tenders. In 2017, Turkey held two tenders for solar and wind energy with 1 GW capacity each by using REZ auction. In 2019, a new wind tender covering 4 regions with a total installed capacity of 1 GW was completed.

As for the solar potential, annual average daylight duration in Turkey is 7.5 hours and the average annual radiation is 1,527 kWh/m2, which is higher than most of Europe. Turkey’s installed solar capacity is only around 5.53 GW, although solar power potential in Turkey is nearly twice that size of Northern Europe’s. The effort to invest in RE will lead to growing demand for RE equipment such as turbines and photovoltaics (PV) panels. Turkey will continue to incentivize localization through providing bonuses for locally manufactured equipment.

The Turkish electricity sector has gone through a significant transformation in the past two decades. Throughout this period, the electricity market underwent a liberalization process along with the establishment of a regulatory authority for the energy sector, went through reforms, and became a functional electricity market with large-scale private sector participation following privatization.

Seeking to become a full member of the European Union, Turkey took the initiative to open its electricity market to competition in 2001. This marked a turning point for Turkey, as the design and legal framework of the new market were adapted from those of the European Union. Since 2001, there have been some major developments in the market. In 2013, the new Electricity Market Law No. 6446 was published and the privatization processes of 21 distribution companies were completed.

Turkey also aims to increase the share of domestic coal in electricity generation by transferring coal reserves to the private sector with the obligation of building and operating coal-fired power plants in the vicinity.

Coal still has a major share in the electricity generation mix of Turkey. As of the end of August 2019, electricity generated from domestic coal is 34,039 GWh (16.796 of the total generation 203,548 GWh) and the installed capacity of domestic coal is 11.5 GW (1259 of total installed capacity 90.4 GW).

For detailed information about the electricity sector in Turkey, please visit: https://www.enerji.gov.tr//File/?path=ROOT%252f1%252fDocuments%252fAnnouncement%252fInvestor%25e2%2580%2599s%2bGuide%2bfor%2bElectricity%2bSector%2bin%2bTurkey%2b.pdf&version1%2c00

Source: Ministry of Energy and Natural Resources of Republic of Turkey / link: https://www.enerji.gov.tr//File/?path=ROOT%252f1%252fDocuments%252fAnnouncement%252fInvestor%25e2%2580%2599s%2bGuide%2bfor%2bElectricity%2bSector%2bin%2bTurkey%2b.pdf&version1%2c00
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/invest-in-electricity-sector-in-turkey/feed/ 0 Exemption of Investment Deduction in Turkey https://www.muhasebenews.com/en/exemption-of-investment-deduction-in-turkey/ https://www.muhasebenews.com/en/exemption-of-investment-deduction-in-turkey/#respond Tue, 12 Nov 2019 11:00:36 +0000 https://www.muhasebenews.com/?p=70595 Exemption of Investment Deduction in Turkey

Being valid from 01.01.2006, with the Law numbered 5479, Article 19 of the Income Tax Law headed “Exemption of Investment Deduction on Business and Agricultural Earnings” has been abolished, and Temporary Article 69, attached to this Law, regulates the transition period implementations. According to this;

  • Exemption amount which could not be deducted before the date of 01.01.2006, by reason of insufficient earnings in previous years,
    • Exemptions which will be calculated on account of investment expenditures which is done after the date of 01.01.2006 within the context of incentive certificates based on applications submitted before the date of 24.04.2003 for the investments which begun within the framework of Additional Articles1-6 of the Income Tax Law abolished previously,
    • Exemptions which will be calculated on account of investment expenditures following the date of 01.01.2006, given that providing economic and technical integrity with investments which began before the date of 01.01.2006 within the scope of Article 19 of Income Tax law,

can be deducted as exemption of investment deduction.

(Income Tax Law a.19; Income Tax Law Temporary Article 61; Income Tax Law Temporary Article 65; Income Tax Law Temporary Article 69; Income Tax Circular/1; Income Tax Circular/22; Income Tax Circular/23; Income Tax Circular/32)

Source: Revenue Administration (link: https://www.gib.gov.tr/en/references-and-resources/tax-incentives/a)
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/exemption-of-investment-deduction-in-turkey/feed/ 0 Free Zones in Turkey https://www.muhasebenews.com/en/70580-2/ https://www.muhasebenews.com/en/70580-2/#respond Tue, 12 Nov 2019 10:00:14 +0000 https://www.muhasebenews.com/?p=70580

Free Zones in Turkey

Definition of Free Zone

Free Zones are defined as fenced-in areas in which special regulatory treatment exists for the operating users in order to promote exports of goods and services. Free zones offer more convenient and flexible business climate in order to increase trade volume and export for some industrial and commercial activities as compared to the other parts of country.

  • Promoting export-oriented investment and production.
  • Accelerating foreign direct investment and technology access.
  • Directing enterprises towards export.
  • Developing international trade.

Activities

In general, all kind of activities can be performed in Turkish Free Zones such as:

  • Research and Development (R&D),
  • Manufacturing,
  • Software,
  • General trading,
  • Storing,
  • Packing,
  • Banking and insurance.

Investors are free to construct their own premises, while zones have also available office spaces or warehouses on rental basis with attractive terms. All field of activities open to Turkish companies are also open to joint-venture of foreign companies.

FREE ZONES IN TURKEY DATE OF EST.
1 MERSIN FREE ZONE 1985
2 ANTALYA FREE ZONE 1985
3 AEGEAN FREE ZONE 1987
4 ISTANBUL ATATURK AIRPORT FREE ZONE 1990
5 TRABZON FREE ZONE 1990
6 ISTANBUL THRACE FREE ZONE 1990
7 ADANA YUMURTALIK FREE ZONE 1992
8 ISTANBUL INDUSTRY & TRADE FREE ZONE 1992
9 MARDIN FREE ZONE 1994
10 SAMSUN FREE ZONE 1995
11 EUROPE FREE ZONE 1996
12 RIZE FREE ZONE 1997
13 KAYSERI FREE ZONE 1997
14 IZMIR FREE ZONE 1997
15 GAZIANTEP FREE ZONE 1998
16 TUBITAK-MRC FREE ZONE 1999
17 DENIZLI FREE ZONE 2000
18 BURSA FREE ZONE 2000
19 KOCAELI FREE ZONE 2000

Source: Ministry of Trade (link: https://www.trade.gov.tr/free-zones/general-outlook)
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/70580-2/feed/ 0 Volkswagen not seeking alternatives to site in Turkey https://www.muhasebenews.com/en/volkswagen-not-seeking-alternatives-to-site-in-turkey/ https://www.muhasebenews.com/en/volkswagen-not-seeking-alternatives-to-site-in-turkey/#respond Fri, 25 Oct 2019 11:00:43 +0000 https://www.muhasebenews.com/?p=69628 Volkswagen not seeking alternatives to site in Turkey

According to the news of Hürriyet Daily News, German automotive giant Volkswagen is not actively looking for new locations as an alternative for the production plant in Turkey, a company spokeswoman said on Oct. 22.

“We are watching developments very closely. Our plans for Turkey are currently on hold,” Leslie Bothge told Anadolu Agency.

Volkswagen Turkey Otomotiv Sanayi ve Ticaret A.S. was established early October with capital of 943.5 million Turkish liras ($164.5 million), according to the Turkish Trade Registry Gazette.

The company was founded to design, produce, assemble, sell, import and export automobiles, trucks and all sorts of motor and transport vehicles and their parts and components.

The German carmaker was expected to invest more than € 1 billion for the factory and start production in 2022.

The Volkswagen Group, established in 1937, is the owner of several vehicle brands, including Audi, Seat, Skoda, Lamborghini, Porsche, Bentley, Man, Ducati, and Scania.

Other prominent auto manufacturers -including Fiat, Ford, Hyundai, Mercedes, Renault, and Toyota -have manufacturing operations in Turkey.

Source: Hürriyet Daily News
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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