According to the planned practice, those who invest more than 150 million Euros will not pay Corporate Tax for a period of 10 years. And in the following 5 years, the Corporate Tax will be applied with a 50 % discount.
“Tax vacation” is coming to big-scale investments, so as to attract foreign investments to Turkey and for the prevention of domestic investors from fleeing to neighboring countries.
According to the information provided by Mustafa Uysal, the Chairman of the Tax Council, the new practice intends to transform Turkey to an investment base and an investment center for foreign investors. Numerous tax incentives are being planned in this context.