• Tue. Nov 29th, 2022

The Investment Office publishes a guide

ByKeith M. Jones

Apr 20, 2022
ANKARA

The Presidential Investment Office and the global professional services network PwC have prepared a guide for foreign investors. The guide offers 10 pieces of information ranging from taxes to incentives for building a business in Turkey.

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“Based on conversations with hundreds of overseas business leaders seeking to create [their businesses] in Turkey, and their combined experience, the Investment Office and PwC have identified 10 key questions to which this guide seeks to provide initial answers,” the authors said.

Burak Dağlıoğlu, Head of the Investments Office, said the guide “provides a clear view of Turkey’s tax system for international investors, as well as companies, individuals and business executives who want to invest, work or do business. in Turkey. .”

“I would like to recall that the legal environment in Turkey has evolved in an investor-friendly way in recent years, thanks to the reforms implemented, especially in the tax and judicial system,” he added.

While the economy has achieved an average annual GDP growth rate of 5.4% over the past two decades, Turkey has attracted nearly $240 billion in foreign direct investment (FDI). With its FDI strategy for 2021-2023, Turkey aims to increase its share in global FDI from 1% to 1.5% by 2023.

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Turkish and foreign companies are taxed only on the profits generated by the companies they operate in Turkey. The profits of companies operating abroad are not taxable in the country.