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Turkey’s tax incentives for new technoparks

Posted on 14 October 2011

14 October 2011,  Istanbul – Speaking at IBM’s Software Summit in Istanbul, Nihat Ergun, Turkey’s Minister of Industry, Science and Technology, described Turkey’s “Silicon Valley” vision. Turkey is to build technoparks which will be exclusively for high tech companies engaged in telecoms, software development, ecosystems and technical R&D, the first one will be constructed in Kocaeli in NW Turkey. The technoparks will have special incentives including free or low cost land, corporate and income tax exemption until the 2023, (the year of the centennial), lower employer’s social security premium on research personnel and zero income tax on researchers. There will also be exemption of stamp tax and VAT for up to 12 years with other special incentives, for example no fees on waste water treatment. Source: Invest in Turkey

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