Turkey’s incentive scheme extended to include buildings and facilities

Istanbul, 3 August 2012 – Turkey’s Minister of  Economy, Zafer Caglayan, has announced an extension of Turkey’s newly introduced investment incentives including the acquisition of existing buildings or facilities. Announcing the extension, Caglayan said “The extension of the investment incentive system to cover building acquisitions will help the integration of idle buildings and facilities to our economy” saying investors will be able to deduct the expenditure on the building or facility although not the land it is on. The new practice will increase the utilisation of empty buildings and idle facilities for new investments. The extension will be available in all 6 incentive zones. The Ministry of Economy received 480 project proposals worth 3.2 billion USD since the introduction of the new incentive system on June 19, Caglayan said, adding that 340 of the submitted projects totalling 2.1 billion USD were evaluated by the Ministry and granted incentive certificates. Source: Invest in turkey“>Turkey