Export Incentives in Turkey
The export sector has exceptional importance in Turkey, as it is considered the main economic engine of the country and the almost only source of foreign currencies considering the shortage of oil and gas resources. According to 2018 statistics issued by the World Trade Organization, Turkey’s major product importers are:
Cars and vehicles 26.76 billion US dollars
Industrial equipment: 15.83 billion USD
Steel and iron: 11.58 billion US dollars
Textile and garment industries $ 9.05 billion
Electrical tools: $ 8.73 billion
Rare stones and pearls: $ 7.17 billion
Articles of steel and steel 6.55 billion US dollars
And a long and almost endless list of industrial, agricultural, animal, and other exports. Germany occupies the list of countries importing from Turkey, as Turkey’s exports to Germany in 2019 amounted to 16.62 billion US dollars, equivalent to 9.2% of Turkish exports to the world. It was followed by Britain, Iraq, Italy, and America, which ranked fifth among the countries importing from Turkey.
Turkey’s exports are achieving unprecedented records year after year thanks to the export stimulus policy, as Turkey is undoubtedly the country of exports.
The incentive policy for exports in Turkey includes a package of exemptions and government financial support, which are as follows:
Internal support program: It includes support in several forms
Purchases for re-exportation are exempt from customs tax.
Refund of value-added tax paid on purchases for re-exportation.
Restoration of the consumption fee.
Tax stamp reimbursement.
Exemption from the export quota system.
Support system for companies abroad
Support of up to 60% of the rentals of showrooms and warehouses that companies establish abroad for Turkish brands.
• Support of up to 50% of corporate expenses, specifically rents, advertising, and advertising. • Corporate events and exhibitions and development programs to support Turkish companies abroad.
Marketing studies and market entry support
Support of up to 70% of the expenses for trips to study international markets.
Supporting Turkish companies in international markets
Support amounting to a total of $ 650,000 to support Turkish companies to enable them to compete in international markets.
Supporting advertising, marketing, advertising, and other events related to the marketing of the Turkish product brand abroad.
Support for services exports
Support between 50% -80% of company registration fees, consultations, commissions and other expenses.
Technical recognition support
Support of up to 50% of the expenses for certificates and documents necessary to enable Turkish companies to enter international markets.
International supply support
Supporting a maximum of one million US dollars for two years and 50% of some expenses for any company that becomes a major supplier to one of the international companies.
Free Zones in Turkey:
Free zones in Turkey are one of the most important export incentives for companies, as they provide the following exemptions:
Exemption from value-added tax.
Exemption from customs duties.
Exemption from income tax for companies operating in the free zone.
Exemption of employees from income tax under certain conditions.
Exemption from stamp duty.
Exemption from real estate tax.
Permission to import used machinery.
And Turkish exports achieved a historical record in December 2020, reaching 17.85 billion US dollars.
Do you want to establish a company in Turkey and get support for exports abroad?
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