On 13 June 2016, Turkish Deputy Prime Minister Nurettin Canikli announced that the government is developing a tax reform package to promote foreign investment into the country. The package includes:

• Notary fees exemptions for company formation;
• Stamp Tax exemptions for transactions related to high-technology production;
• Property tax exemptions for buildings constructed and land obtained with incentive certificates for investment purposes;
• Revision to transfer pricing rules to reduce compliance costs for international companies; and
• Individual income tax exemptions for certain foreign employees working in Turkey.

The reform package must be finalized and sent to parliament for approval. Additional details will be published once available.