background image
Turkey Publishes Law Supporting Exporters — Orbitax Tax News & Alerts

Turkey published Law No. 7341 in the Official Gazette on 6 November 2021, providing various amendments in support of exporters. This includes an amendment to the Free Zone Law of 1985 that adds an additional article providing an income tax exemption for free-zone operators. The exemption is provided for free zones that become operational for the first time after the effective date of the new article (after 6 November 2021). The exemption is allowed for a maximum of 30 years, limited to the period specified in the first operating license granted by the Ministry of Commerce. Law No. 7341 also provides incentives for institutions established exclusively for providing export credit guarantees for exports. This includes that guarantee transactions are exempt from stamp duty and VAT, and transactions related to credits, guarantees, and repayments are exempt from related fees, except for judicial fees.