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Turkey Relaxes Export Ratio Condition for Exempting Salaries of Employees of Companies Operating in Free Zones — Orbitax Tax News & Alerts

Turkey has published Presidential Decree No 3516 of 5 February 2021 in the Official Gazette, which relaxes the export ratio that must be met by companies operating in free zones in relation to the personal income tax exemption on salaries of their employees. This includes that for 2020, at least 80% of the FOB value of goods produced by companies in free zones must be exported for the tax exemption to apply, instead of the standard 85% export ratio.