07/04/2023

Update on Research and Development and Technology Region Benefits during State of Emergency

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On the 31st of March 2023, the Official Gazette published Presidential Decision 7015, which pertains to technology development and R&D regions during a state of emergency.

This decision mandates that during the state of emergency declared in the provinces affected by the earthquake starting on February 6th, 2023, the income tax withholding incentive rate applicable to the “Technology Development Zones Law” (No. 4691) and the “Supporting Research, Development, and Design Activities Law” (No. 5746) will be 100% for the entire working period for time spent outside of R&D and technology development regions.

To access the related Presidential Decision, please follow the provided link. If you have any questions or require further information, please contact your customer representative.