Amendments Made To Incentives

IN ONE OF ITS LAST DECISIONS TAKEN IMMEDIATELY BEFORE THE ELECTION, THE TURKISH CABINET MADE AMENDMENTS TO THE INCENTIVE SYSTEM.

In one of its last decisions taken immediately before the election, the Turkish Cabinet made amendments to the incentive system. The decree that was promulgated in the Official Gazette modifies a definition in the section titled ” Industries to Receive Regional Supports, and Minimum Investment Amounts or Capacities as per Regions.”

The definition of industry code 39 which was “Manufacture of furniture (excluding those made only of plastic)” was modified with the decree. The new definition is “Manufacture of furniture (excluding those made only of plastic), manufacture of musical instruments, manufacture of sporting goods, manufacture of games and toys, manufacture of pens, and manufacture of baby carriages and strollers, and their parts and accessories.” In the table entitled “Sector Numbers to Receive Regional Incentives”, industry number 40 (plastic furniture) which was included in the lines of the first five regions is now excluded from the scope of incentive. The amendment made to the same section, adds industry number 39 (Manufacture of furniture excluding those made only of plastic) in the scope of incentive for all the provinces in the first five regions. Thus, with the aforementioned definition change, musical instruments, sporting goods, toys, pens, baby carriages and strollers are now added to the list of industries that are eligible for incentive.

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