Free trade zones in general; can be defined as places where the legal and administrative regulations regarding the commercial, financial and economic fields valid in the country are not implemented or partially applied, wider incentives for industrial and commercial activities are recognized and physically separated from other parts of the country. The main objectives in the establishment and operation of free zones in the Free Zones Law No. 3218; encouraging export-oriented investment and production, accelerating foreign direct investments and technology entry, directing businesses to export and developing international trade.
There are currently 19 free trade zones established in Turkey. It is possible to operate in free zones, provided that a license is obtained from the Ministry of Economy. Provisions regarding customs and foreign exchange liability are also not applied in these regions. Goods used in investment and facility phases in free zones, goods brought for expansion and capacity increase, goods brought for maintenance and repair purposes that do not belong to the user, tools, equipment and equipment temporarily brought to the zones, goods brought for contract manufacturing purposes, 6/2/2004 Goods brought to the region from abroad and/or exported to Turkey from the region by users other than the manufacturer users, who obtained an operating license after the date of the date, are not subject to a fee. Trade in these regions is subject to foreign trade provisions. It is also allowed to employ foreign managers and qualified personnel in the workplaces that will operate in these regions. Transactions and papers issued in relation to the activities carried out in these regions are exempt from stamp duty and fees.
Moreover, the advantages of free trade zones can be summarized as follows: Manufacturing companies are completely exempted from corporate tax. Special regions are exempt from VAT and excise taxes, and even property tax. In the purchase and sale of property, the title deed fee is not paid. Income and corporate tax exemptions are applied to certain logistics services to be provided from Free Zones, all of which are abroad. In addition, companies that export at least 85% of the value of the products they produce in free zones are completely exempt from income tax on employee wages. Goods can be held in these zones without time limit. Companies can freely transfer the profits obtained from free zones abroad or to Turkey without any restrictions.
Tos um up, a free trade zone was established to gather investors in Turkey, to provide technology access to Turkey and to develop international trade. It is a special economic zone where broad incentives and advantages are offered for industrial and commercial activities.
Ünal § Partners Legal Team
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