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02 February 2017

New type of work permits in Turkey: Turquoise Card and International Labour Law

The Law on International Labor Force which came into force on August 13, contains important changes for work permits system in Turkey for foreigners. The new law regulates foreigners’ entry into the Turkish labor market in a more extensive and disciplined way. Although there is no significant change in terms of work permit/visa procedures, some flexibilities for specific categories of professions are introduced in different sections of the new law.

26 January 2017

Project Based Incentives for the investments in Turkey

Turkey’s Parliament has enacted a Law on Supporting Project Based Investments. The Law has been published in the Official Gazette. The Law has authorized the Council of Ministers to grant incentives for project-based investments. A decision from Council of Ministers regarding project based investments has been published in the Official Gazette. The decision has clarified the principles and procedures regarding project-based incentives.

22 November 2016

‘New generation’ Trade Agreement with EU on the horizon

Upon the question regarding the ongoing negotiations between USA and European Union with respect to Transatlantic Trade and Investment Partnership (TTIP) and its possible ramifications for Turkey; Deputy Prime Minister Mehmet Şimşek contended that the ultimate finalization of the aforementioned treaty might be delayed due to European Elections slated for the next year. On the other hand, by pointing out that they have already launched the procedures to further Customs Union and ultimately ink a ‘new generation trade agreement’, Şimşek declared that the negotiations between Turkey and EU in this regard will start by 2017.

14 November 2016

Delay in secondary legislation holds potential investments worth billions

Industrialists are reported to have postponed their investment projects due to the delay in the enactment of the necessary secondary legislation of East and Southeast Anatolia Investment and Support Initiative, an ambitious investment incentive package tailored specifically for 23 eastern cities economically lagging behind the national average and declared by Prime Minister Binali Yıldırım back in early September 2016.

23 June 2016

A Seminar for ECO Countries Held in Ankara

A technical and educative seminar on the methods and essentials of the heavily employed ‘risk based analysis method’ was jointly carried out by the Presidencies of Revenue Administration and Tax Inspection Board with the participation of ECO(Economic Cooperation Organization) Secretariat and officials from member countries such as Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan and Pakistan tax authorities between 24-26 May, 2016 in capital Ankara.