Turkey has published Law No. 7263 of 28 January 2021 in the Official Gazette. The law provides for the amendment and the extension of incentives provided for enterprises operating in technology development zones (TDZs).
One of the main changes is that with effect from 1 January 2022, TDZ enterprises with earnings (profits) of at least TRY 1 million are required to record 2% of their earnings that are exempted from tax in a special fund account, up to a cap of TRY 20 million per year. Such a…