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4/21/2022

Amendments in the Decree on Project Based State Aid for Investments

The minimum fixed investment amount has been increased to TL 1 billion from TL 500 million for investment projects to be subject to assessment within the scope of the decree on providing state aid to investments…

The Presidential decree amending the decree on the granting of project based state aid to investments is published in the Official Gazette dated April 21, 2022.

The minimum fixed investment amount has been increased to TL 1 billion from TL 500 million for investment projects to be subject to assessment within the scope of the decree on providing state aid to investments.

The criteria imposing the condition of an investment cost of between TL 50 million and TL 500 million for the benefiting of investment projects in the priority product list from supports within the scope of the decree and within the framework of Technology Based Industrial Move Program, has been lifted.

It has been concluded in the decree that incentives paid to investors in surplus for qualified personnel, energy and other donations shall be reclaimed with default interest and legal interest in case incentive certificates within the scope of the decree are revoked or partial sanctions are applied, by means of an amendment in article 11 titled “sanctions”.

Regulatory changes in the decree in relation with incentive certificates are put into effect as of November 26, 2016 upon being published. The article on increasing the capital requirements on the other hand will be put into effect as of July 1.

 

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