Being valid from 01.01.2006, with the Law numbered 5479, Article 19 of the Income Tax Law headed “Exclusion of Investment Deduction on business and agricultural earnings” has been abolished, and Temporary Article 69, attached to this Law, has arranged transition period applications. According to this;
• Exclusions which are not deductable before the date of 01.01.2006, by reason of insufficient earnings in previous years,
• Exclusions which will be calculated on account of investment expenditures which will be begun from 01.01.2006 within the context of incentive certificates based on applications submitted before the date of 24.04.2003, in investments which begun within the framework of Additional Articles1-6 of the Income Tax Law abolished previously,
• Exclusions which will be calculated on account of investment expenditures following this date, given that providing economic and technical integrity with investments began before the date of 01.01.2006 within the scope of Article 19 of Income Tax law,
can be deducted as exclusion of investment deduction.
( Income Tax Law a.19; Income Tax Law Temporary Article 61; Income Tax Law Temporary Article 65; Income Tax Law Temporary Article 69; Income Tax Circular/1; Income Tax Circular/22; Income Tax Circular/23; Income Tax Circular/32)
This document provides a general overview of tax incentives in Turkey. No rights may be derived from it.