ANKARA: Turkey’s cabinet is finalizing a comprehensive package to improve the investment climate, promising a series of regulations that will eliminate several obstacles which are faced by foreign direct investors and ease employment conditions for foreigners, Deputy Prime Minister Nurettin Canikli said June 13.
“A comprehensive package was presented to the cabinet to improve the investment climate … We are preparing to launch a quite detailed regulation which will also resolve the problems before the foreign direct investment inflow,” he said.
Canikli said the package included significant changes to the tax system. “There will be regulations that will decrease the stamp tax and other costs for the investors. In the contracts, the stamp tax and the notary fee will be charged only one copy. This is of great importance for potential investors as we will be ceasing to execute a 52-year-long practice which raises costs for investors,” he said, adding that the stamp taxes would also be refunded in the event of the cancelation of public tenders.
