Turkey Gazettes Presidential Decision on Withholding Tax Incentives for Technology Development Zones, R&D, Design Centers

The Turkish Official Gazette Dec. 28 published Presidential Decision No. 8004, amending the income tax withholding tax incentive for employees working in technology development zones, or in research and development (R&D) or design centers. The decision includes measures: 1) allowing information technology (IT) employees, as specified, to spend up to 100 percent of total working hours outside the zones or centers and remain entitled to the incentive; and 2) allowing other employees to spend up to 75 percent of total working hours outside the zones or centers and remain entitled. The decision enters into force Jan. 1, 2024, and applies ...