Turkish SMEs are buying companies in Europe. In this way they both secure cheap financing and sell their products to foreign markets. There are opportunities in the textile, automotive, telecommunications, construction, and services sectors.
A piece of news that will make sea lovers happy has emerged from the omnibus bill. Finance Minister Naci Ağbal, noting that they have made two separate arrangements in the provisions included in the bill, said: “We have abolished the annual levy on yachts. In addition, for ships and yachts that are currently foreign-flagged and will switch to the Turkish flag, we are abolishing all taxes such as customs duty, stamp duty, fees, and inheritance and transfer tax.” This arrangement will cause a revenue loss of 16 million lira, but the main aim here is to prevent boats from cruising around in Turkish marinas under foreign flags, outside of any control and supervision.
Highlights
- This record relates to the legal and commercial agenda on the Turkey-Germany axis.
- The content touches on companies' investment, market-access, or cross-border growth agenda.
We have abolished the annual levy on yachts. In addition, for ships and yachts currently under a foreign flag that will switch to the Turkish flag, we are abolishing all taxes such as customs duty, stamp duty, fees and inheritance and transfer tax
Why does it matter?
This record was migrated to the In the Press archive from press content that sat as an ordinary post within the old WordPress publications.
The related service, regional desk, focus, and sector links were reconstructed according to the legal context in the title and content.
Read the full story at its source
The full press item and the publisher’s file are available from the original source.