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7 Marzo 2018

Turchia

TURKISH GOV'T ANNOUNCES NEW SUPPORT PROGRAM FOR SME'S

Prime Minister Binali Yıldırım announced a new support program for small and medium sized enterprises (SMEs) and assessed the value-added taxes (VATs) to be paid back to the enterprises in accordance with the new draft law. Speaking at the fifth SME and Entrepreneurship Awards Ceremony held at the helm of the Small and Medium Enterprises Development Organization (KOSGEB), Yıldırım said that a total of 9,631 new companies were established across Turkey in January 2018, 61 percent more compared to the previous month. Underlining that SMEs are the "unsung heroes" of Turkey, Yıldırım noted that such enterprises constitute 56 percent of the country's overall employment. Referring to the fact that more than 99 percent of enterprises in Turkey are SMEs, he said, "You fulfill a large portion of Turkey's production, employment and exports. One of the two structures that localize the investments that contribute to the development of the industry in our country is KOSGEB and the other is organized industrial zones. We have made important decisions about nationalization and localization with a circular we have issued recently." Pointing out that KOSGEB is one of the pioneering organizations in economic life, production, and employment, Yıldırım emphasized that the development of entrepreneurship culture and the increase of competitiveness of SMEs are priority targets of the government. Yıldırım continued, "The definition of SMEs is changing. In order for more entrepreneurs to take advantage of incentives, we will upgrade the upper limit to TL 125 million from TL 40 million currently." "Moreover, we will provide certain amounts of non repayable incentives to enable enterprises to produce value-added products with other programs," he added. The SME Techno Investment and Strategic Product Support Program, which was announced by Yıldırım during a parliamentary group meeting in October, will support enterprises to be able to produce products with high value added and a high technology level. Touching on the VAT draft law that has been sent to Parliament, Yıldırım noted, "We are radically changing the 33-year VAT law. Actually, this is not a change, but a reform." According to the draft law, the state will repay the accumulated VATs to enterprises in line with a certain schedule. If VATs are not paid within three months from now on, the state will pay interest for the unpaid time. Source: Daily Sabah Elaboration: Esra Ateş Contact: istanbul@ice.it  (ICE ISTANBUL)