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Arçelik's incentives for 1.14-billion-dollar investments approved
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Arçelik's incentives for 1.14-billion-dollar investments approved

– Turkey Ministry of Economy Directorate of Incentive Implementation and Foreign Investment approved incentives for investments worth 1.14 billion liras in total, within modernization works for Arçelik’s seven production plants during the next four years.According to the statement of Arçelik to Public Disclosure Platform, out of the approved incentive certificates, four certificates for investments of an amount of 656.4 million liras will be for large scale investments, and eligible to second region incentives.These investments will be eligible to customs duty exemption, VAT e

– Turkey Ministry of Economy Directorate of Incentive Implementation and Foreign Investment approved incentives for investments worth 1.14 billion liras in total, within modernization works for Arçelik's seven production plants during the next four years.

According to the statement of Arçelik to Public Disclosure Platform, out of the approved incentive certificates, four certificates for investments of an amount of 656.4 million liras will be for large scale investments, and eligible to second region incentives.

These investments will be eligible to customs duty exemption, VAT exemption, and two year social security premium support for employer's share as well as a 55 percent corporate tax deduction, the statement said.

Out of the approved incentive certificates, one certificate for investments of an amount of 225.8 million liras will be a large scale investment, which is eligible to the first region incentives, the statement added.

Accordingly, the investments will be eligible to customs duty exemption, VAT exemption, two year social security premium support for employer's share and a 50 percent corporate tax deduction.

A certificate amongst approved incentives for investments of an amount of 138.9 million liras will be a large scale investment, which is eligible to the third region incentives.

In this respect, these will be eligible to customs duty exemption, VAT exemption, five year social security premium support for employer's share and a 60 percent corporate tax deduction.

Additionally, a certificate for an amount of 114.6 million lira investments will be considered as priority investment, which is eligible to the fifth region incentives, said the statement.

“In this respect, our investments for the next four years up to the sum mentioned above shall be eligible to customs duty exemption, VAT exemption, seven year social security premium support for employer's share and a 80 percent corporate tax deduction” Arçelik's announcement also underlined.

 



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