Companies with investment incentive certificates for electric motor vehicles developed in Turkey will receive investment contribution amounts as excise tax (SCT) deduction.

After its publication in the Official Gazette, the “Amendment Statement of the General Statement of Corporation Tax” prepared by the Ministry of Finance entered into force.

Accordingly, the principles regarding the deduction of investment contribution amounts of companies producing electric vehicles in Turkey to SCT have been determined.

MINIMUM 5 BILLION TL

It was considered appropriate to allocate the determined part of the amount of the investment contribution to a maximum of 960 thousand vehicles until December 31, 2035, discounting the SCT paid for the first acquisition of the vehicles produced within the scope of this investment.

For the amount of the investment contribution to be used as a deduction against the SCT, the investments have the quality of an investment that is decided to benefit from project-based incentives, it is exclusively for electric motor vehicles developed as a result of I activities. +D. carried out in Turkey in order to develop technologies that completely eliminate the emission of greenhouse gases.

On the other hand, with the change in the statement, the indexation principles in the partial termination process in the investment incentive system were also determined.

In the relevant article of the Decision on Granting State Aid to Project-Based Investments, it was stipulated that a partial completion process can be carried out after a minimum investment of TL 5 billion has been made for investments with a period of Minimum investment of 10 years and consisting of phases that guarantee integration.

With the Communiqué, it was regulated that the amount of the investment contribution after the partial completion process can be indexed by increasing the revaluation rate in investments that are project-based, consist of phases and have a minimum investment expense of 5 billion from TL. (AA)