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Turkey Sets 2026 as Reform Year, Outlines Economic Overhaul Plan
(MENAFN) Türkiye has declared 2026 the “year of reforms,” with Treasury and Finance Minister Mehmet Simsek outlining an extensive structural reform program aimed at reshaping the country’s economic and industrial landscape, according to reports.
Speaking at the “Powerhouse for Investment in the Türkiye Century” press conference in Ankara on Monday, Simsek detailed measures announced last week by President Recep Tayyip Erdogan, focusing on industrial transformation, higher value-added production, green and digital transitions, productivity-focused investment, and infrastructure development, particularly in railways.
He said the new investment framework is designed to increase exports of goods and services, encourage the return of capital held abroad, and incentivize domestic and foreign investors to base their operations in Türkiye. He also highlighted efforts to strengthen the role of the Istanbul Finance Center as a regional financial hub.
Simsek noted that one of the key measures introduces a full corporate income tax exemption on transit trade for companies operating within the Istanbul Financial Center. He added that firms outside designated financial sectors will also benefit from a 95% exemption on transit trade activities.
The minister said the government aims to develop a competitive merchanting ecosystem similar to those in financial hubs such as Singapore and Hong Kong, emphasizing Türkiye’s strategic position along key global trade corridors.
He further explained that previous incentives introduced under the Istanbul Finance Center framework in 2009, which offered a 50% tax exemption, have now been significantly expanded to a full 100% exemption under the new package.
Speaking at the “Powerhouse for Investment in the Türkiye Century” press conference in Ankara on Monday, Simsek detailed measures announced last week by President Recep Tayyip Erdogan, focusing on industrial transformation, higher value-added production, green and digital transitions, productivity-focused investment, and infrastructure development, particularly in railways.
He said the new investment framework is designed to increase exports of goods and services, encourage the return of capital held abroad, and incentivize domestic and foreign investors to base their operations in Türkiye. He also highlighted efforts to strengthen the role of the Istanbul Finance Center as a regional financial hub.
Simsek noted that one of the key measures introduces a full corporate income tax exemption on transit trade for companies operating within the Istanbul Financial Center. He added that firms outside designated financial sectors will also benefit from a 95% exemption on transit trade activities.
The minister said the government aims to develop a competitive merchanting ecosystem similar to those in financial hubs such as Singapore and Hong Kong, emphasizing Türkiye’s strategic position along key global trade corridors.
He further explained that previous incentives introduced under the Istanbul Finance Center framework in 2009, which offered a 50% tax exemption, have now been significantly expanded to a full 100% exemption under the new package.
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