NEW INCENTIVE TO SOLAR AND WIND ENERGY

New incentives came for investments in electricity generation from solar and wind energy. At least 4th Region incentives will be provided for unlicensed energy investments made by enterprises for their own consumption.

Industry and Technology Minister Mustafa Varank said that with this support package, they aim for companies to prefer renewable energy. Emphasizing that they took this decision within the framework of harmonization with the European Green Agreement, Minister Varank said, “With these supports, both carbon emissions will decrease and energy costs will decrease. Thus, the competitiveness of our investors will increase.” said.

The Decision on State Aids in Investments was amended. The amendment entered into force after being published in the Official Gazette with the signature of President Recep Tayyip Erdoğan.

THERE WAS A CUSTOMS TAX EXEMPTION WITH VAT EXCEPTION

Evaluating the decision, Minister of Industry and Technology Varank stated that investments in electricity generation from solar and wind energy are currently supported within the framework of the general incentive system and said, "We were providing VAT exemption and customs duty exemption support to these investments." said.

WILL BENEFIT FROM AT LEAST 4th REGION INCENTIVES

Noting that they made a change in the legislation in the decision published with the signature of President Erdoğan, Minister Varank said, “With this amendment, within the scope of unlicensed activity and limited to the contract power in the connection agreement, excluding the interest/profit share support for investments in electricity generation from solar and wind energy, at least in the 4th region. We open the way for you to take advantage of it. Investors will also be able to benefit from the 5th and 6th region incentives depending on the location of the investment.” said.

INSURANCE PREMIUM AND TAX DISCOUNT SUPPORT

Emphasizing that with this new regulation, investors have brought tax reductions in addition to VAT exemption and customs duty exemption, Varank said, “In addition, investors will be able to benefit from insurance premium employer share support.” he said.

COMPETITIVE POWERS WILL INCREASED

Explaining that with this revision, it has become more attractive for companies to obtain the electrical energy they need from renewable energy sources, Varank said, “We took this decision within the framework of compliance with the European Green Agreement. With our support, we will make a significant contribution to the benefit of our country from alternative energy sources and to the sustainability of our businesses.”

ADDITIONAL INCENTIVE TO THE PRODUCTION OF ELECTRIC AND HYBRID COMMERCIAL VEHICLES

The right to import duty-free automobiles granted to facilities producing automobiles of a certain capacity will also be extended for additional investments to be made by electric and hybrid commercial vehicle manufacturers. Thus, investments in new generation electric and hybrid vehicle production will accelerate.

ADDITIONAL SUPPORT TO FERRO-CHROME INVESTMENTS

If investments for ferro-chrome production, which is one of the important inputs of the iron and steel industry, are made in the 1st, 2nd and 3rd regions, they will benefit from the support of the 4th region. This will pave the way for the mines in these regions to be brought into the economy.