This “Tax Guide to Doing Business in Turkey”, written in collaboration with Crowe Troy, aims to assist individuals and organizations wishing to invest in Turkey by providing information on the tax environment in the country, which has progressed in an investor-friendly fashion in recent years thanks to the reforms implemented. The guide consists of information on a variety of taxation topics that investors take into consideration during the investment process.
Turkey is a dynamic and growing G20 economy that links the east and the west in a unique way. In addition to being one of the world’s fastest-growing economies, Turkey also supports international investors’ growth via a business-friendly agenda and through access to a large domestic market and neighboring international markets. Strong market fundamentals, such as a young and dynamic population with an average age of 32, a well-educated workforce, increasing rates of employment over the years, a growing middle- class, and a unique geographical location have all helped transform Turkey into one of the fastest-growing OECD member countries. As of the end-2018, Turkey is the 13th largest economy in the world (GDP at PPP), with an average annual growth rate of 5.5 percent in the 2003- 2018 period.
Turkey’s location, at the crossroads of Europe, Central Asia, and the Middle East, provides easy access to the European, Middle Eastern, North African, Central Asian, and Gulf markets. These markets comprise more than 1.6 billion people and account for a total GDP of USD 28 trillion. More than half of the world’s trade takes place within a four-hour flight radius of Turkey – a key reason why multinational companies have chosen Turkey as a strategic regional hub for their operations.