Istanbul: Turkish Treasury and Finance Minister Mehmet Simsek announced that Trkiye's new tax law will reduce the corporate tax rate from 25% to 12.5% for manufacturing and agricultural production sectors.
According to Bahrain News Agency, Simsek made the announcement at the 3rd Global Islamic Economy Summit in Istanbul. He highlighted that multinational companies relocating their regional or global headquarters to Trkiye will be granted a full corporate tax exemption.
Simsek also revealed a 100% tax exemption for service exports, aiming to bolster Trkiye's strategic position as an international hub for trade, finance, and investment.