Turkey will introduce tax incentives for new residents
Turkey has announced significant tax incentives for foreigners and new tax residents moving to the country.
President Recep Tayyip Erdogan stated that individuals who have not been tax residents in Turkey for the past three years and decide to move there will receive significant benefits.
Under the announced terms, for 20 years they will be exempt from paying taxes in Turkey on income received from foreign sources, as well as on capital gains.
In this way, the country’s authorities hope to attract wealthy investors and specialists by creating a more attractive tax regime for long-term relocation.
Earlier, the Chinese Ministry of Finance, together with the General Administration of Customs and the State Taxation Administration, announced tax incentives for the import of goods aimed at developing and promoting science and technology. This initiative is important for supporting science and technology museums and natural history museums, which will be able to take advantage of these preferential measures.
Meanwhile, the White House is returning to a policy of maximum sanctions pressure on the energy sectors of Russia and Iran. U.S. Treasury Secretary Scott Bessent confirmed that the Donald Trump administration will not renew special licenses that allowed limited trade in sanctioned oil.
