“The Amendment of the Law on the Establishment and Duties of the Turkish Exporters' Assembly and the Exporters' Associations and on some Related Laws", were approved by the Grand National Assembly of Türkiye and published in the Official Gazette on November 6.
On October 14, 2021, Export Development Company (İhracatı Geliştirme A.Ş.-İGE) was established by the Turkish Exporters Assembly (TİM) and the Turkish Eximbank under the coordination of the Ministry of Trade, in order to ease Turkish exporters' access to finance. The new law grants exemption to İGE from VAT, corporate, income, and stamp duty taxes.
The law also says that earnings on activities related to the establishment and operation of new free zones will be exempted from income and corporate taxes for a period not exceeding 30 years.