Company structures, commonly used by foreign investors in Turkey, and business organizations available to foreigners, are:
Limited Liability Companies (and anonymous companies) There are two main types of legal entities: Limited Sirket (limited company) and Anonim Sirketi (anonymous company). They have the same establishment procedures such as registration with the trade registry and publication in the Trade Registry Gazette. The directors of the company and any changes in the articles of association are also published. Anonymous companies are the widely preferred types of legal entity. For banks, financial leasing companies and some other specific fields of activity, this type is required. Anonymous companies are also used to place capital with the public through the stock exchange or otherwise.
Value Added Tax (KDV) is levied on all goods and services supplied as a business activity.
Imports of goods and services are subject to tax at the customs clearing. Goods are considered movable and immovable, property and supplies are almost all business transactions. The KDV is applied on the invoice. The KDV born on purchases is credited against the KDV on sales. The balance is payable to the tax office in the following month. Certain supplies are exempt from tax, in particular the export of goods and services and the purchase and repair of air, sea and rail means of transport. International transport of goods may be exempted on a reciprocal basis.
Income earned by individuals in Turkey is subject to income tax. Regulating laws are Income Tax and Tax Procedures Law.
Turkish resident individuals are taxed on their worldwide income. The definition of Turkish residents or assumed residents has been laid in the Income Tax Law.
According to this definition; either having the residence in Turkey or, staying in Turkey more than six months in a calendar year (in 1/1.-31/12. period) is sufficient to be regarded as Turkish resident. Other individuals and so-called non-resident individuals will be subject to income tax only on earnings, income and gains earned or received in Turkey.
Olive and olive oil exports of Turkey are gradually increasing with every passing year.
Some of the countries to which Turkey exports include the United States of America, Canada, Ghana, Zimbabwe, Brazil, Argentina, Colombia, Peru and Chile. Olive grown and olive oil produced in Turkey has reached a capacity which shall meet 20% of the world’s need.
Ford Otomotiv A.S., which is the exports and domestic market leader of the Turkish automotive industry.
Having stepped into the business world in Dearborn, Michigan, on 16 June 1903, Ford Motor Company carries out car production and distribution activities in 200 markets in six continents. Ford Motor Company has approximately 224,000 employees and 110 plants worldwide. Ford, Lincoln, Mercury and Volvo are either the master or subsidiary automotive brands of the company, while Ford Motor Credit Company is its automotive-related services enterprise.
Turkey has sponsored a national stand at Fruit Logistica every year since 2000 and its representation has been organised by the Mediterranean Exporters Unions since 2004.
Turkey has been unveiled as next year’s partner country at Fruit Logistica. It is to present its largest ever presentation of companies at the German trade fair, which takes place at the Berlin Exhibition Grounds for the twentieth time on 8 -10 February, 2012.
Having stepped into the business world in Dearborn, Michigan, on 16 June 1903, Ford Motor Company carries out car production and distribution activities in 200 markets in six continents. Ford Motor Company has approximately 224,000 employees and 110 plants worldwide. Ford, Lincoln, Mercury and Volvo are either the master or subsidiary automotive brands of the company, while Ford Motor Credit Company is its automotive-related services enterprise.
Turkey has been unveiled as next year’s partner country at Fruit Logistica. It is to present its largest ever presentation of companies at the German trade fair, which takes place at the Berlin Exhibition Grounds for the twentieth time on 8 -10 February, 2012.