Business Tax Incentives
With continuous updates on the latest tax legislation developments and possessing the necessary expertise, KEY Business Services & Innovations helps you achieve maximum tax compliance and benefits for your business.
Through appropriate organizational techniques and accounting supervision services, KEY-BSI provides support to businesses, aiming for the most efficient and effective operation of their existing accounting systems.
For the tax year 2023, tax incentives are provided to businesses for the development of patents, as well as for advertising, green, and digital expenses.
Businesses that exploit internationally recognized patents registered in their name are exempt from income tax on the profits generated for three consecutive fiscal years.
Newly established or existing businesses that, upon their formation or an increase in their share or corporate capital, offer an internationally recognized patent from the founder, shareholder, or partner, can also benefit from the income tax exemption on these profits.
With the aim of strengthening small and medium-sized enterprises and promoting the green transition and digital transformation, an increased deduction of 100% is granted through a Joint Ministerial Decision for expenses related to the green economy, energy, and digitalization.
Beneficiaries of this increased deduction on expenses are natural persons engaged in business activities, as well as legal persons and legal entities falling into the category of small and medium-sized enterprises, who either operate in economic sectors related to the green economy, energy, and digitalization, or carry out projects or activities that contribute to their promotion.
Ineligible are small and medium-sized enterprises operating in the sectors of primary agricultural production, processing and marketing of agricultural products, and fisheries and aquaculture.
This measure will be applied for the tax years 2023, 2024, and 2025.
The tax incentive of increased deduction for advertising expenses, which concerns outdoor advertisements and advertising expenses for purchasing time or space on television, radio, cinema, the internet, newspapers, and magazines, is extended for the tax year 2023.
Provided that the specified conditions are met, the aforementioned advertising expenses are deductible from the gross income of businesses.
