Tax Incentives Regarding Research & Development In Turkey

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CHAPTER NINE
Different and Final Provisions
Monitoring of cash supports
ARTICLE 24 - (1) Grants and supports derived by executor of R&D
and innovation activities from public enterprises and establishments,
foundations established pursuant to the Law and international funds
shall be monitored in a special account in accordance with the provisions
of legislation subject to support.
(2) The amounts in this special account shall not be considered
as income for determining of taxable event and as R&D expenditure
for determining of R&D deduction amount. Expenditures made from
this unsecured founds relating to where it made shall be accounted as
depreciable asset or directly as expense.
(3) In case of drawing away from enterprise or transferring to
another account except adding to the capital of this special account
in 5 years following accounting period which this account is opened,
taxes not assessed previously shall be collected from enterprise with tax
loss penalty and default interest.
(4) Recycled supports derived by executor of R&D and innovation
activities from public enterprises and establishments, foundations
established pursuant to the Law and international funds shall not be
considered in this scope.
(…)
Arrangement authority
ARTICLE 27 – (1) Presidency of Revenue Administration on taxation
and Presidency of Social Security Organization on insurance premium
support are authorities to make an arrangement on the execution.
Enforcement
ARTICLE 28 – (1) This Regulation, which is prepared by taking legal
opinion of Court of Auditors, comes into force on 01.08.2008.
Execution
ARTICLE 29 – (1) The provisions of this Regulation are jointly
executed by Minister of Finance and Minister of Industry and Trade.