Turkish Republic Of Northern Cyprus

Investment Incentives Applied Under the Incentives• Exemption From Custom Duties and FundsImport of machinery and equipments concerning theproject are exempt from every kind of custom duties andfunds in accordance with Incentive Certificate. Regulationson importation of raw materials and semi-finished goods arespecified by the Prime Ministry and is subject to the approvalof the Council of Ministers.• Zero Rate VATZero rate VAT is applied for both the imported and locallypurchased machinery and equipment in accordance with theIncentive Certificate.22