Regulations to watch

THE PRESIDENTIAL DEPARTMENT ESTABLISHED

The duties and responsibilities of the newly-established Participation Finance Department within the Presidential Finance office have been outlined with a Presidential Decree published in the official Gazette on February 6. The responsibilities are as follows: To develop strategies in the field of participation finance in line with policies determined by the PresidentTo monitor the implementation of decisions taken within the scope of these strategies by the relevant public institutions and organizations and to report the results to the PresidentTo Increase cooperation between public institutions and organizations, the private sector, universities and non-governmental organizations in order to improve participation finance and to ensure coordination in this fieldTo carry out national and international activities, to take part in and support such activities in order to develop participation finance and increase awareness of the channelTo conduct research aimed at strengthening Turkey’s position in international financial markets in participation finance To work on introducing new financial instruments to the system developing financial products and increasing diversity in participation finance

ARMS MANUFACTURER ASELSAN RECEIVES STATE AID

ASELSAN Konya Silah Sistemleri A.S.’s arms and weapons systems production facility investment will be supported with a customs tax exemption, VAT exemption, VAT refund, tax reduction, insurance premium employer’s share support, income tax withholding support (for 10 years), qualified personnel support (maximum TRY 25 m). With the completion of the project, with a fixed investment amount of TRY 830.7m, 168 additional people, 30 of whom will be qualified personnel, will be employed. The facility is expected to produce 1,000 weapons systems, 5,000 light caliber guns and 240 medium caliber guns annually.

LAND FOR SALE IN GAZIANTEP SEHITKAMIL FOR TRY 43.1M

Gaziantep Sehitkamil Municipality has put out a tender to sell five plots of land totaling 18,769 square meters in its district by a closed bidding method. According to the announcement published in the •fficial Gazette, the tender will be held separately for each plot on February 18 between 1:30pm and 2:30pm. The bidders must submit their documents to the municipality’s tender authority by 16:30 on February 17.

DENIZLI MUNICIPALITY SELLS LAND VALUED AT TRY 29M

Denizli Metropolitan Municipality has put out a tender to sell two plots of land in the Merkezefendi district. The two plots, one 23,503 square meters, the other 1,056 square meters, will be sold using the closed bidding method. The values of the plots are estimated at TRY 29m and TRY 2.1m, respectively. The tenders will be held on February 18 at 3:15pm and 3:25pm in the municipal council hall in the Deliklicinar service building.

GEOTHERMAL FIELD TENDER IN ERZINCAN

A geothermal resource, natural mineral water and a geothermal-based gas operating license area in Erzincan has been put to tender by the open bid procedure. The operating license for the 981.91-hectare field in the village of Mertekli, the central district of Erzincan, will be granted for three years. The estimated price of the field was determined as TRY 55,992. The tender will be held on February 24 at 10:30am in the

Erzincan Special Provincial Administration meeting room.

OIZ INFRASTRUCTURE WORK IN ELAZIG ON TENDER

Elazig 2. Organized Industrial Zone (OIZ) Entrepreneurs’ Committee will tender the infrastructure construction work of the OIZ with the sealed envelope bidding method and credit support from the Ministry of Industry and Technology. A discount will be given to the whole business, valid for unit price basis and each unit price. The estimated cost of the infrastructure construction work, consisting of road, drinking water, wastewater, storm water and electrical works of the OIZ area was determined as TRY 189.6m, according to the announcement published in the Official Gazette. The tender will be held on March 9, 2021 at 10:00am at the New Service Building of the Ministry of Industry and Technology.

SUGAR FACTORY

IN KARS TO LEASE LAND

Sugar producer Kars Seker Fabrikasi will lease land totaling 127,476 square meters located in Derin Kuyular region. The tender will be held on February 17 at 2:00pm at the Kars Sugar Factory - Meeting Hall, with the open tender procedure, if necessary, by auction and bargaining.

EMPLOYMENT SUPPORT IN FREE ZONES REDUCED

The requirement for taxpayers operating in free zones to export at least 85% of the Free On Board (FOB) price (the price until the product is transported to the ship’s deck) in order to benefit from employment support was reduced to 80% for 2020.