With the “Presidential Decree No. 7953” published in the Official Gazette dated 16.12.2023, the rates and amounts related to the obligation of taxpayers benefiting from R&D / Technopolis discount or technopolis earnings exemption to make venture capital investments have been redefined to be effective as of 01.01.2024. According to the said regulation;

1. The minimum discount/exemption amount utilized on the annual declaration used to determine the taxpayers covered by the application has been increased from TRY 1,000,000 to TRY 2,000,000,
2. The rate used in determining the investment to be made has been increased from 2% to 3% of the discount/exemption amount utilized over the annual declaration,
3. YThe maximum limit for the annual investment obligation was increased from TL 20,000,000 to TL 100,000,000.

The effective date of the above-mentioned new regulation has been determined as 01.01.2024 and the aforementioned rates and limits will be applied for the R&D and design discounts and technopolis earnings exemptions in the 2023 corporate tax returns that must be submitted until 30.04.2024.

Until 31.12.2024, you are required to transfer 3% of the amount under the heading “Discounts arising from R&D and Design Activities and Corporate Earnings Provided in Technology Development Zones” in the Corporate Tax Declaration to Venture Capital Funds.