Turkey to Cut Exporter Taxes, Sweeten Istanbul Finance Hub Perks

Turkey will cut corporate taxes for exporters and offer new incentives to attract foreign capital, President Recep Tayyip Erdogan said Friday, outlining a package aimed at boosting competitiveness and narrowing external imbalances.

Manufacturers that also export will see their corporate tax rate reduced to 9%, while other exporters will face a 14% rate, Erdogan said. The measures mark a cut from the current 20% corporate tax level for exporters and follow an earlier Bloomberg report that Ankara was considering targeted relief for export-oriented firms.

The government will also deepen tax breaks tied to the Istanbul Financial Center, which is working ...