As covid-19 restrictions have eased across the world as of 2022, there is a glimmer of hope that economies could enter a slow recovery period and return to sustainable and long-term growth. Global foreign direct investment (FDI) registered a strong rebound in 2021, rising 77% to an estimated $1.65 trillion, surpassing their pre-COVID-19 level, according to UNCTAD’s Investment Trends Monitor.
In Turkey, Foreign Direct Investment increased by 290 USD Million as of March 2022, according to data from the Central Bank of the Republic of Turkey. Even though the war in Ukraine hammered international confidence and economic stability on a global scale, Turkey’s domination in terms of logistical infrastructure and ongoing investment incentives are expected to give the upper hand to the country in attracting foreign investment in the medium term.
Investment in Turkey 2022, compiled by KPMG Turkey’s Tax Practice, aims to provide general outline of the Turkish tax environment for foreign investors, reflecting developments to May 2022. The set of information contained in this publication is an introduction for the foreign investors that plan to take a look into tax and business environment in Turkey.