Technoparks, which can also be called Technology Development Zones, bring many advantages for companies that carry out R&D studies in the field of technology, and the number of companies benefiting from these advantages is increasing. But what is this Technopark and what advantages does it have? In this article, we have examined the Technopark tax advantages for you.
What is a Technology Development Zone?
It is the legal name of Technoparks in our country. Established under the provisions of the “Law No. 4961 on Technology Development Zones”, these zones are organizations that provide various tax exemptions, are established to enable their representatives to carry out R&D studies, are generally located within a university campus, are designed in a structure that encourages the formation of technology-based companies and enterprises and supports their growth and development, and whose management provides technology and management support to the relevant companies.
Who can use Technoparks?
You must have a project based on R&D and innovation. This project is prepared and submitted within the framework of the guidelines prepared by Technopark administrations. You do not have to have established a company for application. You can apply as an individual and establish your company when your project is accepted.
What are the Technopark tax advantages that Technoparks provide to businesses and investors?
Income Tax Exemption for Personnel
R&D personnel you employ (support, software, design, etc.) are exempt from taxes (income tax, stamp tax).
SSI Employer Premium Support for Personnel
Incentives can be applied in the form of insurance premium employer’s share support for the R&D personnel you employ.
Customs Duty Exemption
Customs duty is not paid for all kinds of goods imported within the scope of the project to be used in research and development.
Income and Corporate Tax Exemption
You benefit from the income and corporate tax exemption that should be calculated for income from R&D, software and design-based production activities, and you do not pay these taxes.
VAT Exemption
According to the Technopark Law, software produced by entrepreneurs operating in Technology Development Zones is exempt from VAT during the period when their earnings are exempt from Income or Corporate Tax.
There are also tax advantages for those who invest in companies in Technoparks. Namely
For the capital supports (investments) provided to Teknokent enterprises, a portion not exceeding 10% of the declared income or corporate income and 20% of the equity capital can be deducted from the declarations in determining the declared income and corporate income.
