Turkey to introduce new incentives for its textile industry

Turkey to introduce new incentives for its textile industry

Turkish Government recently announced a new incentive package for its textile industry, namely tax exemptions, free land allocations, 50 % support for insurance premiums and is available during 2012 only

Last year’s government approved support entailed reduced VAT rates, increasing import tax rates for fabric s and ready wear and quotas for cotton yarn. The new incentive package goes beyond these advantages and will certainly again propel the willingness of Turkish textile industrialists to invest in the state-of-the art textile machinery and equipment. This is also the reason why ITM 2013 Texpo Eurasia has been removed from 2014 to May 19 to June 1, 2013 (see also Events http://www.textile-future.com ). The organisers of the show predict that textile industrialists and new investors are planning to benefit extensively from these new incentives and this will translate into a new success for ITM exhibitors in 2013.

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