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Overview

By the books: A look at laws and regulations for both corporations and individuals
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Turkey’s direct taxation system consists of two main taxes: income tax and corporate tax. An individual is subject to income tax on his income and earnings, similar to a company, which is subject to corporate tax on its income and earnings. The rules of taxation for individual income and earnings are provided in Income Tax Law 1960 (ITL), while the rules concerning the taxation of corporations are…

Overview

Reading the future: Expanding beyond national borders
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With more diversity and greater competition in its media and advertising sector than ever before – plus a wealthier population and a growing economy – Turkey has become a global leader in industry growth. The country’s steady economic expansion in recent years stands in contrast to the stagnation of many neighbouring states. European, Middle Eastern and Central Asian markets cross paths in…

Overview

Going for gold: Olympic bid sets the tone for infrastructure development in Istanbul
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The Olympics have often served as international coming-out parties for host nations with emerging economies. Games held in Japan (1964), South Korea (1988) and China (2008) showed that hosting the Olympics and Paralympics can help establish or redefine a country’s global status. Having applied for Istanbul to host the 2020 Summer Games, and becoming a candidate, Turkey has similar aspirations. “Although…

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Setting the foundation: Legislative reforms in support of the 2023 development goals
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Turkey has set ambitious goals to be reached by 2023, which represents the first centennial of the formation of the republic. Key 2023 targets include: becoming one of the top 10 economies in the world; achieving a GDP of $2trn and a per capita income of $25,000; and increasing exports to $500bn and foreign trade volume to $1trn. In addition to these goals, the Turkish government has announced targets…

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Shifting gears: Focus to be placed on creativity along with improving the legal framework
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Turkish policymakers are implementing a long-term development strategy that prioritises innovation in business, science and technology. To this end, more emphasis is being put on research and development (R&D), as demonstrated by the increase in R&D spending from .5% of GDP in 2002 to .86% of GDP in 2011. Officials project that, by the centennial of the founding of the republic, which will…

Overview

COUNTRY PROFILE:
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Emerging power: Recent changes suggest the country is set to gain greater regional and international influence Interview: Zafer Çağlayan, Minister of Economy Turning the page: Significant development has occurred over the last decade Interview: M Rifat Hisarc›klıoğlu, President, Union of Chambers and Commodity Exchanges of Turkey Interview: Hüseyin Diriöz, Ambassador and Assistant Secretary-General…
Interview

Faruk Eczacibafil, Vice-Chairman, Eczac›bafl› Holding, and Chairman, Turkish Informatics Foundation: Interview
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Interview: Faruk Eczacibafil How can IT contribute to Turkey’s effort to become one of the world’s 10 largest economies by 2023? FARUK ECZACIBAFIL: Studies conducted by the Turkish Informatics Industry Association suggest that Turkey’s growth rate could be higher than expected if both the public and private sector fully adopt information and communications technology (ICT) solutions. Some argue…
Interview

Hakam Kanafani, CEO, Türk Telekom Group: Interview
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Interview: Hakam Kanafani In your opinion, what kind of impact will fibre network expansion have on Turkey’s economic growth over the long term? HAKAM KANAFANI: Supported by a young and dynamic population, Turkey has become a rising star among European economies. This is particularly evident in the domestic telecommunications sector, which is undergoing rapid expansion and is playing a huge role…
Interview

OBG talks to Umran İnan, President, Koç University
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Interview: Umran İnan What can universities in Turkey do to increase their international standing and attract more foreign students and scholars to their campuses? UMRAN İNAN:Turkey’s higher education sector has just recently entered the internationalisation phase; however, the nation has made impressive gains in this area, especially in terms of boosting foreign student enrolment. This…