p> Policies to develop the economic base of the TRNC, attaches great importance to strengthening the private sector by attracting foreign investment. To achieve this, the government created a number of enabling conditions. For a number of areas of priority, the so-called acts of electoral system of credits.
p> The government is actively engaging and widely promotes foreign investment in the economy, providing numerous incentives and tax exemptions. Among the incentives for investment are:
- emphyteusis on favorable terms.
- tax exemption on imports of imported materials and equipment.
- Government involvement in providing charter coverage of risks.
- Covering the expenses for promotional products, up to 75% of the amount consumed.
- Exemption from income and corporate tax for up to 10 years for companies in the tourism sector.
- For public companies, with more than 50 shareholders, tax exemption can be renewed.
- Guaranteed transfer abroad the annual return on equity and defined-benefit scheme for foreign loans.
- objects, working in tourism and hotels, can be written off from taxable income 20% of annual profits earned in foreign currency.
- Free sale or transfer of its stake in the company or organization to third parties.
- free export of capital and profits.
- Businesses and organizations are entitled to recruit skilled workers from abroad, provided that the local labor market is not able to provide professional qualifications.
- remittances abroad is not limited staff.
- Exemption from payment of registration fees for a building permit.
- Travel expenses related to advertising and marketing, as well as all costs directly related to advertising and marketing, are deducted from taxable income.
p>