Decree No. 8860 amending the Decree on State Aid for Investments was published in Official Gazette No. 32647 of 29 August 2024.
The “Decree Amending the Decree on State Aid for Investments (Decree No: 8860)” was published in Official Gazette No. 32647 of 29 August 2024.
The Decree amends the interest or profit share support, the investments that will not be supported, and the list of machinery and equipment not eligible for the customs duty exemption, as set out in Decree No. 2012/3305.
Interest or profit share support
Under Article 11 of Decree No. 2012/3305, entitled “Interest or profit share support”, interest or profit share support may be provided on request for investments benefiting from support under the regional incentive schemes and for strategic investments.
This Decree amends Article 11 of Decree No. 2012/3305 to provide that, where incentive certificates are cancelled or a partial sanction is applied, any interest or profit share support overpaid to investors will be recovered from the investor together with interest calculated by reference to the late payment surcharge rates.
Investment areas that will not be supported or whose support is subject to conditions
Annex 4 to Decree No. 2012/3305 sets out the investment areas that will not be supported or whose support is subject to conditions.
This Decree adds “photovoltaic solar panel manufacturing investments” to the investment areas subject to conditions under heading “II/B – MANUFACTURING INDUSTRY” of that list. Accordingly, photovoltaic solar panel manufacturing investments may be supported where they are integrated with solar cells produced from the ingot slicing stage or an earlier stage of the production process, and provided the cell production capacity is not exceeded.
Newly added item:
“3 – Photovoltaic solar panel manufacturing investments may be supported where they are integrated with solar cells produced from the ingot slicing stage or an earlier stage of the production process, and provided the cell production capacity is not exceeded.”
List of machinery and equipment not eligible for the customs duty exemption
Annex 8 to Decree No. 2012/3305 contains the List of Machinery and Equipment Not Eligible for the Customs Duty Exemption. This Decree updates that list.