Pursuant to the provisions of the Decree on Branding Supports for Service Sectors Earning Foreign Exchange, which was put into effect with the Presidential Decision dated 18 May 2020 and numbered 2564, the procedures and principles regarding the branding support to be applied to the cooperation organizations established in Turkey and companies, institutions and organizations operating in the service sector that earns foreign currency are determined.
With the decision ("Decision") that entered into force by being published in Official Gazette dated 21 April 2022 and numbered 31816, an additional regulation was made regarding these procedures and principles.
In this context, the following regulations have been brought into effect:
- The rates for advertising, promotion and marketing expenses, consultancy expenses, market research work and support expenses to be realized by the cooperation organizations in order to promote the service sectors that fall within their field of activity in foreign markets, have been converted to TRY from USD.
- With the 5th article of the Decision, amendments were made regarding the extent and amount of the expenses incurred by the beneficiaries included in the Brand Support Program and the companies / organizations authorized to spend. The said rates have been converted to TRY from USD.
- Furthermore, pursuant to article 6 of the Decision, regulations have been introduced regarding the expenses to be incurred by the beneficiaries included in the TURQUALITY Support Program and the companies / organizations authorized to spend on their brands. The said rates have been converted to TRY from USD.
You may find the full text of the Presidential Decree Amending the Decision on Branding Supports for Service Sectors Earning Foreign Exchange at this link. (Only available in Turkish)
Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven.
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