Turkey offers lucrative incentives for Apple Inc.

Baku. 1 September. REPORT.AZ/ Following tech giant Apple Inc. was billed 13 billion euros in unpaid taxes in Ireland, Deputy Prime Minister Şimşek tweeted, inviting the company to Turkey's more investor-welcoming environment as a substitute to the EU's overwhelming bureaucracy, Report informs referring to the Haberturk.

The country has invited U.S. tech giant Apple Inc. to move its investments to Turkey in the aftermath of the company's tax crisis with EU authorities, pointing to Turkey's new investment reforms that alleviate foreign investors' burdens in the form of subsidies and taxes.

The government has announced several economic subsidy packages to attract foreign investors. The country received $16.5 billion in foreign direct investment in 2015, which was an increase of 32 percent year-on-year.

Regarding the incentives and procedures applied to foreign investors, speaking to Daily Sabah, Arda Ermut, the president of the Investment Support and Promotion Agency of Turkey (ISPAT), said "Turkey offers lucrative incentives for investors in both the manufacturing and services sectors as well as exclusive incentives for R&D and innovation activities. Apple can benefit from these incentives in many ways and would be treated equally by local investors."