JSC Akkuyu Nuclear, a JSC REIN subsidiary charged with implementing the construction of Turkey’s Akkuyu Nuclear Power Plant, has been designated strategic investor.
A renewed "Strategic Investment" certificate was issued to JSC Akkuyu Nuclear following the company’s submission of an application to Turkey’s Ministry of Economy. The certificate was issued on the basis of the Law on “On amendments to the law on taxation, certain laws and regulations in the status of law”, which came into force on 27 March 2018 after being approved by the Turkish parliament, the Mejlis.
Granting of the certificate is of major importance for the economics of the project. In particular, it provides for tax reductions and exemptions (including from income tax and value added tax), as well as custom duties exemption.
"[JSC Akkuyu Nuclear’s] preferential status will positively affect the overall economic efficiency of the project, which in turn will contribute to the growth of the company's attractiveness for Turkish and international investors," said JSC REIN CEO Anastasia Zoteeva.
Date: Apr 2, 2018