Economy of Turkey has the world’s 20th-largest nominal GDP, and 11th-largest GDP by PPP, according to data, with a population of 83.4 million as of 2021.
Parameters of Economy of Turkey:
US $744 billion (nominal 2019)
$ 2.4 trillion (PPP; in 2019)
• Per capita
GDP Growth: 2.8% (in 2018) 0.9% (in 2019)
Public Debt/GDP: 26.5% of GDP (in 2017)
Unemployment: 13.6% (in April 2020)
Inflation: 12% (in 2020)
Turkey takes the 33rd place on ease of doing business list (World Bank).
Main industries of economy of Turkey are: textiles, food processing, rock mining and processing, high tech,tourism, mining, coal, chromite, copper, boron, steel, petroleum, construction, lumber, paper, leather goods.
Turkey have signed double tax treaty with Serbia and social security agreement
What is a tax treaty?
A tax treaty is a bilateral agreement made by two countries to resolve issues involving double taxation of passive and active income of each of their respective citizens. Income tax treaties determine the amount of tax that a country can apply to a taxpayer’s income, capital, estate, or wealth. An income tax treaty is also called a Double Tax Agreement (DTA).
What is a social security agreeement?
A social security agreement or SSA is an agreement between two countries that provides social security of both countries. It is especially improtant for cross-border workers.
Do what you do the best and outsource the rest.
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Mia Rodić, CEO Tax International can advise you about investing in Serbia and represent your interest as an employer, according to function in Novi Sad economical council. Linkedin here.