FT.com / World / Europe
"Turkey to scrap tax for foreign investors
Michael Kuser in Istanbul
Published: June 22 2006 12:11 | Last updated: June 22 2006 12:11
Turkey will lift the 15 per cent withholding tax it imposes on foreign investors, with effective legislation expected to be passed by the Turkish parliament before it recesses at the end of June, Kemal Unakitan, the country’s finance minister, said on Thursday.
The move will bring Turkey in line with European Union norms on domicile and residence rules on taxation of individuals, Mr Unakitan told reporters at a joint press conference in Ankara with Ali Babacan, Turkey’s economy minister and chief EU negotiator."
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