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Turkey allows local businessmen transfer assets from abroad to country

Business Materials 23 May 2013 14:51 (UTC +04:00)

Azerbaijan, Baku, May 23 / Trend A.Taghiyeva /

Turkish entrepreneurs, who have property assets abroad that are not registered in Turkey, will be able to transfer their assets to the country, the Sabah newspaper reported on Thursday.

According to the newspaper, the relevant decision was made yesterday by the Turkish Parliament. Thus, entrepreneurs who have capital abroad, will be able to register it in Turkey and to transfer the assets to the country.

In addition, the state will levy taxes on capital of entrepreneurs who transferred it to Turkey, at the rate of two percent. No investigation will be held and no criminal case will be filed towards these entrepreneurs.

According to the newspaper, Turkey expects capital inflow in the amount of $25 billion from adoption of this decision.

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