Turkey Considering Zero Tax for Border Provinces, Sabah Says

Turkey Considering Zero Tax for Border Provinces, Sabah Says

By Steve Bryant

March 24 (Bloomberg) -- Turkish ministries are studying a proposal to cut income and corporate taxes to zero in 15 provinces with land borders to neighboring countries, Sabah newspaper said without saying where it got the information.

Foreign Trade Minister Kursad Tuzmen made the proposal to ministers in Ankara as a way of promoting business and employment in the provinces, most of which are in the east and southeast bordering Iran, Iraq and Syria, Sabah said.

Tax revenue from the 15 provinces made up about 2.4 percent of the total of 152.8 billion liras ($122 billion) collected in 2007, the newspaper said.