November 20, 2019 / 2:23 PM / 2 months ago

Turkey introduces tax incentive for foreign buyers of lira bonds

ANKARA, Nov 20 (Reuters) - Turkey introduced a tax incentive for foreign buyers of Turkish lira-denominated bonds with the aim of increasing the volume and liquidity of such transactions, a bill published on the Official Gazette showed on Wednesday.

The move will allow foreign buyers to use an omnibus account with the Central Securities Depository of the Turkish capital markets (MKK), and withholding tax will not be applied to these accounts, according to the bill.

Reporting by Nevzat Devranoglu Writing by Ece Toksabay Editing by Dominic Evans

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