Tax Evaders Hiding $130 Billion Courted by Yields: Turkey Credit
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Turkey is betting a no-questions-asked policy and some of the highest yields in emerging markets will help persuade tax evaders to repatriate an estimated $130 billion hidden abroad.
Turkey’s government is asking lawmakers to approve a plan giving amnesty to individuals and companies for repatriating assets, according to a bill sent to parliament on April 24. Funds brought into the country will be taxed at a rate of 2 percent, with no questions asked about how the money was earned, the draft says.