Bloomberg News

Turkey Plans Tax Break to Help Tech Investments, Milliyet Says

May 29, 2012

Turkey is working on a law that would provide angel investors with tax breaks to help spur Internet and technology-related projects, Milliyet reported.

The measure, being debated in the Ankara parliament’s budget committee, would absolve early investors from taxes for five years, Science, Industry and Technology Minister Nihat Ergun told the Istanbul-based newspaper. Investors must own less than half of the company to qualify for tax breaks, Ergun said, Milliyet reported.

To contact the reporter on this story: Emre Peker in Ankara at epeker2@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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