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Turkey Further Extends Reduced Withholding for TRY Denominated Accounts and Other Instruments — Orbitax Tax News & Alerts

Turkey's Revenue Administration has announced the publication of Presidential Decision No. 4561 of 30 September 2021, which provides for a further extension of the reduced withholding tax rates applicable to interest on deposit accounts denominated in Turkish lira (TRY). Previously extended to 30 September 2021, the reduced rates now apply until 31 December 2021. Decision No. 4561 also extends to 31 December 2021 the reduced withholding tax rates on income from bank bonds, and bills and lease certificates issued by asset leasing companies for which the fund user is a bank.