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Turkey Increases Withholding Tax on Capital Gains from Free Foreign Exchange Funds — Orbitax Tax News & Alerts

Turkey's Revenue Administration has announced the publication of Presidential Decree No. 2604 of 2 June 2020. The Decree provides for an increase in the withholding tax rate on capital gains from free foreign exchange funds from 10% to 15%. The Decree was published in the Official Gazette on 3 June 2020 and generally applies from that date.