On 30 June 2008, Government Emergency Ordinance 91 was published in the Official Gazette No. 480 amending the Fiscal Code. The amendments enter into force as of 1 January 2009. The major changes are described below.
Withholding tax on dividends
The withholding tax rate on dividends distributed to non-resident companies will be reduced to 10% (currently 16%).
The amendment addresses the discrimination issues raised by the European Comm…