OrbitaxTurkey Extends Reduced Withholding for TRY Denominated Accounts and Other Instruments and Abolishes Withholding on Gains from Foreign Exchange Funds
|Approved Changes|Turkey
Turkey's Revenue Administration has announced the publication of Decision No. 3321 of 22 December 2020, which provides for an extension of the reduced withholding tax rates applicable to interest on deposit accounts denominated in Turkish lira (TRY). Previously scheduled to expire on 31 December 2020, the reduced rates now apply until 31 March 2021 as follows:
- TRY deposit accounts with a matu…
