OrbitaxTurkey Introduces 0% Withholding Tax Rate on Interest on TRY Denominated Deposit Accounts with Inflation-Based Variable Rate
|Approved Changes|Turkey
Turkey’s Revenue Administration has announced the publication of Presidential Decree No. 1015 of 30 April 2019, which sets withholding tax rates applicable to interest on deposit account denominated in Turkish lira (TRY), including a new 0% rate for TRY deposit accounts with a variable interest rate based on inflation. The decree sets out the rates as follows:
- TRY deposit accounts with a matu…
