OrbitaxTurkey Reduces Transactions Tax on Foreign Exchange and Withholding Tax on Interest on TRY Denominated Deposit Accounts
|Approved Changes|Turkey
Turkey's Revenue Administration has announced the publication of Decision No. 3031 and Decision No. 3032 in the Official Gazette on 30 September 2020.
Decision No. 3031 provides for a reduction in the banking and insurance transactions tax on foreign exchange transactions from 1.0% to 0.2%.
Decision No. 3032 provides for an overall reduction in the withholding tax rates applicable to intere…
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