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Turkey revises tax rate for certain financial instruments

|Tax Alerts, Legislation & Policy, Na ...|Turkey
Turkey

  • The Turkish Revenue Administration issued a Letter on 21 May 2020 confirming that non-physical gold sales will be considered foreign exchange (FX) transactions and gold sales without physical delivery will be subject to a 1% Banking and Insurance Transaction Tax (BITT) over the sales amount as of 24 May 2020.
  • In accordance with Presidential Decision No. 2604, published in the Official Gazette

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