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An overview by Centrum, Taxand Turkey
The Turkish Government has recently implemented new withholding tax changes through Presidential Decree No. 8775. The previous 0% withholding tax on currency-protected accounts has been discontinued, rates have been updated to 7.5% for accounts with terms up to 6 months and 5% for terms up to 1 year.
Additionally, the periods for reduced withholding tax rates on certain income types have been extended to October 31, 2024. These adjustments apply to interest, dividends, and gains from various securities and deposits.
Experts from our Turkish member firm Centrum have analysed these changes in more detail here.
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