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FinancialNews


  • 01-09-18

    Turkey raises ratio of withholding tax on foreign currency deposits

    (MENAFN) Turkey was announced to have raised the ratio of withholding tax on foreign currency deposit accounts.

    Turkey was also unveiled to have reduced taxes on Turkish lira savings, as part of its efforts to stabilize its currency.

    The country has increased the withholding tax on foreign currency deposits of up to six months to 20 percent from the previous 18 percent.

    The country also imposed a boost in the deposits of up to one year from 15 percent to 16 percent, based on a decree law the Official Gazette released.

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