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  • 01-10-20

    Turkey lowers preservation tax charges on lira deposits

    (MENAFN) On Wednesday September 30 the Official Gazette stated that Turkey has inferiority the level of preservation tax on lira bank deposits of in excess of one year to zero as of 10 percent.

    The shift aspires to defend the worth of the Turkish lira, to guarantee that savings are reserved in place and participation accounts released in Turkish lira and to give confidence the use of under-pillow reductions in these accounts.

    Official Gazette stated that the preservation tax on deposits of up to one year was slash to 3 percent as of 12 percent and the tax on puts losing of up and about to six months was cut to 5 percent as of 15 percent.

    In the meantime, the tax rates on forex deposits were not distorted.

    MENAFN0110202000450000ID1100886336

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