Turkey: Reduction in stamp duty, deed fees and RUSF rates

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The Decree 2017/9973 was published in the official gazette on 15th March 2017 that reduces stamp duty, deed fees and Resource Utilization Support Fund (RUSF) rates on certain transactions. The Decree entered into force on the day of its publication. The new rates apply as from 15th March 2017. The stamp duty rate has been reduced to 0% from 0.948% for contracts with land owners putting land at the disposal of contractors and obtaining a certain percentage of a building in return or revenue sharing construction works, contracts related to building inspection, counseling service contracts for construction works or revenue sharing business models, counseling service contracts for construction works or revenue sharing business models. The deed fee rate has been reduced to 1.5% from 2% for houses and offices. RUSF rates are set at one per cent (for loans with a maturity of up to 1 year) and zero per cent (for loans with a maturity of more than 1 year) on TRY loans received from abroad by residents in Turkey.

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