On 31 December 2021, Turkey has published Presidential Decision No. 5046 in Official Gazette. Accordingly, Turkey has set 0% withholding tax will be applicable on income from certain TRY deposit accounts and participation accounts.
As of 28 December 2021, the rate is applicable for the income resulting from deposit accounts or participation accounts converted into TRY accounts or TRY participation accounts from gold deposit accounts or gold participation accounts, and TRY deposit accounts and participation accounts converted from gold deposit accounts or gold participation accounts opened from 28 December 2021.
