On 30 July 2021, Turkey’s Revenue Administration has published Presidential Decision No. 4311 in the Official Gazette extending the temporarily reduced withholding rates for deposit interests and dividends paid in return for participation accounts, to be applied to newly opened or renewing accounts.
The rate has been extended for another 2 months, valid until 30 September 2021. Previously the rate was extended until 31 July 2021. Temporary withholding rates determined in payments made to cooperatives, foundations (except fused foundations), immovable belonging to associations, immovable belonging to foreign states, foreign public administrations and organizations, international organizations without diplomatic status, and the rental of goods and rights specified in Article 70 of the Income Tax Law.
