The Presidential Decision raises withholding tax rates on income from TRY-denominated deposit and participation accounts and mutual funds.
Turkey’s Revenue Administration has announced Presidential Decision No. 10041 on 8 July 2025, which increases withholding tax rates on income from Turkish lira (TRY)-denominated deposit and participation accounts and mutual funds, effective from 9 July 2025.
Under the new rates, the withholding tax on income from accounts with a maturity of up to 6 months rises from 15.0% to 17.5%, and for accounts with maturities over 6 months up to 1 year, from 12.0% to 15.0%. The 10.0% rate remains unchanged for accounts with maturities exceeding one year. These changes apply to accounts opened or renewed from the effective date.
Additionally, the withholding tax on income from mutual (investment) funds is raised to 17.5% for fund participation shares acquired from 9 July 2025.
However, the 0% rate continues to apply to income from participation shares in equity-intensive funds, venture capital investment funds, and real estate investment funds, provided they are held for more than two years.
