Turkey: Increased withholding tax rates on income from certain financial instruments
Effective February 1, 2025
The government on February 1, 2025, increased the withholding tax rates on income from certain financial instruments such as deposit accounts, participation funds, demand deposit accounts, and bonds issued by banks.
However, the 0% withholding tax rate on income derived from Treasury bills and government bonds was extended until April 30, 2025.
For further information, please contact a KPMG tax professional in Turkey:
Hakan Güzeloğlu | hguzeloglu@kpmg.com