Number: 67

Date: 24/05/2020

Title:BITT rate calculated over the sales amount in foreign exchange transactions increased to 1 percent.

The banking and insurance transactions tax (BITT) rate calculated over the sales amount in foreign exchange transactions has been increased to 1 percent through the Presidential Decision no.2568 published in the Official Gazette dated 24 May 2020.

However, regarding the foreign exchange sales of banks and authorized institutions among each other or to each other, foreign exchange sales to the Ministry of Treasury and Finance, and foreign exchange sales to the debtor by the bank from which the loan is used or intermediated in the use of foreign exchange loan, foreign exchange sales to enterprises holding an industrial registry certificate, foreign exchange sales to exporters who are members of Exporters Associations; the BITT will continue to be applied as 0 (zero) percent.

The Decision has been enacted as of 24 May 2020.


Our explanations provided above include general information on the issue. No responsibility can be claimed against EY and/or Kuzey YMM ve Bağımsız Denetim A.Ş. due to the implications arising from the context of this document or emerging with respect to its context.
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