Number: 97

Date: 30/09/2020

Title:

Withholding rates on deposit interest and dividends paid by participation banks temporarily reduced.


Withholding rates on the interest obtained from Turkish Lira deposit accounts and the dividends paid to participation accounts by participation banks have been temporarily reduced through the Presidential Decision no.3032 published in the Official Gazette dated 30 September 2020.

Accordingly, withholding rates of 5%, 3% and 0% depending on the maturity will be applied on the interest obtained from Turkish Lira deposit accounts and the dividends paid by participation banks in return for a TL participation account.

The new rates will be applied to interest and dividends to be paid to demand and special current accounts until 31 December 2020 (including this date) and interest and dividends to be paid to accounts opened between 30 September 2020 and 31 December 2020 (including this date) or with maturity renewed between these dates.


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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