Number: 58
Date: 12/06/2022

Title:

The BITT rate calculated over the money received in favor of consumer loans has been determined as 10%.

With the Presidency Decree numbered 5729 published in the Official Gazette dated 11 June 2022, the rate of bank and insurance transactions tax (BSMV) calculated over the money received in favor of consumer loans has been increased from 5% to 10%.

The Decree has entered into force on the date of its publication to be applied to consumer loans to be extended as of 11 June 2022.

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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