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ITS Alerts 1999 5501 ITS Alerts 1999 5501

Date	Summary
3-Sep-1999	Withholding tax rate changes were announced on August 25, 1999.
20-Aug-1999	As part of the austerity measures introduced by the government, the Turkish Grand National Assembly on August 11, 1999, adopted a Tax Act that amends various articles of Turkish tax laws. The aim of the new rules is to reduce the tax burden on corporate taxpayers through the easing of the provisional corporate income tax rules, as well as extending the application period of tax-free asset/stock sale and/or asset/stock exchanges (with a taxfree step-up facility).

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