Turkey: Increase of withholding tax rate for individuals holding corporate bonds and non-gold-based lease certificates
Clearstream Banking1 would like to inform customers that, effective
the withholding tax rate applied on corporate bonds and non-gold-based lease certificates, with maturity of less than one year, has increased from 10% to 15% for individuals as of 24 May 2020.
This is following Presidential Decree number 2569 regarding the update on Temporary Article 67 of Income Tax Law, which was published in the Official Gazette of 24 May 2020 and numbered 31136.
The withholding tax rate of 0% for corporate investors remains unchanged.
For further information, please contact the Clearstream Banking Tax Help Desk, Clearstream Banking Client Services or your Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.