Turkish equities purchased before 1 January 2006 – Relief at source - rates, eligibility, documentation, deadlines etc.
Withholding and capital gains tax
The default rates of withholding and capital gains tax applicable in Clearstream Banking on dividend and capital gains derived from Turkish equities purchased before 1 January 2006 are as follows:
Equities | Withholding tax rates | Capital gains tax rate |
Equities purchased prior January 2006 | 10% | 0 - 32% a) |
a. The default tax rate applied depends on the legal status of the beneficial owner at the time of the TIN request.
Relief at source
Eligible beneficial owners
The following beneficial owners are eligible to obtain relief at source on dividend and capital gains derived from Turkish equities:
Equities purchased prior 1 January 2006 | ||
Beneficial owner | Withholding Tax Rate | Capital Gain Tax Rate |
0% | 0% | |
DTT% | 32% |
Documentation requirements
Customers are requested to provide the following documentation depending on the status of the underlying beneficial owners:
Unrepresented beneficial owners:
- Certificate of Tax Residence (applicable for withholding tax on dividends)
Represented Type-A Investment Funds (NRIFs):
No documentation is required to obtain relief at source. Exemption from withholding and capital gains tax is granted based on the documents provided at the time of the TIN request.
Deadlines
Equities purchased prior January 2006:
Document | Deadline for receipt by Clearstream Banking |
At the latest 21 business days before the first dividend payment. Before 10 March in case of renewal. |