Withholding tax reduction period for Turkish lira deposits and participation accounts extended

The Presidential Decree regarding the matter has been published in the Official Gazette and has entered into force.

With the decision, the period for the reduced withholding tax application has been extended for deposit interest, profit shares paid in return for participation accounts, and income derived from government bonds, treasury bills, and lease certificates issued by asset leasing companies established by the Treasury.

The application period for reduced income withholding tax rates on earnings and revenues obtained from bonds and bills issued by banks, lease certificates issued by asset leasing companies where the fund user is a bank, income obtained from investment funds, and income obtained from asset-backed and mortgage-backed securities has been extended until April 30, 2024.