Turkey raised the tax on foreign currency deposits

September 1, 2018 10:20 pm0 comments
Turkey raised the tax on foreign currency deposits

Turkey raised the tax on foreign currency deposits and removed taxes on those in Turkish lira in its efforts to support its troubled currency. According to today’s decision, the tax on foreign currency deposits with a term of up to six months increases from 18% to 20%. At the same time, the tax on deposits in Turkish lira with a term over one year is reduced from 10% to 0%. […]

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