The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended-III
Through the promulgation of the President Decision No.4027, published in the Official Gazette dated 1st June 2021 and numbered 31498 (repetitive), the period of the application of the low withholding rates on the interest obtained from Turkish Lira deposit accounts and the dividends paid to participation accounts by participation banks has been extended until 31 July 2021.
Through the Decision, withholding is applied at the rates of 0%, 3% and 5%, depending on the term, on the TL deposit interests and the dividends paid by participation banks in return for a TL participation account until July 31,2021.
New withholding rates are applied to interests and dividends to be paid to checking and private current accounts until July 31, 2021 (including this date) and interest and dividends to be paid to accounts opened between September 30, 2020 and July 31, 2021 (including this date) or whose maturity is renewed between these dates.
The Decree enters into force on the date of its publication.
You may find the full text of the Decision here.
All rights of this article are reserved. This article may not be used, reproduced, copied, published, distributed, or otherwise disseminated without quotation or Erdem & Erdem Law Firm's written consent. Any content created without citing the resource or Erdem & Erdem Law Firm’s written consent is regularly tracked, and legal action will be taken in case of violation.
Other Contents
The Central Bank of the Republic of Türkiye's (CBRT) communiqués (Communiqués) introducing new regulations on Foreign Exchange Protected Deposit (FXPD) accounts have been published in the Official Gazette dated 20.08.2023 and numbered 32285. The regulations therein aim to minimize the volume of the...
The Communiqué (No. 2023/16) on the Amendment to the Communiqué on Required Reserves (No. 2013/15) (Communiqué) is published in the Official Gazette dated 08.07.2023 and numbered 32242. The Communiqué entered into force on the date of its publication, effective as of 07.07.2023. With the Communiqué...
The Communiqué Amending the Communiqué on Securities Maintenance (Amending Communiqué) is published in the Official Gazette dated 25.06.2023 and numbered 32232. Significant amendments introduced by the Amending Communiqué are...
The Regulation (Amending Regulation) Amending the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (Regulation) and the Communiqué on Information Systems of Payment and Electronic Money Institutions and Data Sharing Services of Payment Service...
The Regulation Amending the Regulation on Remote Identification Methods to be Used by Banks and Establishment of Contractual Relations in Electronic Environment (Regulation) is published in the Official Gazette dated 25.05.2023 and numbered 32201. The Regulation will enter into force on 01.06.2023...
The Communiqué Amending the Communiqué on Securities Maintenance (No: 2023/11) (Amendment) entered into force through publication in the Official Gazette dated 17.05.2023 and numbered 32193. With the Amendment, a temporary practice regarding banks’ securities maintenance obligation has been...
The Regulation (Amending Regulation) Amending the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (Regulation) and the Communiqué on Information Systems of Payment and Electronic Money Institutions and Data Sharing Services of Payment Service...
The Communiqué on Redetermination of Minimum Equity Amounts for Payment and Electronic Money Institutions (Communiqué) is published in the Official Gazette dated 28.01.2023 and numbered 32087. The Communiqué will enter into force on 30.06.2023. As per the Communiqué, the minimum equity amounts...
The Regulation (Amending Regulation) Amending the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (Regulation) and the Communiqué on Information Systems of Payment and Electronic Money Institutions and Data Sharing Services of Payment Service...
On 28.10.2022, Banking Regulation and Supervision Agency published the Draft Regulation Amending the Regulation on Debit Cards and Credit Cards (Draft Regulation) on its website to receive market players’ comments...
The Communiqué Amending the Communiqué on Maintenance of Turkish Lira-Denominated Securities for Foreign Currency Liabilities and the Communiqué Amending the Communiqué on Required Reserves (together referred to as “Amendment Communiqués”) were published...
On 11.08.2022 The Circular No. 2022/1 Explaining the Application of The Regulation for Disclosure of Confidential Information (The Circular) has been published by the Banking Regulation and Supervision Agency (BRSA). The Circular was published in order to shed light on the...
Law No. 7407 on Amendments to the Banking Law, Certain Laws and Decree Law No. 655 ("Law") published in the Official Gazette dated 28.05.2022 and numbered 31849 introduced various amendments to the banking legislation. The amendments are briefly summarized...
Following the publication of The Communiqué No. 2022-32/66 Amending the Communiqué No. 2008-32/34 (“Communiqué No. 2008-32/34”) regarding the Decree No:32 on Protection of the Value of Turkish Currency (“Communiqué No. 2022-32/66”) in the Official Gazette...
The Communiqué No. 2022-32/66 Amending the Communiqué No. 2008-32/34 (“Communiqué”) regarding the Decree No:32 on Protection of the Value of Turkish Currency was published in the Official Gazette dated 19 April 2022 and No. 31814...
The Communiqué (III-42.1) on Remote Identification Methods to be Used by Intermediary Institutions and Portfolio Management Companies and...
Following the publication of the Official Gazette dated 04.02.2022 and numbered 31740, the Banking Regulatory and Supervisory Authority (“BRSA”) made amendments regarding the banking sector which...
Pursuant to the Communiqué on the Re-determination of Minimum Equity Amounts of Payment and Electronic Money Institutions (“Communiqué”) which is published in the Official Gazette dated 22.01.2022 and numbered...
TR QR Code Period in Payment Services is Commencing
The Regulation on the Amendment to the Regulation on Bank Cards and Credit Cards is published
Announcement of the Banking Regulation and Supervision Agency dated 08.12.2020
Amendment to the Regulation on Procedures and Principles concerning Monitoring of Transactions Affecting Foreign Exchange Position by Central Bank of Republic of Turkey
Amendment to the Communiqué on the Procedures and Principles Regarding the Fees that Banks Can Charge Their Commercial Clients
The Regulation on Prevention Plans to be Prepared by Systemically Important Banks is published
The Period of the Low Withholding Rates Related to Deposit Interest and Dividends Paid by Participation Banks are Extended
Regulation on Remote Identification Methods to be Used by Banks and Establishment of Contractual Relations in Electronic Environment is Published
Regulation on Not Using Crypto Assets in Payments is published
General Communiqué of the Financial Crimes Investigation Board is Published
Amendment to the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism
Communiqué on Portfolio Management Companies was Amended
The Implementation of Credit Rating is Postponed to December 31st
The Regulation on Sharing of Confidential Information was Published
RUSF Rate for the Loans Obtained from EBRD and IFC
Amendment to the Regulation on the Procedures and Principles Regarding the Classification of Loans and Provisions to be Set Aside for Them
Amendment to the Regulation on Loan Operations of Banks
The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended
The Withholding Rate on Earnings from Shares of Venture Capital Investment Fund and Real Estate Investment Fund Participation Shares Held for More than Two Years Has Been Reduced to 0%
The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended
The Communiqué on the Amendment to the Communiqué on Mandatory Reserves is published