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Tax Cuts on Bank Deposits in Turkey

By Alejandra Pousa, 05/06/21


In order to encourage lira savings, deposits of up to 6 months have now a lower tax, from 15% it went down to 5%, while tax on deposits of up to one year has gone from 12% to 3%. Accounts of more than a year tenure are not subject to taxes.

This is the third time these measures have been extended since September 2020. They will remain in force until the end of July.

Source: Hürriyet

 

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