Withholding Tax Rate over the Revenues Gained from Commercial Papers and Lease Certificates With a Maturity Date Less Than 1 Year Issued by Asset Leasing Companies is Increased to 15%

Through the promulgation of the Presidential Decision No. 2569 (“Decision”), published in the Official Gazette dated 24th May 2020 and No. 31136, the withholding tax rate is increased to 15% for the income to be obtained from those below & the earnings arising from their disposal:

  • Corporate papers approved by the Capital Markets Board in accordance with the Capital Markets Law No. 6362
  • Lease certificates with a maturity date less than 1 year and issued by asset leasing companies

You may find the full text of the Decree here.