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Turkey decreases taxes on foreign currency banking and insurance transactions

16 October 2020

Turkey has decreased its Banking and Insurance Transaction Tax (BITT) from 1% to its new level of 0.2%.  This tax decrease to 0.2% was issued in Presidential Decree 3031 published in the Official Gazette on 30 September 2020 and amends Decision 98/11591 of...

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Authors

Picture of Döne Yalçın
Döne Yalçın
Managing Partner Turkey
Istanbul