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Turkey decreases taxes on foreign currency banking and insurance transactions

16/10/2020

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 the...

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Portrait ofDöne Yalçın
Döne Yalçın
Partner
Istanbul
Portrait ofAlaz Eker Undar
Alaz Eker Undar