The Ministry of Treasury and Finance enacted the General Communique on Stamp Tax Law No. 65 on 29 December 2020, setting the ceiling amount referred to in Article 14 of the Stamp Tax Law and determining and announcing the fixed taxes in accordance with the revaluation rates.
Following the previous issuance of General Communiqué to the Tax Procedure Law No. 521 on 28 November 2020, the Ministry of Treasury and Finance set the revaluation rate for 2020 at 9.11%.
The latest Communique revalued the fixed taxes set out in Annex-1 of the Stamp Tax Law by this rate.
Additionally, the ceiling amount of the stamp tax duty levied on each paper was increased in line with the revaluation rate and set at TRY 3,534,679.90. However, the rates to be applied to agreements that involve a monetary amount, specifically varying from 0.189% to 0.948%, will remain the same as previous years.
The Communique entered into force on January 1, 2021.
For further information on the new Communique and the revaluated tax rates, contact your regular CMS advisor or local CMS expert Dr. Döne Yalçın.
