Tax Withholding Rate on Dividends Raised to 15%

Foreks - The withholding tax rate on dividends has been increased to 15%. The decision regarding changes to the withholding tax rates specified in Article 94 of the Income Tax Law No. 193, as well as the withholding tax rates in Article 15 and Article 30 of the Corporate Tax Law No. 5520, was published in the Official Gazette. With this regulation, the withholding tax rate on dividends, which was previously applied at 100%, has been raised to 15%.