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Change in Withholding Rates on Deposit Interest and Participation Bank Profit Shares
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Published by
Erta Audit
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Type
Bulletin
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Date
December 25, 2021
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Reference
Change in Withholding Rates on Deposit Interest and Participation Bank Profit Shares
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CHANGES IN WITHHOLDING RATES ON DEPOSIT INTEREST AND PARTICIPATION BANK PROFIT SHARES
With Presidential Decree No. 4970 dated 24 December 2021, published in the Official Gazette No. 31700 dated 25 December 2021, sub-items 2 and 3 of item (d) of Article 1(1) of the Council of Ministers Decree No. 2006/10731 were amended as shown in the table below.
| 25.12.2021–31.03.2022 (%) | From 01.04.2022 (%) | |
|---|---|---|
| 2 – On deposit interest: | ||
| i) Demand, call and accounts with maturity up to 6 months | 5 | 15 |
| ii) Accounts with maturity up to 1 year | 3 | 12 |
| iii) Accounts with maturity over 1 year | 0 | 10 |
| iv) Accounts over 1 year with variable rate tied to inflation | 0 | 0 |
| v) FX-protected TRY deposit accounts and FX deposit accounts converted to TRY at exchange rate | 0 | 0 |
| 3 – On profit shares paid by participation banks: | ||
| i) Demand, call and accounts with maturity up to 6 months | 5 | 15 |
| ii) Accounts with maturity up to 1 year | 3 | 12 |
| iii) Accounts with maturity over 1 year | 0 | 10 |
| iv) Accounts over 1 year with variable rate tied to inflation | 0 | 0 |
| v) FX-protected TRY deposit accounts and FX deposit accounts converted to TRY at exchange rate | 0 | 0 |