On 3 February 2009, the Official Gazette No. 27130 published Decree of Council of Ministers No. 2009/14593 amending the withholding tax rates on interest paid to non-resident companies. The new withholding tax rates effective as of 3 February 2009 are summarized below.
Interest on credits from non-resident corporations
Previously, the zero rate applied, inter alia, to interest on credit contracts paid to foreign states, international institutions or to f…