On 30 December 2010, the Official Gazette No. 891 published Emergency Ordinance No. 117 that amends the Tax Code. The amendments would enter into force on 1 January 2011, and include
The major proposals are summarized below.
Withholding tax
Withholding tax rate applicable to dividends paid to companies resident in the EEA, provided that the shareholding requirements for the participation exemption are not met, would be increased from 10% to 16%.…