Turkey's Revenue Administration has announced the publication of Presidential Decision No. 6791 on 14 February 2023, which provides for a reduction in the withholding tax rate on share buybacks. Under Article 94 of the Income Tax Law, where a fully liable (taxable) Turkish company acquires its own shares, the income/gain for shareholders is considered a deemed dividend subject to 15% withholding tax. As provided by Presidential Decision No. 6791, the withholding tax rate is reduced to 0%.