Turkey's Revenue Administration has announced the publication of Presidential Decision No. 9286, which increases the withholding tax rate on dividend distributions from 10% to 15%. This applies where the beneficial owner of the dividends is:
- A resident or non-resident natural person;
- A tax-exempt corporate entity; and
- A non-resident company, unless the dividends are derived through a permanent establishment or representative in Turkey.
Further, the branch remittance tax rate on subsidiary…