Turkey's Revenue Administration has announced the publication of Presidential Decision No. 9160 in the Official Gazette on 27 November 2024, which reduces the tax exemption on capital gains from the sale of participation shares held for at least two full years from a 75% exemption to a 50% exemption. This also applies for gains from founders' shares, redeemed shares, and preemptive rights owned throughout the same period. The change is effective from 27 November 2024.