Turkey's Revenue Administration has announced the publication of Presidential Decision No. 4936 of 21 December 2021, which provides for a reduction in the withholding tax rate on dividends from 15% to 10% for the following beneficial owners:
- Resident and non-resident natural persons;
- Tax-exempt corporate entities; and
- Non-resident companies, unless the dividends are derived through a permanent establishment or representative in Turkey
It is also provided that the branch remittance tax rat…