By way of Decree No. 2008/14272, published in the Official Gazette of 13 November 2008, the Council of Ministers reduced the withholding tax rate on certain qualifying capital gains derived by resident individuals and companies from 10% to 0% with effect as of 14 November 2008. This zero-percent tax is final for resident individuals. For resident companies, however, such gains are subject to 20% corporate income tax levied by assessment with the annual tax return.
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