Recent Amendments To Stamp Duty Provisions

The Law for the Purpose of Improvement of the Investment Environment numbered 6728 ("Law No. 6728") entered into force with the Official Gazette dated 09.08.2016 and numbered 29796. Following this, the Stamp Duty General Communiqué Serial No. 60 ("Communiqué") was published in the Official Gazette dated 29.09.2016 in order to explain further details of the amendments regarding stamp duty that were introduced with the Law No. 6728.

First of all, before the enforcement of the Law No. 6728, each copy of an agreement was subject to stamp duty separately over the same amount. With the Law No. 6728 it is now regulated that the stamp duty of the papers, which are subject to proportional tax and issued as more than one copy, shall be calculated over one copy provided that the taxable event that gives rise to stamp duty occurs on 09.08.2016 or on a later date. This new amendment targets to mitigate the stamp duty responsibility especially for the agreements.