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ARTICLE · 04 DECEMBER 2012

Recent Developments Regarding Duties In Turkey

Hergüner Bilgen Üçer Attorney Partnership
Hergüner Bilgen Üçer Attorney Partnership
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Hergüner Bilgen Üçer Attorney Partnership

Hergüner Bilgen Üçer Attorney Partnership

Since 1989, Hergüner Bilgen Üçer has been recrafting the Turkish law firm model along modern...

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Nothing is certain but death and taxes.

TurkeyFinance and Banking
Hergüner Bilgen Üçer
Hergüner Bilgen Üçer
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Nothing is certain but death and taxes. Is this really the case for taxes though? With new regulatory developments everyday, the taxing procedures are becoming unpredictable.

Pursuant to Article 23 of Part IV of Table 2 of the Stamp Tax Law numbered 488 (the "Stamp Tax Law"), if the loans are extended by banks, foreign credit institutions or international finance institutions, the instruments that would be issued for the grant and repayment of the loan, as well as annotations to those instruments, shall be exempted from stamp duty. If the loan is granted by institutions other than those mentioned above, then a stamp duty of 0.825% should be calculated over the amounts referred to in the instruments and annotations.

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