Banking and Insurance Transactions Tax Rates

Subparagraph (e) of the first paragraph of Article 1 of the supplementary decision setting the banking and insurance transactions tax rates under Article 33 of Expenditure Taxes Law No. 6802 has been amended as follows:

“e) For foreign exchange transactions, 0.1% of the sales amount; for the foreign exchange transactions listed below, zero per cent of the sales amount:

• Foreign exchange sales between banks, between authorized institutions, or between banks and authorized institutions;
• Foreign exchange sales to the Ministry of Treasury and Finance;
• Foreign exchange sales to a borrower for repayment of a foreign currency loan, made by the bank that provided or acted as intermediary for that loan.”

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