Changes to withholding tax rates on bank deposit interest have been implemented in Turkey.
As of July 9, 2025, Turkish withholding tax rates applicable to various investment instruments have been increased and set as follows:
| Turkish Withholding Tax Rates | ||
| Account Type / Maturity | Previous Rate | Updated Rate |
| Demand and notice accounts, and time deposits ≤ 6 months | 15% | 17.50% |
| Interest income from time deposits > 6 months and ≤ 1 year | 12% | 15% |
| Interest income from time deposits > 1 year | 10% | 10% (unchanged) |
| Interest income from time deposits > 1 year with variable
interest indexed to inflation | 0% | 0% (unchanged) |
| Income received from the shares of equity-intensive mutual
funds, from the participation shares of venture capital investment funds and real estate investment funds held for more than two years |
0% |
0% (unchanged) |
| Income received from other investment funds | 15% | 17.50% |
For a deeper discussion on the above, please reach out to your Vialto Partners point of contact, or alternatively:
Cumhur Dülger
Partner
Ece Ilter
Director
Erkan Bulut
Senior Consultant
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