Turkey Assembly Considers Bills to Amend Various Tax Measures

The Turkish Grand National Assembly Oct. 17 accepted for consideration Bill No. 2/3320, to amend various tax provisions. The bill includes measure to: 1) exempt withholding tax on sales of participation shares held for over one year in investment funds with portfolios consisting of at least 51 percent of shares traded on the Istanbul Stock Exchange; 2) remove the exemption on residential rental income, with exceptions, from Jan. 1, 2026; 3) decrease to 2 percent from 4 percent the employer contribution premium reduction in non-manufacturing sectors, from Jan. 1, 2026; 4) increase to 9 times minimum wage from 7.5 times ...