A new regulation has been made for currency protected TL deposit accounts. According to the regulation in the Official Gazette, deposit account holders will be exempt from the exchange expense tax of 2 per thousand at the end of maturity.
In today’s issue of the Official Gazette, there is a new article about the currency protected account system. President’s Decision took place. This decision contains an important issue regarding the decision of the citizens who deposited money into their currency-protected deposit accounts at the end of the maturity period. Let’s take a look at the details of this Presidential Decision together.
According to the Presidential Decree in the Official Gazette, a citizen who deposits money in a currency protected deposit account can withdraw his money at the end of the maturity period. If you want to treat it as a currencywill not pay foreign exchange tax. In other words, if the citizen makes this choice, he will be freed from the tax of 2 per thousand.
What is foreign exchange expense tax?
Foreign exchange expense tax is a type of tax applied in foreign exchange transactions. The tax item, also known as “Bank Insurance and Transactions Tax (BSMV)”, was once taken as 1 percent. However, this rate has been reduced to 2 per thousand. The Presidential Decision numbered 5349 in today’s issue of the Official Gazette focuses exactly on this tax.
RELATED NEWS
Fitch Updates Dollar Rate and Inflation Forecasts for Turkey: These Could Be Good Days…
published in the Official Gazette number 5349 For President’s Decision here You can use the link.