With the 2813 numbered Presidential Decree published on the Official Gazette No. 31202 on 31.07.2020; until 31.12.2020 withholding rates of rent payments of real estates, to be made in cash or to account, have been reduced from 20% to 10%, in accordance with the 94th article of Income Tax Law and 15th article of Corporate Tax Law.
- Rent payments of goods and rights indicated in Income Tax Law articles 94/5-a and 70,
- Rent payments of real estates belong to foundations (excluding fused foundations) and associations as indicated in the article 94/5-b,
- Rent payments of real estates which do not have diplomatic status and belong to foreign states, foreign public institutions as indicated in the article 94/5-d,
- Rent payments of real estates belong to cooperatives as indicated in the Corporate Tax Law article 15/l-b and provisional article of 1/4,
As of 31.07.2020, valid withholding rates have been reduced from 20% to 10%, until 31.12.2020.
The related amendment came into effect on 31/07/2020 and the newly determined rates will be applied until 31/12/2020.
Related resolution can be accessed from here.
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