Bonds issued by the Turkish governmental authorities or institutions through the Central Bank of the Republic of Turkey
Withholding and capital gains tax
The default rates of withholding and capital gains tax applicable in Clearstream on income and capital gains derived from bonds issued by the Turkish governmental authorities or institutions through the Central Bank of the Republic of Turkey are as follows:
| Bonds issued by the Turkish governmental authorities or institutions through the Central Bank of the Republic of Turkey | Withholding tax rates | Capital gains tax rate |
All eligible beneficial owner types (no withholding tax is deducted on interest or capital gains from such securities held in Clearstream) | 0% | 0% |
Bonds issued by the Turkish governmental authorities or institutions through the Central Bank of the Republic of Turkeyare by default subject to 0% withholding and capital gains tax for all types of beneficial owners (individual and institutional) and no tax certification is to be provided by the beneficial owners in order to obtain this rate other than the following trading pre-requisite certificate:
- One-Time Certificate for bonds issued by the Turkish governmental authorities or institutions through the Central Bank of the Republic of Turkey & held via Clearstream omnibus account
Deadline
The deadline for the submission of the documentation is as follows:
Document | Deadline for receipt by Clearstream |
One-Time Certificate for bonds issued by the Turkish governmental authorities or institutions through the Central Bank of the Republic of Turkey & held via Clearstream omnibus account | At the latest 5 business days before receipt of the securities in the client account with Clearstream. |