Client Alert:

THE CEILING AMOUNT FOR STAMP DUTY RAISED BY 22.58%

THE CEILING AMOUNT FOR STAMP DUTY RAISED BY 22.58%

With the New Year, came the revision of the ceiling amount applicable to stamp duty. Just as it did the previous years, the Ministry of Treasury and Finance has issued a new communique, namely the Stamp Duty Code General Communique numbered 64, which was published in the Official Gazette on 27 December 2019 (“Communique”).

Under the Communique, the new ceiling amount for stamp duty is increased 22.58% from the previous year to TRY 3,239,556.40 (approximately EUR 486,000 on the date of this alert). The rates of stamp duty remain the same as the previous years which vary from 0.189% to 0.948% for agreements that contain a monetary amount depending on the type of agreement.

The new ceiling amount is applicable from 1 January 2020.

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