The Turkish Revenue Administration has revised the ceiling of the stamp duty that will become applicable as of 1 January 2023.
A new communique, namely the Stamp Duty Code General Communique numbered 67, which was published in the Official Gazette on 30 December 2022, has raised the ceiling for stamp duty payable on documents and contracts executed and/or relied upon in Turkey by 122.93 % to TRY 10,732,371.80 (approximately EUR 536,620 at the exchange rate applicable on the date of this alert). The percentage 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 value, depending on the type of agreement. The fixed amount of stamp duty applicable for certain documents has also been raised by 122.93%.
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