Client Alert:

THE CEILING FOR STAMP DUTY RAISED BY 9.11% FOR 2021

THE CEILING FOR STAMP DUTY RAISED BY 9.11% FOR 2021

The Turkish Revenue Administration has issued the revisions to the stamp duty amounts and the ceiling that will become applicable as of 1 January 2021.

Under a new communique, the Stamp Duty Code General Communique numbered 65, which was published in the Official Gazette on 30 December 2020, the new ceiling for stamp duty has been increased 9.11% from the previous year to TRY 3,534,679.90 (approximately EUR 390,500 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 stamp duty for documents where a fixed amount is applicable is also raised by 9.11%.

Please do not hesitate to contact us if you like to have more information on stamp duty or have any queries.

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