Payments Subject to Withholding |
Withholding Percentage |
– Over payments made to service providers and payments regarded as salaries per Income Tax Law No.61 |
In accordance with Income Tax Law No 103 and 104 |
– Self employment payments made within the context of Income Tax Law 18 to translators, sculptors, painters, composers and inventors |
% 17 |
– Over payments made for other self employment services received |
% 20 |
– Over earned amounts paid related to construction and repair work taking place for more than one year |
3% |
– Over payments made to “limited taxpayers” for sales of rights and patents |
% 20 |
– Over payments made for real estate rentals (including payments made for renting property owned by associations and foundations) |
20% |
– Over income from Real Estate Capital Funds or Partnerships |
20% |
– Over securities income earned as defined under Income Tax Law No. 75/1-3. |
% 15 |
– Over interests earned from foreign currency deposit accounts and from profit sharing paid for foreign currency participation accounts by the Participation Banks |
|
♦ Interest bearing accounts upto 1 year (Including 1 year) |
15% |
♦ Deposit accounts for over 1 year |
13% |
– From deposit interests |
|
♦ For non-interest bearing accounts and interest bearing accounts upto 6 months |
15% |
♦ For interest bearing accounts up to 1 year |
12% |
♦ For interest bearing accounts over 1 year |
10% |
– Over profit sharing paid by Participation Banks for participation accounts |
|
♦ For non-interest bearing accounts and interest bearing accounts upto 6 months |
15% |
♦ For interest bearing accounts up to 1 year |
12% |
♦ For interest bearing accounts over 1 year |
10% |
– Over Repor account earnings |
15% |
(Over payments made to full and limited taxpayers) |
|