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21.11.2024

BITT Rate Change on Consumer Loans

Presidential Decree No. 5729 was published in the Official Gazette dated 11/06/2022.

With the published Presidential Decree, Article (ğ) has been added to Article 1 of the Council of Ministers Decree dated 28/8/1998 and numbered 98/11591 regarding the determination of the bank and insurance transactions tax rates in Article 33 of the Expense Tax Law No. 6802.

With this amendment, the Banking and Insurance Transaction Tax (BITT) rate on consumer loans was increased from 5 percent to 10 percent. The decision entered into force on 11/06/2022.

You can access the relevant decision here.

Sincerely,
BİLGENER

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