Türkiye Reportedly Weighs 10% Withholding Tax on Money Market Fund Gains
4 Articles
4 Articles
The Treasury and Finance Ministry is preparing to introduce a 10 percent withholding tax on corporate earnings in money market funds in order to curb short-term capital movements.
Turkiye Plans 10% Tax on Institutional Money Market Fund Gains as Funds Hit $37.4 Billion
Türkiye’s Treasury and Finance Ministry is preparing to impose a 10% withholding tax on institutional investors’ gains from money market funds, among the stronger-performing investment vehicles during the period of tight monetary policy. The proposal targets both Turkish and foreign institutional investors. It is part of a broader effort to make capital flowing into the country more lasting rather than concentrated in short-term financial instru…
It has been claimed that the Ministry of Finance will apply a 10% withholding tax to the earnings of domestic and foreign institutional investors from money market funds. According to BloombergHT, while domestic investors can deduct this withholding tax from their provisional tax, it is planned that it will be applied to the final tax for foreign investors. In other words, it seems that while foreign investors will remain at 10%, domestic invest…
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