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Double Taxation Treaty
Tax & Turkey
An agreement between two countries to prevent the same income from being fully taxed twice; it sets which country may tax which income and at what rate.
The US-Turkey treaty caps US withholding on a Turkish resident's portfolio dividends at 20%. The tax withheld in the US can be credited against the tax computed in the Turkish return, up to the Turkish tax attributable to that income. Rates and thresholds can change; check with a tax adviser.
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