10 Percent Withholding Tax Implementation on Money Market Funds for Institutional Investors
A new tax deduction period has begun for companies favoring funds with the expression money market in their titles, and foreign institutions will be directly affected by this situation.
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A 10 percent withholding tax application has been put into effect for institutional investors in funds that include the phrase money market in their titles.
New Regulation Targeting Institutional Investors
It has been decided to make a 10 percent withholding tax deduction over the income generated from newly purchased funds, and this regulation will particularly affect foreign institutions.
Status of Older Funds and Exceptions
The withholding tax rate will continue to be applied as zero for funds purchased previously, and these investments will maintain their current status.