May 15, 2019 / 4:33 AM / 6 days ago

Turkey reduces bank and insurance tax on some forex sales to zero - Official Gazette

ISTANBUL, May 15 (Reuters) - Turkey has reduced to zero the BSMV bank and insurance tax on forex sales between banks, and between banks and the Treasury, the country’s Official Gazette said on Wednesday.

It said the presidential decision also reduced to zero the same tax on forex sales to those repaying to banks foreign currency loans. In 1998, when the relevant law was passed, this tax was set at 0.1 percent.

Reporting by Can Sezer; Editing by Daren Butler

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