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Orbitax

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The first-time income tax treaty and protocol between Thailand and Turkey, signed on 11 April 2002, entered into force on 13 January 2005. The treaty will generally apply from 1 January 2006.

11 July 2005

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Treaty Development

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Thailand-Turkey

The maximum rates of withholding tax are: -   15% on dividends in general and 10% if the beneficial owner is a company (excluding a partnership) holding directly at least 25% of the capital of the company paying the dividends; -   15% on interest in general and 10% on interest received by any financial institution including an insurance company; and -   15% on royalties. Thailand provides for the credit method to avoid double taxation. Turkey generally provides for the exemption-with-progression method to avoid double taxation, except in respect of dividends, interest, royalties and certain capital gains, where the...