Turkey's Revenue Administration has announced the publication of Presidential Decision No. 9286, which increases the withholding tax rate on dividend distributions from 10% to 15%. This applies where the beneficial owner of the dividends is: A resident or non-resident natural person; A tax-exempt corporate entity; and A non-resident company, unless the dividends are derived through a permanent establishment or representative in Turkey. Further, the branch remittance tax rate on subsidiary profits remitted to a parent company is increased from 10% to 15%. The reduction in the above rates to 10% was originally provided for by Decision No. 4936 with effect...