Turkey's Revenue Administration has announced the publication of Presidential Decision No. 4936 of 21 December 2021, which provides for a reduction in the withholding tax rate on dividends from 15% to 10% for the following beneficial owners: Resident and non-resident natural persons; Tax-exempt corporate entities; and Non-resident companies, unless the dividends are derived through a permanent establishment or representative in Turkey It is also provided that the branch remittance tax rate on subsidiary profits remitted to a parent company is reduced from 15% to 10%. The rate reductions entered into force on 22 December 2021. The Revenue Administration has also...