On 15 October 2009, the Turkish Constitutional Court (TCC) annulled the 0% withholding tax on qualifying interest income and capital gains derived by non-resident individuals and companies. The TCC decision will enter into force nine months after its publication in the Official Gazette, with no retroactive effect. The details of the annulment decision are not yet made public. Background By way of Law 5281, effective from 1 January 2006, a 15% withholding tax was introduced on qualifying interest income and capital gains derived from the disposal of securities, bonds and other capital market instruments by non-resident and resident individuals and...