DT19106 - Particular agreements: Turkey: Interest

Interest arising in Turkey and beneficially owned by a United Kingdom resident may be taxed in Turkey at a rate not exceeding 15 per cent.

Article 11(8) provides that interest paid by a United Kingdom company to a Turkish parent etc. company cannot be treated as a distribution by virtue of ICTA88/S209 (2)(e)(iv) and (v) unless more than 50 per cent of the voting power of the recipient is held by United Kingdom resident persons. But see DT215 for the position after FA 1995.