The Turkish Revenue Administration has revised the ceiling of stamp duty that became applicable as of 1 January 2024.
A new communique, namely the Stamp Duty Code General Communique numbered 68, has raised the ceiling for stamp duty payable on documents and contracts executed and/or relied upon in Turkey by 58.46% to TRY 17,006,516.30 (approximately EUR 520,000 at the exchange rate applicable on the date of this alert). The percentage rates of stamp duty remain the same as the previous years, which vary from 0.189% to 0.948% for agreements that contain a monetary value, depending on the type of agreement. The fixed amount of stamp duty applicable for certain documents has also been raised by 58.46%.
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