Turkey | New RUSF treatment for extensions of foreign currency loans
21 septembre 2015
Turkey | Client Alert | Tax
The Turkish tax authorities have decided to change the Resource Utilization Support Fund ("RUSF") treatment in cases of extensions of foreign currency loans obtained abroad.
Loans obtained by Turkish residents from foreign creditors may be subject to an additional tax burden known as the RUSF. The RUSF applies irrespective of whether the creditor is a bank/financial institution or a company within the borrower's group. The rate varies between 0% and 3% depending on the currency denomination, the business of the creditor and the maturity of the loan concerned.
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