Investment Funds in Turkey

Turkey Investment Funds in Turkey Guide to the taxation and regulation of investment funds and their investors Investment Funds in Turkey - Guide to the taxation and regulation of investment funds and their investors This booklet was prepared by PricewaterhouseCoopers Turkey to provide a broad outline of the regulation and taxation of Turkish and foreign investment funds carrying out portfolio investment activities through issuance and non-issuance of Investment Fund Certificates in Turkey and taxation of their investors. It reflects the current tax law or practice in Turkey as of March 2004. This booklet is not intended to provide definitive investment advice but merely to act as an explanatory guide. The application and impact of laws can vary widely according to the nature of specific cases. Given the changing nature of laws, rules and regulations, there may be omissions or inaccuracies in information contained in this booklet. While we have made every attempt to ensure that the information contained in this booklet has been obtained from reliable sources, PricewaterhouseCoopers is not responsible for any errors or omissions, or for the results obtained from the use of this information. We would strongly recommend that readers seek professional advice before making any decisions. In no event will PricewaterhouseCoopers, its related partnerships or corporations, or the partners, agents or employees thereof be liable to you or anyone else for any decision made or action taken in reliance on the information in this booklet or for any consequential, special or similar damages, even if advised of the possibility of such damages. For further information, please contact the PricewaterhouseCoopers office in Turkey. (see Appendix II) © 2004 PricewaterhouseCoopers All rights reserved. PricewaterhouseCoopers refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. The information contained herein is for general guidance on matters of interest only. The application and impact of laws can vary widely based on the specific facts involved. While we have made every attempt to ensure that the information contained in this leaflet has been obtained from reliable sources, PricewaterhouseCoopers is not responsible for any errors or omissions, or for the results obtained from the use of this information. Before making any decision or taking any action, you should consult a professional consultant. ABBREVIATIONS CMB Capital Market Board of Turkey CML Capital Market Law CMLeg Capital Market Legislation CT Corporate Tax CTL Corporate Tax Law FID Foreign Investment Directorate FDIL Foreign Direct Investment Law IFPC Investment Fund Participation Certificate ISE Istanbul Stock Exchange IT Income Tax ITL Income Tax Law MoF Ministry of Finance NRIF Non-Resident Investment Fund PE Permanent Establishment PR Permanent Representative QIF Qualified Foreign Investment Funds TL Turkish Lira TPL Tax Procedural Law TTRG Turkish Trade Registry Gazette WHT Withholding Tax ... - tailieumienphi.vn