Double Taxation on Interst from Savings

[kenny mclachlan]

Hi

Could anybody on the forum give some feedback or advice if you have Savings in a Turkish bank, and recieve interest.Do you have to pay double tax ie tax in the country of origin {Turkey} and also tax in the UK.I am not a resident.





 thanks

[desmartinson]

No you don't Kenny.

[kenny mclachlan]

Thanks for that reply Des its much appreciated,so if you can spread the funds around with several banks in Turkey ie the 50,000 tl threshhold you would only pay the 15 percent tax on the interest from the funds.



thanks

[desmartinson]

   

[nichola]

The amount protected has been increased to 100,000TL so you can spread it around in less banks   

http://www.calis-beach.co.uk/forum/search2/

[kenny mclachlan]

Thanks nichola i didnt know they had doubled the protected amount to that level.


Thanks for that its much appreciated, will sort something out when im there in november.