CEVAP:

Tax Object & Exemption: All the transactions and services stated in the Law No. 6802 and performed by banks, bankers and insurance companies are subject to banking and insurance transactions tax (BITT) regardless of the nature of the transaction. The transactions of banks and insurance companies are exempt from VAT, but are subject to BITT, which is due on the gains of such companies from their transactions. 

Taxpayer: Taxpayers of banking and insurance transactions tax are banks, bankers and insurance companies.

Taxable Event: There will be the banking and insurance transactions tax upon the money, which they collect under the name of interest, commission and expenditure because of the services they performed on behalf of banks, bankers and insurance companies.

Tax Base & Rate: The tax base for BITT is the total amount of Money collected by the banks and insurance companies from their customers. The general BITT rate is 5% and some specific transactions are taxed at 1%. In addition, foreign exchange transactions are subject to 0 (zero) BITT according to the Council of Ministers Decision since 2008.