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What is the interest withholding rate between India and Turkey?
Under the India-Turkey tax treaty, the withholding rate on interest is 15%. Certain types of interest (such as government bonds) may qualify for additional exemptions under specific treaty articles. This 15% rate compares to a median of 10% across India's 48 active treaty partners, and 10% across Turkey's 37 active partners.
Network Comparison
India
Rank 46 of 48 active treaties (lowest rate = #1)
Lower rates with: Italy (15%), Philippines (15%), Singapore (15%)
Higher rates with: United States (15%), Thailand (25%)
Turkey
Rank 34 of 37 active treaties (lowest rate = #1)
Lower rates with: Greece (12%), Belgium (15%), Canada (15%)
Higher rates with: Italy (15%), Portugal (15%), United States (15%)
Important: Treaty rates require proper claim forms (e.g., IRS Form W-8BEN for U.S. treaties, HMRC DT-Individual for U.K. treaties, CRA Form NR301 for Canadian treaties) filed before payment. Limitation on Benefits (LOB) provisions may restrict eligibility. A 0% withholding rate does not mean no tax — the residence country may still tax the income. This is not tax advice.