Newsletter-21

395 TAX LAW Latest Amendments to the Stamp Tax Law* Att. Melisa Sevinc Introduction Pursuant to Stamp Tax Law numbered 488 1 , documents prepared through writing and signing, or the marking thereof substituent to sign- ing, to be used to evidence or define any subject, and the documents prepared electronically as electronic data are referred to as “paper” under the Law, and the parties to these papers are obliged to pay stamp tax on such papers. Stamp tax is collected either on a proportional or fixed base. Proportional stamp tax are predicated on the genre and nature of the paper that is subject to the stamp tax, while fixed stamp tax are predicated on the qualification of the papers that are subject to the stamp tax. Law numbered 6728 on the Amendment of Several Laws Con- cerning Improvement of Investment Environment 2 made substantial amendments to Stamp Tax Law numbered 488 (“Law”). In accordance with the purpose of Law numbered 6728, improving the investment environment, the stamp tax obligations of investors under the Law are readjusted in to a considerable extend. Amendments made to the Law entered into force on the date of their publication in the Official Gazette on 09.08.2016. * Article of August 2016 1 For the Turkish version of Stamp Tax Law numbered 488 please see: http://www.mevzuat.gov.tr/Metin1.Aspx?MevzuatKod=1.5.488&MevzuatIliski =0&sourceXmlSearch=damga%20vergisi&Tur=1&Tertip=5&No=488 (Access Date: 18 August 2016). 2 For the Turkish version of Law on Amendment of Several Laws Concerning Improvement of Investment Environment numbered 6728, please see: http:// www.resmigazete.gov.tr/main.aspx?home=http: // www.resmigazete.gov.tr/ eskiler/2016/08/20160809.htm&main =http://www.resmigazete.gov.tr/eskil- er/2016/08/20160809.htm (Access Date: 18 August 2016).