The interest income earned may be taxed in the USA where you are resident. However, Türkiye, where the person or institution paying the interest is located, may also impose tax. But the tax that Türkiye may impose cannot exceed 15% of the gross interest amount. Moreover, interest arising from any kind of loans given by a financial institution such as a bank, savings institution or insurance company will not be subjected to tax in excess of 10% of the gross amount of interest.

A person other than an individual or a company

Individual

Company

Detailed Explanation

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