Turkey cuts tax on lira deposits, hikes tax on FX deposits - report

According to a report by the NTV

Turkey is said to be making some tax changes on the lira and foreign currency deposit accounts. It is said that they are cutting the withholding tax on lira deposits while raising that of foreign currency deposits of up to one year.

In essence, they're trying to make it more "painful" to hold foreign currencies than it is to hold lira in deposit accounts - I assume those held by financial institutions domestically.

The lira isn't showing much of a reaction though as it is still down by more than 1% on the day against the dollar:

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