Taxation
Taxation of principal protected and guaranteed funds
As with other mutual funds, no tax withholding will be made on the income obtained by sale of fund participation certificates by full and limited taxpayers. Unincorporated full and limited taxpayers and other corporations will be subject to 10% tax withholding. In addition, incomes obtained by individuals who are full or limited taxpayers upon sale of mutual fund participation certificates, including ETF will be subject to 10% tax withholding.
Taxation of Istanbull Hedge Fund
As with other mutual funds, our investors resident in Turkey will be subject to 10% withholding if the fund is sold back. Foreign entities and individuals are exempted from 10% withholding on incomes from the fund.