What is the dividend withholding rate between Belgium and Turkey?

Under the Belgium-Turkey tax treaty, the withholding rate on dividends is 20% for portfolio investors (general rate). A reduced rate of 15% applies when the beneficial owner is a company holding a qualifying ownership stake (typically 10% or more of voting stock). Note that the reduced rate requires the recipient to file the appropriate treaty benefit claim form before payment. This 20% rate compares to a median of 15% across Belgium's 39 active treaty partners, and 15% across Turkey's 37 active partners.