The Decree of the Council of Ministers numbered 2011/1854 and dated April 26, 2011, entered into force upon being published in the Official Gazette dated June 29, 2011 and numbered 27979 (the “Decree”). Pursuant to the Decree, new regulations have been enacted regarding lease certificates issued abroad by asset lease companies resident in Turkey and lease certificates issued by asset lease companies within the scope of the Communiqué on Principles regarding Lease Certificates and Asset Lease Companies (Serial No. III/43) issued by the CMB.  In this regard, the provisions regarding withholding tax rates under Article 94 and Provisional Article 67 of the Income Tax Law (Law No. 193), Article 15 and Article 30 of the Corporate Tax Law (Law No. 5520) and the banking and insurance transactions tax rates under Law regarding Expenditure Taxes (Law No. 6802) have been reduced (to zero percent in some cases) in relation to gains derived from the aforementioned securities.