Tax Planning for Turkey

As with any property investment abroad, it is important to be aware of the tax responsibilities which investors are subject to. While we strongly recommend discussing the tax situations with appropriate legal representatives in Turkey, we can give you a basic overview of the situation_

Property in Turkey is subject to Real Estate Tax, the equivalent of the UK council tax
When purchasing a property, the purchase is taxed by around 1.5% of the purchase price and this tax is payable at the time of purchase.
If you are receiving rental income from your property, you are liable to pay Personal Income Tax.
If you sell the property within five years of purchasing it you will also be liable for Personal Income Tax, however if the property is held for five years or more before selling it, the sale is exempt from this tax.
If the property is left for inheritance, the applicable tax can be between 1% and 30%

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