Income Tax on Turkish Property

Income Tax on Turkish Property

Property tax is paid by property owners or those who bear the title of the property owner. Tenants pay no property tax. In real estate with shares, each shareholder is subject to tax at the rate of its share, and in property in the case of a subsidiary, each owner is subject to fiduciary property tax.

Property tax must be paid in accordance with law 1319 for all immovable properties located within the borders of Turkey. The taxpayer owns the real estate. For the tax paid in two equal installments per year, the municipality must be notified of the property tax by the end of the year when the real estate is sold. 

Do Foreign Investors Pay Property Tax?

Foreign nationals are also taxpayers by paying property tax on real estate owned in Turkey. The price to be paid is calculated by calculating the property tax rate on the value of the immovable property.

The tax rate of housing is calculated as 2 per thousand in metropolitan borders and 1 per thousand in non-metropolitan places. Workplace, shop property tax rate is applied as 4 per thousand in the metropolitan city and 2 per thousand in the non-metropolitan municipality.

Are Foreign Investors Taxpayers?

Yes, Foreign investors must also pay taxes for their real estate located in Turkey. The tax amount of housing varies according to various elements. It would be much healthier for individuals to contact a real estate consultant company for much more detailed information about this issue.

Compare listings

Compare