Rental income tax   

Rental income is liable for tax assessment in either your home country or Turkey.

In Turkey this tax should be paid only if rental income is over 2600 TL per year (about 1300 euro). The limit for commercial property is 22 000 TL per year (app. 11 000 euro).

This tax varies from 15% (in case your rental income is not more than 8,700 YTL – app. 4,350 euro per year) to 35% (when your income is more than 50,000 YTL – app. 25,000 euro per year).

In case the owner of the rented property is a company the tax is always 20%.

The taxable part of rental income is the annual profit minus 2600 TL for residential properties and minus 22 000 TL for commercial property.

For more detailed information please contact us.

Legal Informations

If you decided to purchase a property in Turkey, you should be aware of all legal specifications concerning your right to buy a property as a foreign citizen, what must be stated in the title deed and how many people can legally own a property in Turkey, what the inheritance procedure in Turkey is like and if you plan on a permanent stay you should know to obtain residence permit in Turkey. The answers to these questions you can find right here.

• Title deed – Tapu

• Foreign citizens who can legally buy property in Turkey

• Inheritance in Turkey

• Residence permit in Turkey

 

Taxes

Taxation is the essential part of expenses throughout the buying process and the future property maintenance. In case you rent out your property in Turkey or decide to devise or resell it, you should know what the taxation rates will be like. You can find the information on most common taxes in Turkey related to property owing in the articles below.

• Property tax

• Annual property tax

• Rental income tax

• Capital gains tax

• Inheritance and gift taxes

In case you have not found the answer to your question regarding property legislation and taxation it Turkey, please contact us, and we will gladly provide you with the information you need.

 

Buying Property in Turkey, Buyers Guide, Inspection Trips