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Turkey Value Added Tax
- In most cases, VAT is 18%.
- There are different rates of tax of 1% And 8%% for goods and services as defined in law.
- VAT is charged on assets and services in Turkey as well as on imports into Turkey.
- Exports are not subject to value added tax.
- The period for reporting to the VAT authorities is once a month. The payment is made by the 26th day of the month after the end of the current month.
Tax on Transactions in Turkey
- The tax rates for giftes are 10%-30% of the value of the asset. The tax rates for inheritance are 1%-10%.
- Tax of 5% is payable.
Inheritance and Gift Tax in Turkey
- The tax rates for giftes are 10%-30% of the value of the asset. The tax rates for inheritance are 1%-10%.
- Inheritance tax is paid over 3 years, two payments being made each year.
Turkey Real Estate Taxes
- Annual property tax of 0.1%-0.3% is payable on land and buildings.
- A tax of 1.5% is payable on the sale of real estate. The tax is paid by the vendor and by the purchaser.
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