Revised Taxes and Fees for Real Estate in Turkey
Turkish law contains clear and objective provisions regarding taxes on real estate owners in Turkey. These taxes and fees include:
Value Added Tax (VAT)
Taxes and fees on real estate in Turkey Updated 2018 determines the value of the VAT: generally applied at 1%, 8%, and 18%. Merchandise, commercial, industrial, agricultural and independent craft and services imported, goods and services imported into the country, and deliveries of goods and services as a result of other activities are subject to VAT tax.
Regarding the property: This tax is calculated on the market value while buying the property and is calculated on the net area.
This tax varies depending on the property area, building level, and price per meter square.
Title Deed Tax
It’s paid to the documentation office and is calculated on the actual purchased value of the property when registering the ownership document for the buyer.
There is a one-time fee that the customer has to pay for the Translation of documents, title deed fee, fees for submitting a request to transfer ownership of the property, and one-time fee to open water, electricity and gas meter in the buyer's name and it costs up to 100 USD.
There is an annual property tax paid for the municipality of the area and it ranges between 0.2 % of the property value.
Seismic Insurance Tax
It is a compulsory tax paid by the property owner and its paid to the insurance companies and does not exceed 0.1% of the property value.
Residential complexes’ monthly fees:
It’s paid to compound management in which the property is located for maintenance services, cleaning, gardening services, swimming pools, playgrounds, parking, etc.
Akarkom Real Estate Company provides you the most accurate details regarding taxes, fees, and any possible costs during and after purchasing the property.
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