Property Taxes in Turkiye

Most property owners in Turkiye will usually remember paying a much higher price for their property purchase than the value declared at the Land Registry and showing on their Tapu.... 

Owners may be surprised to learn that the Turkish tax man is levying :

1) a penalty, and 

2) claiming the underpaid tax, and 

3) charging interest on the amount of property transfer tax unpaid (on the difference between the real transaction value purchase price, and the under-declared value). 

The amount of interest charged is 4.5% monthly, which is more than 54% yearly with compounding.

Yes, the tax man will get his money, and has means of 'guess-timating' the true transaction price, and arguing is futile.

The good news is the penalty may be avoided if the owner makes a voluntary declaration before the tax man comes knocking... 

A better explanation is here.... 

For detailed advice and guidance, please email info@mytapu.com... with the subject... 'Tax'....