RENTAL INCOME TAX SEASON IS COMING IN TURKEY (Istanbul)

🏠RENTAL INCOME TAX SEASON IS COMING IN 🇹🇷

Did You Fill in Your Tax Return?😉

📍In Turkey; Income derived from the rental of assets and rights outlined in Article 70 of the Turkish Income Tax Law is categorized as "Property Capital Income," commonly known as Rental Income . These earnings are subject to Rental Income Tax under specific conditions.

So, What is Rental Income Tax?🤔

Let's look at it togather, 👀

📢 Residanted or Non-Residance Individuals in Turkey who own assets or rights subject to Rental Income in Turkey, as well as those who generate income from subletting rented properties or rights, are recognized as taxpayers falling under the Rental Income category.

Who are Tax Payer for Rental Incomes in Turkey?🤔

📢 Individuals who derive income from the rental of the following listed assets and rights, which fall under the category of Rental Income as defined in Article 70 of the Turkish Income Tax Law, are considered taxpayers subject to Rental Income Tax in Turkey:

☑️Residential Properties, Commercial Properties, Lands, buildings, mineral and spring water resources, mines, quarries for stone and sand, medicinal water resources, and their integral components,

☑️Areas designated for aquatic and seafood hunting and farming,

☑️ Ancillary buildings, fixtures, and installations of real estate rented out separately,

☑️ Rights registered as real estate,

☑️ Shares obtained from foundation income without providing services in return,

☑️ Income of landowners who receive a share from agricultural produce without directly engaging in agricultural activities,

☑️ All types of exploration, operation, and concession rights,

☑️ All types of trademarks, patents, and copyrights,

☑️Right to utilize a trade name (franchising),

☑️ Leasing of ships and ship shares,

☑️ All types of motorized transportation, towing, loading, and unloading vehicles.

How Rental Incomes Are Taxed in Turkey?🤔

📢 In order for rental income to be considered to have been obtained in Turkey, the worth must be received in money or goods by the lessor.....

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