Guidance Of Real Estate VAT Exemption in Turkey
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Read Later Comments SharePreviously , we talked about property purchase taxes in Turkey, also we mentioned a tax called the property added tax or VAT tax, which is the property sale tax, with its value ranging between 1-8% of the property value. The 6824 law identified exemptions from real estate tax, which are:
• The property should be residential or commercial and not a plot of land.
• The property owner must have owned it for a full 5 years.
• To be the first person to own the property as he either built it or purchased it from a construction company directly “to ensure that he is not a real estate broker”
• The buyer should be non-Turkish and not residing in Turkey for a period exceeding 180 days.