In Turkey there are three types of taxes: Income Tax Income taxes in Turkey works in a way that is very similar to the UK, USA, and various nations in Europe. This includes income tax on property. In simple terms – income tax in Turkey is progressive, meaning that the higher your income, the higher the tax rate will generally be. Income tax rates in Turkey vary from 15% up to 35% in...
In May 2012 a new law was implemented by the Turkish government which opened the Turkish property market to nationals of more than 129 different countries. Some rules still remain in place, such as that which states real estate owned by a foreign national in a Turkish town can’t exceed 10% of the town’s land area and a foreign national can’t purchase more than 300,000 sqm of land in Turkey without...
Turkey has undergone a profound economic transformation over the last decade and its economic fundamentals are quite solid. It is the 17th largest economy in the world and the 6th largest economy in Europe with a current GDP of approximately USD 820 billion in 2013. It’s geographical location, population growth and demographic advantage, the increase in income per capita, extensive urban renewal and...