Inherited a Property in Turkey? - Tax Regimes


Inherited a Property in Turkey? TaxRegimes

 

InheritedProperty is subject to inheritance and gift tax under Turkish Law.

In Turkeythe following rates apply with regard to donation tax and inheritance tax (verasetve intikal vergisi):

Taxable base

Succession

Donations

Up to TL240,000.00

1%

10%

From TL240,000.00 to 570,000.00

3%

15%

From TL570,000.00 to 2,200,000.00

5%

20%

From TL2,200,000.00 to 4,280,000.00

7%

25%

Over TL4,280,000.00

10%

30%

 

With regardto donations between spouses, ascendants and descendants (with the exclusion ofadopted person), the above mentioned rates are reduced by 50%.

For eachbeneficiary, the first level of TL4,656.00 is exempt from donation tax.

With regardto the inheritance tax, the first level of TL202,154.00 is exempt for eachheir. In case the deceased does not have descendants, the first level ofTL404,556.00 is exempt for the surviving spouse.







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