Rental Tax

[Vally]

Hi,

I about to start renting out my villa and as I understand it there is a requirement to submit Turkish tax forms. Does anyone know if:

*This is still a requirement to submit Turkish tax returns if all income is received and paid into UK bank accounts?
*If the maximum expenses we can claim is 25% of income (even if expenses are greater than 25%)

Thanks

Vally



Linkback: https://www.enjoykalkan.com/forum/index.php?topic=5149.0

[Enjoy Kalkan]

Hi Vally,

There are some links and documents here - http://www.enjoykalkan.com/buying-a-kalkan-property/

Hope that helps

[Kalkan regular]

Yes you pay tax in Turkey even if the income is paid in the UK. You then also have to declare the rental in the UK and they knock off what you have paid in Turkey from any money due. Even if you haven't got a high rental income you will stil have to pay a Turkish accountant unless you speak Turkish and can fill the forms in yourself. You do get a full Turkish tax allowance though so this is deducted from any tax payable, which reduces the tax payable considerably. If the apartment is owned jointly you each are credited with half the income and you each get a full tax allowance. Hope this helps.

[Vally]

Thanks guys!

Dear EK admin,

Thanks for the link -the PDFs don't have links to them, are they available elsewhere?

Vally

[Vally]

Hi,

This looks like a very useful doc for anyone with questions about this topic

http://www.gib.gov.tr/fileadmin/beyannamerehberi/nonresident_taxpayers2010.pdf

Vally