Tax on rental

[annav]

Once we have finally bought a property and rent it out can anyone fill me in on the tax situation in Turkey? Surely I dont have to pay tax both in Turkey and in the UK on this?

Linkback: https://www.enjoykalkan.com/forum/index.php?topic=3917.0

[bibi]

 ;)You do need to pay tax on rental of a Turkish property to the Turkish government, but whatever you do pay in Turkey will be offset against anything you may owe UK side. This is cos there's a dual taxation agreement between the 2 countries.There's a helpful article on this on the 2blacklions website and heres the link below. You would have to find out though what the annual tax allowance if for calculation..

http://2blacklions.com/kalkan-property-services/property-investment-turkey/turkish-income-tax-rented-property.htm

[MartynE]

;)You do need to pay tax on rental of a Turkish property to the Turkish government, but whatever you do pay in Turkey will be offset against anything you may owe UK side. This is cos there's a dual taxation agreement between the 2 countries.There's a helpful article on this on the 2blacklions website and heres the link below. You would have to find out though what the annual tax allowance if for calculation..

http://2blacklions.com/kalkan-property-services/property-investment-turkey/turkish-income-tax-rented-property.htm

The information on that link is correct, but not complete. It is also possible to claim ACTUAL expenses against the income received, rather than a flat 25%. If your total allowable expenses are higher than 25% it could be worth doing it that way, (although you can't just pick and choose - if you elect to do it one way, you have to stick with that method for a minimum number of years).