There are only 5 days left for the declaration period that starts on March 1, which concerns millions of real estate owners across Turkey.

Taxpayers will pay income tax if they provide a rental income of more than 9 thousand 500 thousand TL from the residence and 70 thousand TL from the workplace for the period of 1 January-31 December 2022. An exception will be applied for only one residence in the residence. Those who do not declare their rental income or under-declare will not be able to benefit from the exception.

The Ready Statement System can be accessed 24/7

Those who earn housing income above the exemption limit will file a declaration after this exception rate is reduced. Since the exception rate can only be used in one residence, those who earn rental income from more than one residence will need to pay attention to this. On the other hand, if the declaration limit is exceeded in the rental income of the workplace, the exception rate will not be deducted.

Citizens online By logging into the “Ready Statement System” via the address of the company, it can submit rent statements quickly and easily by approving the prepared statements or making the necessary changes. In addition, this process can be done at the tax office in the region where the residence is located. The Ready Statement System can be accessed 24 hours a day, 7 days a week.

Can be paid in two equal installments

The taxes accrued to the person from the rental income can be paid in two equal installments in March and July. The first installment, together with the stamp tax, must be paid by 31 March and the second by 31 July.

Taxpayers will be able to pay their taxes through the Interactive Tax Office and GİB mobile application, branches of contracted banks, alternative payment channels (internet banking, telephone banking, mobile banking), PTT workplaces and all tax offices.

Taxpayers over the age of 60, who cannot use the internet or cannot go to the tax office, the illiterate, the disabled and patients will be able to seek help from the Tax Communication Center with the number “444 0 189”. An officer from the Ministry of Treasury and Finance will assist these people according to the appointment system.

Taxpayers will be able to get all kinds of information by calling the GİB’s call center “Tax Communication Center” (VIMER-189) about submitting annual declarations.

The deadline for the declaration of earthquake victims has been extended to August 15.

Family members will prepare separate declarations on their own behalf for the rental income they receive from their property and rights. In the declaration, if the actual expense method is selected, many expenses can be used in deductions.

Lighting, heating, water and elevator expenses paid by the lessor, insurance expenses related to the leased property and rights, 5 percent of the acquisition price of a real estate leased as a residence for a period of 5 years from the acquisition year, tax paid for the leased property and rights Many items can be used as a discount in the determination of rental income, such as taxes, fees and goodwill, participation fees for expenditures paid to municipalities, repair expenses for real estate, and maintenance and maintenance expenses.

In places where force majeure has been declared due to earthquakes in Kahramanmaraş, the tax returns that must be submitted by taxpayers can be submitted until 15 August and the taxes to be accrued based on these declarations can be paid until 31 August.

Taxpayers who are within the scope of force majeure will be able to pay by submitting their tax returns before these dates.

“Don’t miss the deadline to take advantage of the exception”

Attorney Ali Yüksel, Head of the Real Estate Law Institute, said that property owners must submit a timely declaration in order to benefit from the exception.

Yüksel said, “Those who do not submit their income declaration on time will be faced with a tax penalty of a multiple of the tax by calculating income tax on the amount of undeclared rental income and will not be able to benefit from the exemption.”

Expressing that monthly delay interest will be paid for taxes that are not declared and paid on time, Yüksel warned that a double and first-degree irregularity penalty will be imposed due to non-declaration.

Noting that the number of taxpayers who rent out their residences and workplaces in Turkey is estimated to be around 13 million, Ali Yüksel said, “Those who are shareholders in the residence should also file a declaration if they earn more than 9,500 TL per person in rental income.”

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