Taxes in Turkey when renting an apartment

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Tax for homeowners

Any citizen who owns real estate in Turkey must pay taxes when renting it out. So it is written in the legislation of the Republic of Turkey. Usually this tax is paid twice a year at the tax office. Short-term rental of housing in Turkey by foreign owners is prohibited at the legislative level. This article will focus on taxes on long-term rentals for a period of 1 year.

In Turkish tax law, there is a minimum amount of rental income that is not subject to taxation:

  • 6.600 lira per year - for residential premises
  • 49.000 lira per year - for a commercial facility
  • If your income is above the minimum threshold, then taxes will be charged on a progressive scale. However, it should be noted here that the tax-free amount will be deducted from the total income.
  • Profit less than 22,000 liras per year - 15%
  • Profit less than 49.000 liras per year - for 22.000 liras tax 3300 liras, the remaining amount is taxed at 20%
  • Profit less than 120.000 liras per year - for 49.000 liras tax in the amount of 8.700 liras, the remaining amount is taxed - 27%;
  • Profit less than 600.000 lira per year - for 120.000 lira tax in the amount of 27.870 lira, the remaining amount is taxed - 35%;
  • Profits over 600.000 liras - for 600.000 liras tax in the amount of 195.870 liras, the remaining amount is taxed - 40%.

The tax rates listed in this article apply only to individuals. For legal entities, there is a fixed rate of 20% on profits.


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