Turkey, noting significant progress with its developing economy in recent years, investments in construction and real estate sectors, is becoming a center of attraction for institutional and individual investors. In this process, the country offers significant opportunities to foreign investors who need to master local dynamics to make successful investment decisions. As Trem Global team, we are closely following developments in order to provide support to investors in real estate acquisition and investment issues, which are highly dependent on internal and external factors and have unique problems, with our experienced and industry-dominated staff. In order to meet the needs of our customers in Turkey, and to help them achieve successful results in investment decisions we present Real Estate Acquisition and Investment Guide in Turkey to the investors, where we provide sector-specific knowledge. The information in this guide is general, not social, tax or legal advice.
The taxation of the building tax starts from the date of the date on which such changes occur and the discretionary action is taken in case of reasons that change the tax value, the date on which the discretionary transaction is carried out in every four years, and budget year following the date of exemption. Obligation for buildings that are burned down, destroyed, become completely unusable or subject to exemption while being taxable, the date of occurrence of such events shall expire following the installment. In addition, the taxes for buildings that are prohibited on the basis of the authorization given by the laws, will not be collected as long as these situations continue.