Inheritance tax is one of the typical examples of wealth taxes as “inheritance tax” and “inheritance shares” are applied in two separate ways. In the inheritance procedure, the remaining heritage is taxed as a whole before it is shared among the heirs. In the pourparty share procedure, instead of being taxed as a whole, the inheritance is taxed separately for those who have inherited each heir.
Inheritance and Transfer Tax is the subject of tax on goods belonging to citizens of the Republic of Turkey and goods located in Turkey through inheritance or for whatever reason without any immediate effect from one person to another. In other words, in order for inheritance and retribution to be subject to tax, either the property must be within the borders of Turkey or the person who inherited or transferred the property must be a citizen of the Republic of Turkey.
The tax payer is referred to as persons who acquire property through succession or without delay, while those who acquire property within the borders of Turkey are referred to as Turkish citizens who acquire property abroad and foreigners whose residence is in Turkey.
The obligation starts on the date of the declaration when the declaration is required. However, in cases where the declaration is not necessary and for the goods not shown in the declaration given earlier, it starts on the date determined by the administration. The liquidation case begins on the date of completion of the liquidation proceedings by the court.