Investment Guide

Timeout in Real Estate Tax

Timeout in Real Estate Tax

   Starting from the beginning of the year following the calendar year in which the tax receivable was born, the provision that the tax that was not notified to the tax and taxpayer within five years shall be time-barred. The statute of limitations on taxes and penalties of buildings and land which are not declared shall begin from the beginning of the year following the date on which it is learned by the Contracting Entity that this building and land is notified. According to this situation, the buildings, land and terrain that have been excluded from the notification should be notified to the taxpayer within five years of the beginning of the year following the date on which the relevant municipality learned that it was not notified. Otherwise, the property tax, which cannot be levied within the said period, expires.

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