Hello all
Can anyone advise what is, how much and how is deed transfer tax worked out. We are about to get our tapu transfered to our name and have been asked for a sum of money for deed transfer tax but the amount of money required appears to be negotiable or variable, we paid for our property last May and have used it since then. Any help would be much-appreciated thank you in advance.
Gaser and Mrs Gaser
we bought ours 2 years ago and i can't remember paying any transfer tax. it was a new build maybe the builder swolled that. the only thing we had to pay was for the english translater to be present when we signed down the tapu office.
when the tapu(deed) is finalised there is tax to be paid to the government. this is at a rate of 3%. This breaks down to 1.5% buyer and 1.5% seller, but in reality the buyer normally pays the lot. the price on the tapu is a lot less than the purchase price... this is usual in Turkey as no one here likes paying tax! hope this helps.
Thanks for that Chelsea boy that's what I had thought of as purchase tax the description deed transfer tax was what threw me . As you said it's a lot less than 3% of the purchase price, I wondered if any one has any thoughts on capital gains tax ( I know we don't like it ) . If when we sell the new buyer doesn't want to under declare or if the Turkish authorities tighten up on the values declared and use the actual price paid we could be in for a huge capital gains tax bill, is it worth paying more tax now to save problems in the future? I know that we don't pay capital gains tax if we sell after four years, but if somthing happens and we need to sell before then can anyone also tell me how is capital gains tax calculated? any info or thoughts would be appreciated thanks.
from what i can gather the buyer has no say in it, its settled at the tapu office. They tend to have their own pricing structure. If you pay tax in turkey then you dont have to pay in the uk
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