Tax Map For Rent Income Earners
Each year, the rent income earned by real persons are declared to the respective tax office with the Annual Income Tax Return. For 2021 tax year, the tax return submission deadline is 31st of March, 2022. The types of income that are within the scope of GMSI except for the rent incomes, are stated in the Income Tax Law Number 70. In order to declare the rent income, the lump sum expense method and actual expense method are implemented. On lump-sum method, after deducting the amount of exception from the rental income, 15% of the remaining amount can be deducted against actual expenses. Lump sum expense method is not applicable for lease of rights. In the below table only information is provided for rent income from residental and commercial places. For further detailed information please contact your customer representative or an expert.
Tax Map For Rent Income Earners - Archive