+90 212 244 9222

04March2020

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 Declaration until 31st of March, 2020. The types of income that are within the scope of GMSI except for the rent incomes, are stated in the 70th article of Income Tax Law.

Two applications are essential in declaring rent income; lump sum expense and real expense methods. Taxpayers who choose the lump sum method can deduct the 15% of the remaining amount from real expenses after deducting the exemption from their rental income. Those who lease the rights cannot apply the lump sum method. In the table below only information is provided for rent income from residential and commercial places. For further detailed information please contact your customer representative or an expert.

Tax Map For Rent Income Earners 2020

The Revenue Administration has published an informative brochure in regards the tax declaration, which can be accessed in Turkish, here.

Written by Selma Kıy, Posted in Taxation Law

  • Notification!

    Contents provided on this article serve to informative purpose only. The article is confidential and property of CottGroup® and all of its affiliated legal entities. Quoting any of the contents of this notification without credit being given to the source is strictly prohibited. Regardless of having all the precautions and importance is put in the preparation of this article, CottGroup® and member companies cannot be held liable of the application or interpretation of the information provided. It is strictly advised to consult a professional for the application of the above-mentioned subject. Prior to taking any action in regards the above, please consult your client representative if you are a customer of CottGroup® or consult to a relevant party.

About The Author

Selma Kıy

Certified Public Accountant - SMMM
This website is using cookies.
In this website, we use cookies to develop your user experience, obtain efficient work and track statistical data. You are agreeing to our use of cookies by browsing our website. Please review Çerezler (Cookies) page for detailed information of how we manage the cookies. This choice is valid for 30 days until you delete the cookies in your web browser.
x
Hizmetlerimiz devam ediyor.

Due to the Covid-19 Coronavirus pandemic to secure the health of our employees our business operations are held remotely until further notification. CottGroup® will have its business processes carried out efficiently and smoothly thanks to our BCP plans and strong technological infrastructure. As always, our customers and business partners will be able to reach us via our phones and e-mails.