Rental agreements are subject to proportional stamp tax over rental in line with the contract time (1, 89 per thousand in 2015 in accordance with General Communique of Stamp Tax Law Serial No. 58).

If a person, who sign stamp tax documents accordance with these documents, are obliged all the time, that amount should be submitted until the evening of the twenty third of next month to a tax office and paid until the evening of the twenty sixth of that month, according to article 22/a of Stamp Tax Law.

If people who prepare the agreement are not always obliged, they should submit the documents within fifteen days after the contract date with a declaration and paid within the same period.

People who sign the documents being subject to stamp tax have double liability with regard to stamp tax. Thus, one of the parties preparing the documents is subject to pay the tax.

Rental agreements (related to properties not included in commercial enterprise and rented as a workplace by the artisan exempted from Income Tax, exempted self-employed, the taxpayers being subject to small business taxation and commercial enterprises not involved in commercial enterprise and hired as a settlement by associations and foundations and hired as a residence by real persons) are exempted from Stamp Tax.

On condition that rental agreements within the scope of exemption include the guarantor’s sign as ‘’ordinary surety’’ or ‘’joint guarantor’’ or ‘’joint debtor and joint guarantor, it should be subject to proportional stamp tax through surety annotation as of the date of issuance. (1,89 per thousand in 2015 in accordance with General Communique of Stamp Tax Law Serial No. 58).

Source: Revenue Administration
Date: 12 February 2017

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Unless aforesaid documents and properties are introduced as warrant, a confidential person can be introduced as a warranter in the capacity of joint warrantor and joint debtor on condition that it is accepted by Social Security Institution.

2- HOW SHOULD BE MADE THE VALUATION OF PROPERTIES INTRODUCED AS WARRANT?
Valuation of properties should be made with;
2.1- Reports prepared by technical employees,
2.2- Reports prepared by assessment centers or valuation experts given the authority within the scope of Capital Market Legislation,
2.3- Reports prepared by persons given the authority of expertness and arbitration by Chambers of Commerce, Industry, Shipping and Chambers of Turkish Engineers and Architects or related administrations,
2.4- Reports prepared by banks and insurance companies and related to valuation,
2.5- Reports prepared by experts appointed by Civil Courts.

Source: SSI

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.