Real Estates – Muhasebe News https://www.muhasebenews.com Muhasebe News Tue, 16 May 2017 15:24:51 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.3 If You Sell Your Real Estates Within 1 Year, You Will Pay VAT! https://www.muhasebenews.com/en/if-you-sell-your-real-estates-within-1-year-you-will-pay-vat/ https://www.muhasebenews.com/en/if-you-sell-your-real-estates-within-1-year-you-will-pay-vat/#respond Tue, 16 May 2017 15:24:51 +0000 https://www.muhasebenews.com/?p=16056 Built offices and real estates will be exempted from VAT,
1- When they are sold to a company which do not gain income in Turkey for the first time,
2- On condition that its sale value should be paid as foreign currency brought from abroad!!!
3- By means of foreign real persons who do not reside in Turkey, an office whose registered office and headquarter are not in Turkey or a permanent representative,

The ones, who bought an office or a real estate by taking advantage of VAT exemption in Turkey previously, will not be able to sell their real estates 1 year.

If they sell their office or real estate within 1 year, the tax (VAT), which was not paid when it was bought, will be received.

The properties, which are transferred to the Treasury ownership because of a suit brought by the Treasury, among the ones zoned for construction and then sold by the municipalities,  will be again transferred to persons as free of charge.

Source: General Meeting of TGNA (23.02.2017 Thursday)

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.

]]> https://www.muhasebenews.com/en/if-you-sell-your-real-estates-within-1-year-you-will-pay-vat/feed/ 0 Are Real Estates That in possession of Company’s Assets More Than 2 Years Subject to VAT in Turkey? https://www.muhasebenews.com/en/are-real-estates-that-in-possession-of-companys-assets-more-than-2-years-subject-to-vat/ https://www.muhasebenews.com/en/are-real-estates-that-in-possession-of-companys-assets-more-than-2-years-subject-to-vat/#respond Thu, 23 Mar 2017 07:00:13 +0000 https://www.muhasebenews.com/?p=11417 ARE REAL ESTATES THAT IN POSSESSION OF COMPANY’S ASSETS MORE THAN 2 YEARS SUBJECT TO VAT IN TURKEY?
According to article 17/4-r of VATA, the handover process of real estates, which have been in possession of company’s assets or municipalities or provincial special administrations at least for 2 years, are exempt from VAT.

With regard to that law, the handover process of immovable (premises, terrain, structure), which have been in possession of company’s assets or municipalities or provincial special administrations at least for 2 years, are also exempt from VAT. If these properties are sold at an auction, there will be exceptions.

Nevertheless, exception clauses are not within the scope of institutions that buy and sell these properties because of commercial reasons. Municipalities and provincial special administrations that buy and sell these properties because of commercial reasons cannot take an advantage of those exceptions.

Source: Value Added Tax Act

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.

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