Taxpayers must submit their declarations by the end of Monday, February 22nd, and the first installment of the valuable housing tax must be paid by March 1st.
The regulation for taxpayers to submit an electronic declaration for the valuable house tax, which has been put into effect since the beginning of the year, was made in the Internet Tax Office.
According to the compilation made by AA correspondent, the valuable housing tax will be given for “residential properties” within the borders of Turkey and whose building tax value exceeds ₺5 million in 2020.
“Residential immovables”, on the other hand, refer to each independent section in buildings with residential properties and those consisting of more than one independent section. These departments will be evaluated separately in terms of taxation. In the evaluation of whether the real estate has the property of residence, the actual usage status will be considered as well as the qualification in the records. The building tax value will be provided by those concerned from the municipality where the immovable is located.
The taxpayers will submit their declarations to the tax office of the place where the immovable property is located until the end of the 20th day of February of the relevant year, by attaching the document showing the building tax value (related to the year for which the declaration was submitted and the previous year) received from the municipality of the location where the residential property is located.
Accordingly, the declarations for this year should be submitted until February 20, since this date falls on the weekend, the said period will expire on Monday, February 22.
Declarations can be issued from the Internet Tax Office
Taxpayers will be able to submit their declarations themselves electronically, as well as submitting an e-declaration by signing contracts with independent accountants, independent financial advisers, and certified public accountants. If the declaration is submitted electronically, the document showing the building tax value to be added to it will be submitted to the relevant tax office by hand or by mail within 15 days following the filing date.
The Revenue Administration has opened “valuable housing tax returns” regarding residential properties within the scope, on the Internet Tax Office’s “https://intvrg.gib.gov.tr/” website for taxpayers who wish to submit electronically. Declarations can be sent electronically by taxpayers or authorized professionals.
Taxpayers (full ownership, shared ownership, and usufruct right owners) who have more than one valuable property taxable property to be declared will submit a single declaration for all of these immovables. A separate declaration will be prepared for each immovable in the statements regarding the real estate subject to ownership.
Payment process
The valuable housing tax will be levied and accrued annually by the authorized tax office where the declaration is submitted.
In case of declaration of the immovable under the jurisdiction of another tax office, the authorized tax office where the declaration is submitted and the accruals are made will notify the tax office where the other immovables are located within 15 days from the day after the declaration submission period expires. The tax imposed and accrued will be paid in two equal installments until the end of February and August of the relevant year.
Since the last day of February falls on the weekend, the first installment of the valuable housing tax must be paid by Monday, March 1.
On the other hand, those with a value between ₺5 million and ₺7.5 million among the valuable residential properties subject to housing tax will be subject to 3 per thousand tax for the part exceeding ₺5 million.
In dwellings with a value of up to ₺10 million, the tax will be applied as ₺7,500 for ₺7.5 million and 6 per thousand for the surplus.
Residences whose value exceeds ₺10 million will be taxed ₺22,500 for ₺10 million and 10 per thousand for the excess.
In case of ownership of residential immovable in the form of shared ownership or joint ownership, the total value of the immovable will be taken as a basis.
Valuable house tax exemption will be applied for the single property with the lowest value of residence tax, which is the subject of the valuable housing tax, for those who have a single residential property within Turkey borders and those who have more than one residential property.
Source: AA / Translated by Irem Yildiz