More tax cuts in new economic stimulus package

[Karyn UK]

I was just reading Zaman trying to find the dates when the tax cuts on new cars ends and found an article published today about further tax cuts as part of a fifth economic stimulus package.

Wider stimulus package to be introduced after polls

Included in the article is a reference to title deed fees being reduced to 0.5%, KDV on electronics and furniture being reduced from 18% to 8% and real estate tax down to 8% for the next three months.

The article was slim on details but one commentator said this would immediately reduce furniture prices by 10%.

I was particularly interested in the drop in title deed fees and wonder if this refers to the transfer tax on the declared tapu value. If it is I wonder how many people paying for their tapu's now will be told??

Hopefully further details will be revealed!

Karyn

 

[Dalaman Deli]

Yes Karyn, I thought exactly the same. I wonder how many will be told.

We had been told the title deeds tax had been reduced to 1% but I saw this article yesterday and it looks like it is 0.5%. We have just had 2 military searches returned and our clients (the buyers and the sellers) are delighted about this. Will find out definitely when the tapus are exchanged in a couple of weeks.

 

[Karyn UK]

I think there are quite a few people out there due to complete shortly and it will be interesting to see what tax amounts they are asked for. Everyone due to have deed transfer in the next few weeks needs to ask the question!

K

 

[Wardentree]

Hi all
I am particularly interested in the drop in title deed fees to as i am just about to get mine.

Any body go any info?

Thanks Martin.

 

[Karyn UK]

The government only announced this yesterday so I doubt anyone has anything further yet, you should enquire with your agent or lawyer, whoever is handling your tapu transfer.

K

 

[Turley]

The government only announced this yesterday so I doubt anyone has anything further yet, you should enquire with your agent or lawyer, whoever is handling your tapu transfer.

K

Hi Karyn
Is this the tax ie 3% we are being asked to pay for our tapu . i always thought the builder paid half. But my freind just paid 3%.

Thank you lizzy

 

[Karyn UK]

How much you pay is dependent on your contract, it should be a 50/50 split between the current and new owner but often the new owner pays it all as the agreement is written that way.

I don't know if the tax reduction applies to this tax because there just isnt enough info in the article but it should become clearer in the next few days.

Karyn

 

[Howell's]

We got our tapu yesterday and had to pay the buyers and sellers tax as that is what was on our contract. We had to pay 3%. When i asked my emlak today why we paid 3% and not 1% he said the cut had not started yet. Can anyone let me know when it starts or if it has started already.

 

[biskit4444]

I was just reading Zaman trying to find the dates when the tax cuts on new cars ends and found an article published today about further tax cuts as part of a fifth economic stimulus package.

Wider stimulus package to be introduced after polls

Included in the article is a reference to title deed fees being reduced to 0.5%, KDV on electronics and furniture being reduced from 18% to 8% and real estate tax down to 8% for the next three months.

The article was slim on details but one commentator said this would immediately reduce furniture prices by 10%.

I was particularly interested in the drop in title deed fees and wonder if this refers to the transfer tax on the declared tapu value. If it is I wonder how many people paying for their tapu's now will be told??

Hopefully further details will be revealed!

Karyn

glad to know,clever person.:114mf:

 

[nessie]

Great. I just handed over the money this week to my lawyer. I can now tell her to hold off a while.

 

[biskit4444]

I was just reading Zaman trying to find the dates when the tax cuts on new cars ends and found an article published today about further tax cuts as part of a fifth economic stimulus package.

Wider stimulus package to be introduced after polls

Included in the article is a reference to title deed fees being reduced to 0.5%, KDV on electronics and furniture being reduced from 18% to 8% and real estate tax down to 8% for the next three months.

The article was slim on details but one commentator said this would immediately reduce furniture prices by 10%.

I was particularly interested in the drop in title deed fees and wonder if this refers to the transfer tax on the declared tapu value. If it is I wonder how many people paying for their tapu's now will be told??

Hopefully further details will be revealed!

Karyn

hello,ive just had an email from my turkish solicitor saying property has to be over 150m2 to qualify for reduction which does,nt sound at all right.ive pmd you.john :slapme::35:

 

[Turley]

Hi biskit4444

Thought it was to good to be true.

never mind lizzy

 

[biskit4444]

Hi biskit4444

Thought it was to good to be true.

never mind lizzy

just as i was about to pay my taxes.:lalala::lalala::lalala::lalala::slapme:

 

[biskit4444]

tapu,2.5% reduction.

hello

 

[ChrisBobs]

Re: tapu,2.5% reduction.

here it is - News report and (I believe!) the Government Gazete links

New tax cuts take effect today
30 March 2009, Monday
New tax cuts take effect today

A series of new tax reductions introduced by the government as part of a fifth stimulus package to address the negative effects of the ongoing global financial crisis take effect today.
With the new tax reductions, to be in place for a three-month period, until June 30, the government has decided to decrease fees on title deeds to 0.5 percent, cut the value-added tax (KDV) on furniture and electronics from 18 percent to 8 percent, reduce the KDV on office machines used by small and medium-sized enterprises (SMEs) to 8 percent and decrease the real estate tax to 8 percent. The decision was published in the Official Gazette's Sunday edition and enters into force today.
Representatives from the business world have expressed their belief that the new stimulus package will help reinvigorate ailing markets while emphasizing that the government should extend incentives to various sectors and with longer terms.
Following a fourth stimulus package, which cut taxes on vehicles, real estate and home appliances, representatives from other sectors spoke up, demanding a reduction in KDV rates to help sell their inventory.
For solicitors etc From the the Official Gazete
Tapu
T.C. Resmi Gazete
machines
T.C. Resmi Gazete

 

[PASH]

I am now confused! i am about to get a tapu on two properties, each 75sqm, do they qualify for the tax relief or is it as stated previously on here, only on properties over 150sqm?? I would not like to give the full 3% over to my lawyer incase i never see it again and would rather be armed with accurate information when i see him next week

Many thanks for any advice

 

[Dalaman Deli]

We completed a Turkish sale last week and the deeds tax was 1%, instead of 3%

 

[newhorizon]

We completed a Turkish sale last week and the deeds tax was 1%, instead of 3%

What was the area of the property?

 

[stephenbrown]

So the reduction to 0.5 must be for the buyer and the seller ..hence the 1%

 

[Lindacm]

We completed a Turkish sale last week and the deeds tax was 1%, instead of 3%

Hi Dalaman Deli,

We would like to change the tapu on our house from joint ownership to single ownership. When we looked at doing this back in Jan; it was going to cost too much.

With all the current changes do you know what the procedure & costs would be now?

:thanks:

Linda