property tax

[herladyship]

Hi there,
I have a question which I hope someone on here will be able to help me with...I have owned a property in Bodrum for around four and a half years, and now I need to sell. A friend of mine has told me that because Ive owned less than five years, I will cop a massive tax of some kind. Does anyone know whether this is true?
many thanks

 

[zozatky]

Look in this site for all your info..

Turkish Economy

 

[christinedavid]

You'll have to pay capital gains tax in Turkey and also in England ( if your gain is more than the CGT allowance). There is a reciprocal agreement though, so you dont pay twice. To be honest, what's the chances of selling your house in less than 6 months?

 

[Martyn]

Also the date you owned it as far as the taxman goes is the date on the Tapu. So if you handed all the money over in 2005 and got your Tapu in 2007(date on it) you only have owned it for two years.

 

[fran1]

You'll have to pay capital gains tax in Turkey and also in England ( if your gain is more than the CGT allowance). There is a reciprocal agreement though, so you dont pay twice. To be honest, what's the chances of selling your house in less than 6 months?

we sold ours in two, and got the asking price for it!