Taxation Guide For Rental Income Earners In 2016

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As is known, for those who earn rent income, March is the month of declaration. Income derived from the payment of the goods and rights specified in the Income Tax Law to the rent is expressed as “immovable capital income” and is subject to income tax on certain conditions.

What Does Rent Income Mean?

The income from rent income is based on the collection principle and must be collected in cash or in kind for the taxation of rental income on the basis of collection.

rental-income-in-turkey

Collection And Payment Of Payments To The Bank Is Mandatory?

Those who get monthly rental income of 500 TL or more for each residence in their houses, the punishment for those who do not comply with the said obligations is 5% of the amount of this transaction for each transaction.

What Is The Exemption For Housing Rent Income, Is It Possible To Obtain Rent Income And To Declare It Legally?

There is no need for taxpayers to file a tax return and to file a tax return if they obtain rental income below the TL 3,800 exemption amount determined for the year 2016.

Which Expenses Can Be Deducted From Rent Income?

  • Method of Expenditure Expense (Except those who rent the rights)
  • Actual Expense Method

Taxpayers who choose the expense deduction method can deduct 25% of the remaining amount from the rent income after the deduction of the exemption amount, in return for the actual expenses. Those who give rights to rent can not apply the expense method.

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