REAL ESTATE EXEMPTION BEING ABOLISHED

A New Era Begins in the Real Estate Sales Profit Exemption – A 35-Year Practice Is Coming to an End. The exemption for existing real estate is reduced from 50% to 25%. There is no exemption for newly acquired real estate!

With the bill submitted to the Grand National Assembly of Turkey on 5 July 2023, corporate tax rates increased for 2023 and subsequent years.

At the same time, the Real Estate Sales Profit Exemption that has been in place for nearly 35 years was eliminated for newly acquired properties, and will be applied at 25% for existing real estate. The practice of partial demerger for real estate will also end by year-end 2023.