23 May 2018

Turkey imposes reduced 5% tax on real estate revaluated under certain conditions

Turkey's General Assembly of Parliament approved Law No. 7144 Regarding Amendment of Certain Laws (the Law) on May 18. The Law introduces a provisionary Article to be included in the Tax Procedural Code regarding the revaluation of real estate. The Law will enter into force following its publication in the Official Gazette.

A Global Tax Alert, attached below, provides additional details.

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Document ID: 2018-1087