| Date: | Saturday, May 28, 2022 |
The Ministry of Finance and Treasury examined the declared values ??of real estate sales in terms of title deed fees
The Ministry of Finance begins monitoring housing prices in Turkey
The Ministry of Finance and Treasury examined the declared values in real estate sales in terms of Tapu fees.
It is expected that the process of calling for clarification to taxpayers who have a difference between the loan used and the announced fee base will begin.
According to information received from the Ministry of Treasury and Finance; While efforts are being made to combat unfair and unofficial price formations, real estate sales and rental transactions are also closely monitored.
And by taking action on the rise in real estate prices and housing rents, the Ministry will impose an obligation to provide information on advertising websites on the Internet in order to more easily access information that will support the work performed to identify events and transactions that are subject to tax in the current period and take the necessary actions.
It is reported that a statement is being prepared regarding obtaining the above-mentioned information.
According to the Tax Procedures Law, natural and legal persons are required to provide the information requested in writing by the Ministry or the Tax Office regarding tax-related events.
With the planned regulation, comprehensive information will be obtained from these websites regarding advertisements submitted to websites for the sale or rental of movables and real estate.
The information in question will also be examined within the framework of tax legislation, will be subject to risk analysis and necessary actions will be taken.
7,000 people will be invited to interpret
While examining the values declared while selling the property in terms of title deed fees, studies continue to determine if the buying and selling price is low.
In this context, while the ministry deals with sales in 2019 and 2020 in the first phase, tests are continuing to see if the fee basis has been announced correctly.
As a result of analyzes made on the basis of bank loan information regarding the mentioned years, the Ministry identified taxpayers who purchased real estate using loans and who had a difference between the loan amount and the declared fee base.
Fundamental differences were also identified between the loan amount and the purchase price of the property. It was noted that these differences amounted to 40 times the declared amount in some sales transactions.
Within this framework, in the first stage, a “call for interpretation” process will be conducted for about 7,000 people and the unpaid fees will be collected.
Other results of the meeting
According to what was reported by Turkish media, several results were reached in the meeting, including:
-Public housing will be built by the Housing Development Agency, municipalities and some companies.
-Punishing those who raise rental prices more than the consumer price index.
-Setting a ceiling on the highest prices that can be achieved by housing in major cities.
-Increase in the rents of tenants who live in the same home for up to five years according to the consumer price index.
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