TAXATION

Fairly loose in Turkey at the moment, but expect this to change the closer Turkey gets to joining the EU.

Capital gains is payable on any property you sell for a profit within a four year period. After that nothing is owed.

Inheritance tax works on a sliding scale from 1% -10% but there is special dispensation for spouses and children. Special advice should be taken for individual cases. Suffice it to say the rates are not daunting.

There is a reciprocal agreement between the UK and Turkey so far as income tax is concerned, so strictly speaking all rental income should be declared to the Inland Revenue in the U.K., or Turkish tax authorities. By forming a company you can offset all expenses incurred. In Turkey bands vary between 15% and 40% depending on income.