The incentives, which is so important for foreign investors, white goods and reduced excise tax in the furniture and a short time to benefit from the VAT discount remained. The VAT, excise tax and title deed fees discount will continue until the the end of the year.
The tax cuts to stimulate the economy and stimulate the housing sector expired on March 31st. In order to alleviate the fluctuations in the markets, the temporary VAT, SCT and title deed deduction period was extended to 31 December with the decision of the President.
In the face of inadequate measures to overcome the economic difficulties experienced in the Pyasas, VAT, SCT and land registry fees were reduced. With the tax reductions extended from March 31 to December 31, 6.7 percent excise duty on white goods was reset and VAT rate on furniture was reduced from 18 percent to 8 percent.
VAT Rate : 8%
The VAT rate on the delivery of houses larger than 150 square meters has been reduced to 8 percent. The discount does not include residences smaller than 150 square meters. Considering that a house worth 500 thousand pounds was sold with 18 percent VAT, 90 thousand pounds VAT was paid to the citizen before the discount, and 40 thousand pounds would be sufficient with a discount. Thus, 50 thousand pounds of profits can be obtained citizens.
Title Deed Fees Discount
The concept of title deed fees is an important point while purchasing houses in Turkey. The title deed fees rate decreased from 4% to 3% for all housing investors.