Income tax on rent, worked example, in Turkey
| Non-resident couple´s joint monthly rental income1 | €1,500 | €6,000 | €12,000 | |
| Annual Rental Income | 18,000 | 72,000 | 144,000 | |
| Less Standard deductor(25%) | 4,500 | 18,000 | 36,000 | |
| = Taxable Income | 13,500 | 54,000 | 108,000 | |
| Income Tax Rates4 | ||||
| Up to TRY 24,000 | 15% | 1,200 | 1,200 | 1,200 |
| TRY24,000 - TRY 53,000 | 20% | 1,933 | 1,933 | 1,933 |
| TRY53,000 - TRY 130,000 | 27% | 90 | 6,930 | 6,930 |
| TRY130,000 - TRY 650,000 | 35% | - | 10,033 | 35,233 |
| Over TRY 650,000 | 40% | - | - | - |
| Annual Income Tax Due | 3,223 | 20,097 | 45,297 | |
| Tax Due as % of Gross Income | 17.91% | 27.91% | 31.46% | |
| Source: Global Property Guide |
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Notes
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 EUR = 3.00 TRY
3 A lump-sum standard deduction of 25% of the gross income may be deducted to account for income-generating expenses.
4 ncome tax rates applied to rental income for 2019 are as follows:
INCOME TAX 2019 - OTHER INCOME |
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| TAXABLE INCOME, YTL (€) | TAX RATE | |
| Up to 24,000 (€ 8,000 ) | 15% | |
| 24,000 53,000 (€ 17,667 ) | 20% on band over €8,000 | |
| 53,000 130,000 (€ 43,333 ) | 27% on band over €8,000 | |
| 130,000 650,000 (€ 216,667 ) | 35% on all income over €17,667 | |
| Over 650,000 (€ 216,667 ) | 40% on band over €216,667 | |
| Source: Global Property Guide | ||