My appartment in Bodrum is now complete and assuming I get any rentals I presumably need to register myself for the equivalent of income tax and upon an eventual sale, CGT.

My lawyer is getting me a tax reference. How do I register for annual tax ?

I am an accountant so happy to do the sums myself, but do not know Turkish. Will I have to employ a local accountant ?

Any other advice about tax in Tukey?

Thanks
PS I will soon have properties in other countries, does nayone know of a UK company that would be able to do all my returns?

There are some great guides available through the Turkish embassy site. In respect of rental income there are 2 methods of working out your tax liability, a lump sum method and an actual expenditure method. If you are doing short term lets I have found the actual expenditure method is the best one to go with.

chris

Chris - thanks
I couldnt find the guides on the embassy website but did find a link for the Turkish Inland revenue equivalent - in English!!
::GIB English Frontpage::

Guide for tax payable on rental income for Non-Turkish people http://www.gib.gov.tr/fileadmin/beya...kellef_ing.pdf

has anyone completed forms? Is it easy? did you do it yourself?

If you rent your home out, there’s an Income Tax to be paid once a year. If your rental income exceeds 2200 ytl per year, the exceeding amount (minus a flat rate of 25% for maintenance expenses), is liable to a tax of 20%. This tax can be paid in two instalments (end of March, end of July).

If you own an immovable property, you have to pay Real Estate Tax (emlak vergisi). Emlak Vergisi is paid in two instalments, end of May and end of November, at the municipal property office (belediye emlak servisi). The tax is calculated according to the value that the municipality fixes for that particular property. The percentage is 1% for private houses.

You will have to pay Capital Gains Tax (kiymet artisi vergisi), of between 10-20% depending on whether the seller is a person or a company but nothing to py after 5 years.