[Aegean2]

A warning to anyone who is renting out their property: I've received information that tax inspectors are on the hunt for overseas owners who are not declaring rental income. So far, I have reports from the Kalkan area but it's a possibility that the authorities are rolling this out around the property hotspots. Have a look at my blog for more. You can also find info on how much you will need to pay if you are liable.

[bigbadwez]

I do not think that this is completely accurate. As you do not have to pay tax on income in Turkey and the UK.

If you pay tax to the taxman in the UK, then I think that you may be exempt in Turkey. But do not quote me on it. I do have a book that explains but do not have it with me.

I will have a look and update.

[Aegean2]

Firstly, to the person who left a comment on my blog criticizing the post: Fine, if you think you have better information, let everyone (including me) know what you think in this forum or e-mail me via my blog. I don't deliberately set out to mis-inform people and I do try to get the facts straight. Everyone should be aware that taxation issues are always thorny and you will receive contradictory advice, as I have, from experts who are well paid for their time. Also, my blog is intended for all overseas buyers and the taxation issues are different in say, Ireland, than they are in the UK

BigBadWez, yes there's a double taxation agreement which should mean that if your affairs are in order, you won't have to pay in both countries. My post was really to report on information I had received from a source I have no reason to doubt, and to warn people to get their affairs in order. We will need a very long thread to sort out all the problems arising from tax matters!

[bigbadwez]

I had a look into it, and if you pay tax in turkey, you can offsett in in the UK when you pay tax.

I beleive that there is a new law coming in, which states that if you reinvest money from rental income into your pension, you can be exempt from tax.

I am in the process of getting it all in order, and once I know more I may be of more help!

[Aegean2]

I'm going to try and do the same thing but a bit busy with other things right now so if you get something on the UK end, could leave a message on my blog. I'd be grateful.

I think the problem might be that people who have sorted this kind of thing out, might have had to pay a lot of money to 2 different sets of tax advisors so maybe aren't feeling like sharing their knowledge (or is that cynical?). Personally, I don't let a place in Turkey, so it doesn't affect me but it'd be nice to hear from someone who is 'playing by the book' so that we could get a better picture of this issue.

[slimjim]

i am sure there was a link to the apropriate government section handling tax affairs in turkey posted a while back (i think it was claire)
perhaps admin could locate it and post a link (sorry guys)
as i remember the reading of it (but please check )
yes rental income counts as taxable income in turkey
however i am sure it is not due provided proof of payment of taxable % has been paid in own country
in most countries rental income of any type is taxable either as income tax or local tax or both
keep in mind in most of europe the taxation systems allow you to ofset some of the costs related to the mangement and maintanace of the property against any income
my advice contact both a turkish and a local tax advisor for advise

[joy]

try this link to the turkish embassy in london.
www.turkisheconomy.org.uk. investments and double taxation.
Hope this helps.

[Aegean2]

Originally Posted by joy

try this link to the turkish embassy in london.
www.turkisheconomy.org.uk. investments and double taxation.
Hope this helps.

Joy,

The Consulate's Economic section is significantly better than what was on offer last year from London, but it's still a bit difficult to negotiate and, unfortunately, doesn't make announcements about tax inspectors visiting private homes. Still I wish it had been there when I was first looking for information.