The new tax package approved by the Turkish Grand National Assembly took effect after being published in the Official Gazette. According to regulations, fees will be charged for vehicle purchase and transfer transactions. The property tax increase rate will be limited to 100%. The package aims to create 250 billion lira resources for the public.
With the tax package taking effect after being published in the Official Gazette, annual tax fees will be collected from jewelry making activities, used car sales, documents of some private medical organizations and precious metals and livestock business licenses.
With the regulation, to counter high increases in real estate taxes, the value of houses and land calculated for 2026 will not exceed 2 times the tax value of 2025. Cities will not be able to demand higher prices.
Property tax values will be increased annually by an assessment rate based on the previous year's tax value.
FEES WILL BE CHARGED FROM THE SALE OF THE VEHICLE
The exemption for selling and transferring registered vehicles will also be abolished. A fair notary fee will be charged on the sale and transfer price of these transactions provided that it is not less than one thousand liras. A fee of two thousandths will be collected from the sale of new and used vehicles.
INCREASED PENALTY FOR FALSE STATEMENTS
The 25 percent penalty for making false statements in real estate sales has been increased by a factor of one.
Income tax exemption will be abolished for residential rental income, except for pensioners and those receiving widow and orphan benefits. People outside this group will have to pay tax regardless of their rental income.
With the new regulations, the deduction of interest on debts used to purchase goods and rental rights, excluding housing, as a cost in determining rental income will cease. Taxpayers' income will now be determined for periods of 3, 6, 9 and 12 months and provisional tax returns will be issued for the last quarter of the year.
The upper limit on premium income has been increased from 7.5 times the minimum wage to 9 times.
VAT exemption will apply in UEFA organisations. Additionally, with the change implemented, entities generating income from UEFA entities will be exempt from Income Tax and Corporate Tax.
The deadline for late check applications has been extended from December 31, 2025 to December 31, 2028.
