The Communiqué on the Procedures and Principles Regarding Valuable House Tax was published
Through the Law No.7194, Valuable House Tax (“VHT”) application was enacted. Accordingly, residential properties within the borders of Turkey that have a building tax value of more than TRY 5 million for 2020 (TRY 5.227.000 for 2021) are subject to VHT. The implementation of VHT has started as of 2021.
Through the Valuable House Tax General Communiqué (“VHT Communiqué”) published in the Official Gazette dated 15 January 2021 and No. 31365, procedures and principles regarding the VHT liability were regulated. Through the VHT Communiqué, details on the following issues were regulated:
- Subject, tax value and residential real estate concept of the VHT
- Taxpayer, the beginning and ending of the tax liability
- Tax base and rate
- Tax return, payment term and place of payment
You may find the full text of the VHT Communiqué here.
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