Turkey - Tax evasion rampant in estate sales to foreigners
Inspection of real estate sales has revealed tax fraud on 60.3 percent of total property sales to foreigners, and the Treasury has so far collected YTL 52.1 million by demanding payment from tax evaders.Ministry of Finance Auditing Board Chairman Mahmut Vural noted on Monday that the monitoring of estate sales to foreigners began in accordance with the 2007 Main Operation Plan approved by Finance Minister Kemal Unakıtan. These inspections will continue in cities such as Antalya, Alanya, Didim, Kuşadası and Bodrum, where foreigners purchase the most property. The ministry’s Account Expert Board’s (HUK) Research, Development and Risk Analysis Center is conducting a detailed inquiry to reveal those selling or acting as intermediaries for sellers.
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