Valuable Housing Tax Return Application Deadline is Approaching

The declaration process of the taxpayers who will pay the valuable housing tax is about to come to an end.

The first payments will be made in 2021 for the valuable housing tax, which was issued in the past years but was postponed. Citizens who own valuable housing must submit a declaration. The declaration procedures and all the things to know about the tax payments to be made afterwards are as follows.

VALUABLE HOUSING TAX DECLARATION PROCESS

The valuable housing tax, which was implemented in 2020 but delayed later, will be paid as of 2021. Valuable housing tax will be paid for residential properties whose value exceeds 5 million TL. For the first installment of the payments, the process will continue until March 1. A declaration must be submitted before tax payments. According to the announced legislation; The taxpayers' filing period for valuable housing tax will expire on 22 February.

WHERE WILL THE VALUABLE HOUSING TAX DECLARATIONS BE GIVEN?

There are documents that must be compiled by citizens who will submit a valuable housing tax return. The taxpayers will submit their declarations to the tax office by attaching the document showing the building tax value (regarding the year for which the declaration was submitted and the previous year) received from the municipality of the place where the residential property is located.

In addition to the tax office, valuable housing tax returns can also be transmitted via electronic channels. Valuable homeowners can also submit their tax applications in the form of an e-declaration by signing contracts with independent accountants, independent accountants and certified public accountants.

Tax Administration Launches Implementation

The application has been initiated on the official website of the Revenue Administration for the valuable housing tax returns of taxpayers. On the official website of the TA, taxpayers can submit their declarations either personally or through authorized professionals.

TAX PAYMENT DATES

Citizens who submit a declaration for tax payments will then make their first installment payments. After the declaration process, which will expire on February 22, the first installment payments of valuable housing tax will be paid. According to the announced calendar, the first installment payments of valuable housing tax will continue until March 1.

FOR WHICH HOUSES DOES THE VALUABLE HOUSING TAX APPLY?

Valuable housing tax payments do not apply to all dwellings. Within the scope of the application, a tax of 3 per thousand will be paid for the part exceeding 5 million lira for dwellings with a value between 5 million lira and 7.5 million lira. If the value of the dwelling is up to 10 million lira, the tax will be paid as 7,500 lira for 7.5 million lira and 6 per thousand for the surplus. If the value of the residence is 10 million lira and above, 22 thousand 500 lira for 10 million lira and 10 per thousand tax will be paid for the excess.