Each year, the rental income earned by real persons are declared to the respective tax office with the Annual Income Declaration until the end of March (for 2023 income, 31st of March, 2024). The types of income that are within the scope of moveable assets except the rental income, are stated in the Income Tax Law Number 70. In order to declare the rent income, the lump sum expense method and actual expense method are implemented. As of 2022 tax year, for the rental income, the ratio of 15% would be used for lump sum expense calculations. In the below table, the related details are provided for rental income from residential and commercial places. For further detailed information please contact your customer representative or an expert.

General Communiqué of General Directorate of Accounting (Sequence No: 87) was published in the Official Gazette numbered 32455 on February 9, 2024.

The purpose of the Communiqué is to determine the monetary limits and unit prices to be applied within the scope of the Public Financial Management and Control Law and other legislation.

The relevant Communiqué has published the monetary limits and unit prices in its Annex and the monetary limits are shown in a table.

In accordance with the letter of the Ministry of Treasury and Finance, General Directorate of Public Financial Management and Transformation dated January 5, 2024 and numbered 27998389-010.06.02-2774790, the expense limits exempt from income tax for the period of January 1, 2024 – June 30, 2024 has been announced.

The Tax-Exempt Amounts of Domestic Travel Expenses

The tax-exempt amounts of domestic travel allowances for the period of January 1, 2024 and June 30, 2024 are as below:

In the Official Gazette dated January 19, 2024 and numbered 32434, the decision of the Council of State Board of Tax Appeals Chambers File No. 2023/3 and Decision No. 2023/5 was published.