Turkish Finance Minister Naci Agbal has recently announced that they are launching VAT exemption on the sale of properties to foreigners.
The Minister says that if a foreign person or entity (company etc.) purchases a property from Turkish contraction companies VAT exemption will be applied hence foreigners will not be required to pay VAT. The Minister further stated that the VAT exemption will be applicable to Turkish citizens who are resident in foreign countries as well.
With the change of relevant legislation, the Minister expects the exemption to provide growth in construction sector and economy.
If you are going to purchase a property in Turkey, please contact our team to find out how you could benefit from VAT exemption.