How will VAT Exemption occur for Foreign Citizens in Turkey
The amendments made in the Income Tax Law allow foreign citizens to buy real estate with VAT exemption. Accordingly, foreigners who did not pay VAT when buying real estate from Turkey will not pay VAT when they buy real estate from April 1, 2017. In addition, the citizenship will be given to the foreigners who buys $ 1 million real estate in Turkey. This opportunity for foreigners applies only to housing and business purchases.
How to benefit from VAT exemption
According to the Law No. 6824 on the Restructuring of Certain Receivables and Changes in Decrees on Certain Laws, the foreigners who want to buy real estate do not pay VAT according to the regulations of Fee and Value Added Tax, Income Tax and Stamp Tax. VAT exemption of foreign citizens is not considered valid for land, land and field purchases outside of workplace and housing purchases.