Usufruct

The inspection mechanism of the Independent Authority for Public Revenue is looking out for properties that have not been declared to the tax authorities, and particularly assets belonging to state debtors.

The government is setting a trap for owners of real estate with its new plan regarding property taxation: Sources say that through the replacement of the Single Property Tax (ENFIA) with the Large Property Tax (FMAP), the government is aiming to catch owners who made parental concessions or transferred the bare ownership or the usufruct to relatives so as to reduce the Supplementary Property Ta

Some 2,000 of 13,000 fuel stations in Turkey have been put up for sale as the renewal date for usufruct right contracts approaches in the sector amid complaints about low profits following a recent regulation limiting the expiry dates of usufruct contracts to five years from 15-20 years.