Turkey's Revenue Administration has announced the publication of a guide on the tax exemption for the sale of immovable property and participation shares. This includes guidance on the scope, purpose, and necessary conditions for the exemption to be applied, the definition of immovable property and participation shares, etc. Some of the key points are summarized as follows.
For immovable property, a 50% tax exemption is available on the proceeds (gains) from a sale provided that the propert…