Capital Gains Tax?
From 1st January 2003 to 31 December 2008, gains made by individuals on the sale of residential property are exempt provided the property has been held for at least 4 years. This 4 year requirement does not apply if the property was inherited.
Otherwise, gains are taxed as ordinary income according to the scale rates shown above.
Individuals (residents and non residents) are not required to file a tax return to report their capital gains, regardless of the amount of gains, if they arise from the disposal of the following assets:
Shares acquired for no consideration (by inheritance or gift).
Shares listed on a Turkish stock exchange that have been held for at least 3 months.
Shares issued by a Turkish AS company that have been held for at least 1 year.
There is an annual capital gains tax exemption of 10 000 YTL