Inheritance and Gifts Taxes ?


     Turkish citizens are subject to inheritance and gift tax on worldwide assets received. Foreigners resident in Turkey are liable to inheritance tax and gift tax on worldwide assets received from Turkish citizens and on assets located in Turkey. Non resident foreigners are subject to inheritance and gift tax only on assets located in Turkey.
     The tax rates usually vary between 1% and 30%  depending on the residence status of the recipient and the location of the property.
    The tax is payable over 3 years, in May and November.

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