Real estate investment is like the stock market. Speculation is very clear. The moisture is turned off or a star shines. A newly built real estate in a part of the city can suddenly change everything. In general, when the market is stagnant, prices may decline in some regions of the city, while some regions may gain a lot of value. After a while, the situation may be reversed. During the purchase and sale of real estate, a low price may cause serious problems in the future. First, let us explain the problems that most people are not aware of especially simple citizens. Then let’s show the solution.
What Is The Problems?
1) Fee for the Mortar: The Fee paid over the lower value may be requested as a penalty over the actual sales price determined subsequently.
2) Sales in Five Years: Gains arising from the exclusion of the property within five years from the acquisition date (four years from the acquisitions prior to 1 January 2007) are subject to taxation as “gain on valuation” (Revenue Tax Law, Art. 6). When the purchase price is low, the sales gain is higher than the truth. After all, more taxes are paid.
The Ministry of Finance has an Internal Circular on Tax Procedure Law numbered 1989/7 on those in this situation. According to the statement made by the circular;
In cases where the purchase or sale price of the real estate is low, it is possible to declare the real value with regret according to Article 371 of the Tax Procedure Law. In this case, those who pay within 15 days from the date of notification of the petition will increase the value of the real estate to be the title deed of the title deed.
It is also possible to get rid of taxes and penalties in the future due to revenge or institutional taxation in the face of regret petition.
The tax time limit is five years. Finance can steal the door of real-estate buyers at any time during this time. Those who do not want to be restless and do not want to pay tax with penalty seem to be the healthiest way to be at the front with regret.