- VAT Exemptions for UEFA Events: The proposed legislation includes a temporary exemption from value-added tax (VAT) for participants and organizations involved in the 2026 UEFA Europa League Final, the 2027 UEFA Conference League Final, and the 2032 UEFA European Championship. This exemption applies to goods and services related to these events, allowing for the deduction and refund of VAT incurred.
- Changes to Real Estate Transactions: The draft law stipulates that the transfer of real estate must be declared at a value not less than the property tax value, with penalties for underreporting. This aims to ensure accurate reporting of real estate transactions and combat tax evasion.
- Adjustments to Income Tax Exemptions: The legislation proposes maintaining income tax exemptions for rental income from residential properties owned by retirees receiving pensions from social security institutions, while also addressing discrepancies in tax treatment between properties purchased with loans versus those bought outright, aiming for fairer taxation practices.
Source gov.tr
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