04.04.2025 14:52
The deadline for those renting out their homes to submit their income tax returns will end on April 7. Those who do not submit their returns on time will face penalties.
According to the information obtained from the Revenue Administration (GİB), the period for income tax taxpayers to submit their declarations and make payments for the year 2024 is ongoing.
Due to the requests received for the Ramadan Feast, the declaration submission period was extended from April 2 to April 7. Income tax taxpayers who are taxed under the real method due to their commercial, agricultural, and professional activities can submit their annual income tax declarations electronically.
Taxpayers whose income consists solely of wages, rents, capital gains, or one or more of other earnings and revenues can easily and securely fill out their annual income tax declarations through the "Digital Tax Office (Ready Declaration System)."
THOSE WHO EARN MORE THAN 33 THOUSAND LIRA IN RENT FROM THEIR RESIDENTIAL PROPERTIES WILL PAY TAX
Property owners who earn income from real estate are also required to submit their rental declarations by April 7.
In this context, real estate owners who earn at least 33 thousand lira annually from residential properties and 230 thousand lira from business premises in 2024 will pay income tax. Those who earn rental income below the exemption amount will not be required to submit a declaration.
PENALTY FOR NOT SUBMITTING THE DECLARATION ON TIME
Taxpayers can pay their taxes through the "gib.gov.tr" website belonging to GİB, the Digital Tax Office, and the GİB mobile application, using bank credit cards or accounts from contracted banks, or with cards from banks operating in foreign countries. Payments can also be made through branches of contracted banks, alternative channels such as internet, telephone, and mobile banking, as well as from PTT branches. Additionally, payments can be made at all tax offices.
The income tax accrued from the annual income tax declarations to be submitted for the earnings obtained in the 2024 calendar year can be paid in two equal installments in April and July of 2025. The first installment, along with the stamp tax, can be paid by April 7, and the second installment can be paid by July 31.
If the declaration that needs to be submitted electronically is not submitted within the legal period, a special procedural penalty will be imposed on the taxpayers. Additionally, if the tax is not accrued on time, a tax loss penalty and late interest will also be applied for the tax.