House Sales On Credit Are In Depth Investigation

The Department of Finance has carried out a research in order to confirm the real value of the houses which has been sold.

The treasury, has been strictly following the house sales on real estate loans. Severe penalties are fined if there is no correspondence between title deed principal amount and amount of loan and the amount which is determined on the certificate of inspection.

Within this scope, 1.036 taxpayer were investigated and were condemned to pay considerable amounts of money as pecuniary punishment in 2015. Tax Inspection Board (VDK), has performed a study, with reference to banks’ mortgage loan devoted to house sale on credit and deed information, for real valuation of the propertes which has been sold.

According to the study that The Treasury has been carrying out lately, the real estate properties which has been declared based on their real valuations will set an example for the other real estate properties. The Treasury Authorities stated that bank credits which has been used will be check against the declarations and the houses which are sold for an amount of money will be an example and will also be compared to the declarations for the other houses which are sold.

Sale Price Will Set An Example

Declaration for a house which is sold in a luxurious district, will be evaluated as the example fort he other houses in that neighbourhood. If the house has been sold for a certain amount of money and has been declared based on this price and there is no other declaration for other houses, this house which has been submitted a declaration about shall be an example for the other houses.

Moreover, The Treasury Authorities has stated that those taxpayers who don’t use Ready Tax Return System will also be investigated.

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    fatma Written by:

    Fatma Şahin fatmasahin@istanbulinvestments.com

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