TÜRKIYE Law and Practice Contributed by: Serkan Gül, Nazım O Kurt and Türkay Avanaş, Hergüner Bilgen Üçer Attorney Partnership
8.5 Tax Benefits Depreciation deductions may be made over buildings, facilities, etc, as per the method and rates determined under the legislation (eg, 2% of the building’s annual value). Moreover, expenses incurred for the respective real estate may also be deducted from the income subject to tax. Additionally, real persons can deduct a flat 15% of the income generated from the lease of real property.
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