The guide outlines heirs’ tax obligations, including filing rules, exemptions, thresholds, asset valuation, and related income, VAT, and special consumption tax requirements for 2025.
The Turkish Revenue Administration has issued a guide for heirs detailing obligations under the Inheritance and Transfer Tax Law and related legislation.
The guide explains who is liable, what constitutes a taxable event, key exemptions and the annual thresholds for 2025 (TRY 2,316,628 for children and spouses and TRY 4,636,103 for a surviving spouse as sole heir). It also outlines filing requirements, submission deadlines, and payment schedules.
The guide offers clear guidance on valuing various assets, including real estate, securities, movable property, debts, and claims. It also outlines the progressive tax rates of 1-30% for inheritances, 5-15% for gratuitous transfers, and 20% withholding on prizes and lotteries, as well as procedures for voluntarily disclosing late returns and the penalties that may apply.
Heirs’ responsibilities regarding business succession or closure are addressed, alongside individual income tax obligations in the year of death.
The guide also clarifies VAT treatment for inherited assets and special consumption tax implications for transfers of vehicles acquired with exemptions for disabled persons or veterans, providing a comprehensive reference to ensure compliance with inheritance-related taxes.
