ACCORDING TO CORPORATE TAX LAW, IS IT POSSIBLE TO TAKE ADVANTAGE OF THE SALES EXCEPTION IN THE EVENT OF THE SALE OF A (INCOMPLETE) BUILDING BUILT ON A GROUND THAT HAS BEEN HELD IN A COMPANY’S ACTIVE ACCOUNT MORE THAN TWO YEARS?
In case of the sale of building construction built on a ground, which has been held in a company’s active account more than 2 years, before having been completed;
1- 75% of the income gained by the sale of the ground will be subject to Corporate Tax Exemption,
2- The income gained by the sale of a building under construction will not be subject to exemption.
Source: Corporate Tax Law
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