Example: Taxpayer (A), living in Germany, leased out his flat in Ankara and obtained 15.000 € as rental income in 2018. He preferred the lumpsum expenses method and he has no other income to declare in Turkey. On the date of collection, buying rate for Euro announced by The Central Bank of Republic of Turkey is assumed as 6 TL.
Income tax for rental income of taxpayer is calculated as follows:
| Total Gross Revenue (15.000 € x 6 TL) | 90.000 TL |
| Amount of exception | 4.400 TL
|
| Balance (90.000-4.400) | 85.600 TL
|
| Lump-sum Expenses | (85.600 x 15%) 12.840 TL
|
| Taxable Income | (85.600 – 12.480) 72.760 TL
|
| Amount of income tax calculated | 16.525,20 TL
|
| Amount of income tax payable | 16.525,20 TL |
| Stamp duty | 72,70 TL |
Source: GİB
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