The rental declaration and tax payment process in Bodrum outlines the tax obligations that tenants and property owners must comply with, how to submit the declaration, and the steps for tax payment.
Bodrum, not only one of Turkey's most popular holiday and living centers but also offers attractive opportunities for real estate investors. However, there are certain financial obligations that homeowners renting out properties in Bodrum must comply with. The most important of these is the rental income declaration and tax payment process. So, what is a rental declaration, who needs to submit it, and how does the payment process work? Here is our Bodrum-specific guide…
According to the Income Tax Law, all property owners renting out their real estate in Turkey are required to submit a rental declaration if their annual rental income exceeds the specified limit. For the year 2024, this limit has been set at 33,000 TL. If you have rented out your house in Bodrum and your annual rental income is above this limit, you must submit your declaration on time.
The rental income declaration must be submitted between March 1 - March 31. The declaration process can be carried out through the website of the Revenue Administration (GİB), via e-Government, or by visiting the relevant tax office.
If you are renting your house in Bodrum for a short term (daily, weekly, etc.), you should not forget that it may be considered as commercial income when filling out your declaration. Such rentals are taxed differently than residential rental income.
When calculating rental tax, either the lump-sum expense method or the actual expense method can be applied.
Payment Methods:
Rental tax can be paid in two installments, in March and July.
One of the most important issues that homeowners in Bodrum should pay attention to is the consequences of not submitting a rental income declaration. If a rental income that should be declared is not reported to the tax office, a penalty for non-compliance will be applied according to the Tax Procedure Law, and it will be collected with late interest added.
When evaluating your real estate investment in Bodrum, you should also consider your tax obligations. By submitting your rental income declaration on time and accurately, you can avoid penalties and fulfill your financial obligations completely. If you are engaged in short-term rentals, remember that these rentals may be subject to different taxation principles.
