Unfair tax On Tital Deeds

Castlemilk


Joined: 12/03/2009
Posts: 174

Message Posted:
16/10/2009 09:48

I have been told by my legal Rep. that my deeds are ready for transfer and that the Taxes are are to be converted from Sterling to Turkish Lira.



No problem with that but as I signed up for my house 2004 my legal rep. has said that the taxes will be calculated on the average exchange rate for that year and I will have to pay the taxes at 2.62tl to the pound rather than whatever is todays exchange rate is.



And I have to pay the sub contractor builder £1250 to sign over the deeds to me,by the end of the year or he will not sign the paper work over.



This country just gets better every day.

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
16/10/2009 09:51

Sack your Legal Rep. He/She is talking nonsense!



Richard

kavenkoy


Joined: 10/04/2008
Posts: 1787

Message Posted:
16/10/2009 11:07

they sll find a little extra way of pulling the lira over our eyes .....i had similar case and was 2.43 but for 2005

bit more realistic i suppose



kav

sunnyday


Joined: 14/03/2008
Posts: 269

Message Posted:
16/10/2009 14:18

It depends on which tax office is involved. At kyrenia the taxes (both builders & yours) are calculated on the higher of the contract price converted to TL at the average rate for the year of the contract or the valuation by the land registry. At Famagusta they are paid on the higher of the contract price converted at that days official rate or the valuation.



So if your property is in Kyrenia area, the conversion rate is probably correct.



You should only have to pay to your builder anything properly owed to him ie VAT & any balance on the purchase.



You should not have to pay his stopaj tax.

stellasstar1



Joined: 02/07/2008
Posts: 1519

Message Posted:
16/10/2009 17:25

Yes, I was also told that the lira conversion is calculated for the year that the contract was made.