PTP and Purchase Tax

Al the Badger


Joined: 06/02/2008
Posts: 130

Message Posted:
28/04/2010 16:41

Could someone please help me out here. I have just been advised that my PTP is finally through. Good, I thought. Then I was informed that I now have to pay some huge amount of YTL as Purchase Tax. Christ, I thought !! I also have the customary inflated legal bill but this bit I expected.

Perhaps I had forgotten this, I have been waiting 4 years after all, but could someone please confirm to me that Purchase Tax (plus VAT) is indeed due on granting of the PTP and advise at what percentage this is calculated.

ozankoys


Joined: 20/06/2008
Posts: 905

Message Posted:
28/04/2010 18:09

Hi of course you must pay Purchase Tax but would advise waiting a little while to see if the new government re-introduces the discount which reduced the rate to 0.75% instead of 3% as a one only concession.

Al the Badger


Joined: 06/02/2008
Posts: 130

Message Posted:
28/04/2010 18:18

Thanks ozankoys but the amount I have been quoted equates to nigh on 20%. I am awaiting a breakdown from my solicitor. There may be other things hidden in there. On the matter of holding back hoping for a reduction, I presume the PTP just sits there awaiting settlement rather than going back in the queue. If so, I am inclined to wait and see.

Al the Badger


Joined: 06/02/2008
Posts: 130

Message Posted:
28/04/2010 18:20

Correction, I am confusing YTL and GBP. The amount quoted equates to 10% not 20.

McSteviet



Joined: 11/05/2007
Posts: 1089

Message Posted:
28/04/2010 19:37

Al,



Must be something in the water, I got my last week too.....



Mc

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
28/04/2010 19:41

Al don't worry about waiting. We have had PTP since 2006 and haven't paid any taxes yet.

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
28/04/2010 19:56

Sit it out they have no money, a reduced rate again to get funds flowing again must be a dead cert.

Al the Badger


Joined: 06/02/2008
Posts: 130

Message Posted:
28/04/2010 20:24

Thanks to all. Sit it out I shall. Congrats on getting yours also, Steve. They probably do them in job lots !!

judyr


Joined: 07/07/2009
Posts: 956

Message Posted:
02/05/2010 17:13

Hi, Please can someone tell me how long it is taking to get PTP. I bought my Villa and the dees were already issued in the previous owners name and all taxes were paid.

stellasstar1



Joined: 02/07/2008
Posts: 1519

Message Posted:
02/05/2010 20:58

Apparently mine was all ready and sent down for signing last November, and am still waiting. Been waiting in total just over 3 years.