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Vat on title deed transfer

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Naas26


Joined: 23/04/2007
Posts: 128

Message Posted:
16/11/2009 18:54

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Message 1 of 10 in Discussion

Solicitors seem to look for the Vat on title deeds to be paid to them in Sterling. To me this does not make sense surely as the currencies of country tax is payable in Turkish Lira.

Are the solicitors doing this for the interest on the money if it is in their accounts or am I too cynical ?

Have people insisted to their solicitor on paying in Lira .



Regards



Naas26



kibrissibel


Joined: 18/02/2008
Posts: 562

Message Posted:
16/11/2009 19:05

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Message 2 of 10 in Discussion

The sales contracts to British people are in English STG. The KDV is 5% of the contract price and is worked out by the tax office in STG not YTL. The property transfer tax payable to land registry at date of transfer is paid in YTL.



MarkVPiazza


Joined: 14/08/2008
Posts: 530

Message Posted:
17/11/2009 10:16

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Message 3 of 10 in Discussion

It's 5% of the value of the contract, if the contract is in , this is converted to TL at the exchange rate at the time the contract was signed



This is then re-converted into , and you pay in TL based on the days exchange rate



I would be interested if anyone has benefited from this method !



Mark



ozankoys


Joined: 20/06/2008
Posts: 905

Message Posted:
17/11/2009 10:17

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Message 4 of 10 in Discussion

Apparently if it works out to the Purchaser's benefit they change the method of calculation!



cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
17/11/2009 10:35

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Message 5 of 10 in Discussion

There are two different taxes being discussed here the first KDV (VAT) is payable in stg which is 5% of the contract price, the second transfer tax is converted to YTL at the rate it was at the time the contract was signed & then payed in either STG or YTL.



Ive almost confused myself now

Cooper



MrsSnakes



Joined: 19/12/2008
Posts: 1100

Message Posted:
17/11/2009 11:03

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Message 6 of 10 in Discussion

Is there a website I could look at to find the exchange rate for September 2008 please? I can only seem to find details of up to a year ago. Many thanks.



cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
17/11/2009 11:18

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Message 7 of 10 in Discussion

This one should do the trick - http://www.oanda.com/convert/fxhistory



Cooper



MrsSnakes



Joined: 19/12/2008
Posts: 1100

Message Posted:
17/11/2009 12:04

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Message 8 of 10 in Discussion

Cooper, That is a fab site and easy to use, thank you. I popped it into my favorites.



Mrs Snakes



breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
17/11/2009 17:38

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Message 9 of 10 in Discussion

From my notes at Garanti rates it varied a lot that month stating at 2.11( the lowest figure I recoreded since 2005) and ending the month at 2.28



MrsSnakes



Joined: 19/12/2008
Posts: 1100

Message Posted:
17/11/2009 17:43

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Message 10 of 10 in Discussion

Hi BB



I signed my contract on 24th Sept 2008. What rate did you record for that day please?



Many thanks



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