Pursuits
Turkish Home Sales to Be Taxed on Capital Gains, Simsek Says
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Turkey will tax capital gains from real estate sales as part of plans to turn the nation’s budget deficit into a surplus by 2017, according to Finance Minister Mehmet Simsek.
“Income-tax reform includes for the first time some proper taxation of capital gains from real estate,” Simsek said in an interview in London yesterday. House sales jumped 25 percent in October, data published last month showed, while property prices in Istanbul, the nation’s largest city, have increased more than 20 percent in the past 12 months.