Capital Gains made from the sale of a property will be taxable in Turkey if
the owner is a Company. Individuals do not have to pay Capital Gains Tax,
provided they have owned the property for four years.

In the UK capital gains may be taxable depending on the individual’s
situation. Current tax conditions were originally agreed in a double taxation
treaty signed in 1986.

These were amended in October 1988 and cover the reciprocal agreement
relation to income tax and corporation tax in Turkey and income, corporation and
capital gains taxes in the UK.

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