Inheritance Tax
Inheritance Tax is an example of wealth taxes applied in two ways;
- In the inheritance procedure, the remaining heritage is taxed as a whole before it is shared among the heirs.
- In the four-party share procedure, instead of being taxed as a whole, the inheritance tax is taxed separately for all.
Inheritance tax is the tax applied on goods belonging to Turkish citizens or goods passed down from one person to another for some reason or the other.
The person should be within the borders of Turkey or should be a Turkish citizen for the tax to apply on these goods. The tax obligation starts on the declaration date when it is mandatory. In the cases in which the declaration is not required, the obligation starts from the day determined by the administration. The liquidation case starts on the completion date of the liquidation proceedings by the court.
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