The Ministry of Finance has gone into the field: intensive inspections of property owners have begun
The Ministry of Finance has started field checks: intensive inspections of property owners for tax declarations.
Finance Minister Mehmet Şimşek made a statement regarding the income tax declaration process for 2024. He emphasized that new analytical methods will be used to prevent tax losses and combat the informal economy. Şimşek stressed the importance of accurately declaring earned income for ensuring tax fairness. He reminded that income tax returns must be submitted by April 2, 2024, and called for maximum compliance from taxpayers regarding tax obligations.
2024 INCOME TAX DECLARATION PERIOD HAS BEGUN
According to the Ministry of Finance, the 2024 income tax returns, covering commercial, agricultural, and freelance earnings, rental income, salaries, capital gains, and other income, should be submitted by Wednesday, April 2, 2024. Taxpayers are reminded to fully comply with their obligations during the annual declaration process in March.
The Ministry is taking various measures to inform the public about the completeness and accuracy of declarations, while the Revenue Administration (GİB) is increasing on-the-ground inspections, particularly for rental and commercial income.
INCREASED INSPECTIONS IN FIGHT AGAINST TAX EVASION
Minister Şimşek announced that field inspections will be increased in the fight against tax evasion, and risky sectors will be identified for stricter monitoring through advanced analytical techniques. He added that the “invitation for explanation” mechanism will be actively used to prevent incorrect or incomplete declarations.
In this context, taxpayers suspected of tax evasion will be individually invited for clarification. If deficiencies or suspicious situations are identified in the declarations, the authorities will request explanations. Şimşek also stated that Revenue Administration officials are visiting all provinces to raise awareness about the declaration process and are committed to fighting tax losses.
INTENSIFIED RENTAL INCOME INSPECTIONS
Last year, the Revenue Administration received approximately 1.8 million tax returns for rental income, salaries, and capital gains. This year, the number is expected to exceed 2 million. Inspections to identify property owners receiving rental income have been intensified.
In 2024, 1.5 million residential properties were analyzed, and actual checks were conducted in 425,000 homes. As a result of these efforts, 376,000 new taxpayers submitted their declarations. Additionally, 38,000 people voluntarily filled out the "Rental Declaration Form." Through these declarations, 20,000 taxpayers who had not submitted rental income returns were identified, and legal proceedings were initiated. As a result, the number of taxpayers submitting declarations in 2024 increased by 26% compared to the previous year.
INSPECTIONS FOR UNDERDECLARATION OF RENTAL INCOME
The Revenue Administration will investigate taxpayers who do not declare rental income at its real value. In rental income inspections in 2023, a tax base of 399.2 billion TL was declared, and 126.9 billion TL in taxes was calculated, which represents a 107% increase compared to the previous year.
55,000 taxpayers who underreported rental income from previous years were identified, and they were required to submit declarations. These taxpayers declared 3.1 billion TL in rental income. Similar inspections will continue throughout 2024, and taxpayers who underreport will face serious penalties.
SMS REMINDERS SENT TO TAXPAYERS
The Revenue Administration sent SMS reminders to 1.5 million taxpayers to encourage them to fulfill their obligations.
Among those receiving SMS reminders:
Property owners earning rental income above the exemption threshold,
Individuals earning over 3 million TL in salary from a single employer,
Individuals who earned capital gains from real estate transactions within the last 5 years,
Individuals earning income from dividends.
Additionally, SMS reminders about the declaration period were sent to 2.9 million taxpayers.
