EMBASSY AND CONSULATE BUILDINGS WILL BE EXEMPT FROM HOUSING TAX
The Valuable Housing Tax Application communiqué of the Ministry of Treasury and Finance Revenue Administration entered into force with an announcement in the Official Gazette. No tax, however, will be collected from residential real estate valued below TRY 5m. According to the communiqué, the concept of “residential real estate” refers to buildings with residential properties and each independent section in buildings consisting of more than one independent section. Each independent section is evaluated separately in terms of taxation. In evaluating whether immovable property has the characteristics of residence, the actual usage status of the immovable will be considered as well as the records. The tax value of the buildings will be provided by the municipal authorities in the place where the real estate is located.
Residential immovables belonging to foreign states and used as embassies and consulates and residential immovables for the residence of ambassadors and their outbuildings will be exempt from valuable housing tax.
DUMPING INVESTIGATION INTO FLAT STEEL PRODUCTS FROM EU AND SOUTH KOREA
A dumping investigation has been opened for “alloyed or unalloyed hot rolled flat steel products (except plate) that have not been subjected to any coating process” originating from the European Union (EU) and South Korea. The communiqué of the Ministry of Trade on the Prevention of Unfair Competition in Imports was published in the Official Gazette and entered into force.
The evaluation made by using the information, documents and evidences regarding the damage were provided by domestic producers. Accordingly, it was understood that the profitability of domestic producers decreased significantly due to the higher rate of decrease in unit prices despite the significant decrease in unit costs in 2018 Q4, 2019 Q4 and 2020 Q3. Consequently, deterioration was experienced in economic indicators, read in the evaluation. The EU and South Korea are at the top of the global market in in terms of production capacity and export capability of flat steel products. In the light of the evidence presented at the application stage and the determinations made on the basis of official statistics on imports, it was evaluated that the alleged dumped imports of EU and South Korea caused material damage in the economic indicators of domestic producers in Turkey.
The investigation was started with an application by the Association of Steel Producers (TCUD) on behalf of domestic producers such as Eregli Demir ve Celik, Colakoglu Metalurji, Habas Sinai and Toscelik.
TRY 279.3M WORTH PROPERTY ON SALE BY SGK
The Social Security Institution (SGK) is selling 36 immovables located in the center and various districts of Ankara, Bursa, Diyarbakir, Bolu, Corum, Denizli, Erzurum, Izmir, Istanbul, Rize, Konya, Samsun, Sinop and Sakarya for an estimated price of TRY 279.3m. According to the announcement published in the Official Gazette, the tender will be held by auction. Those who want to participate in the tender must deliver bids and documents to the Social Security Institution Construction and Real Estate Department in Ankara by 5:00pm on the working day before the tender. Tenders will be held on February 2, 3, 4 and 5, 2021 between 9:30am-3:30pm.
IMMOVABLES WORTH TRY 32M ON TENDER FROM BURSA YILDIRIM MUNICIPALITY
The slaughterhouse in Isabey district of Bursa, with an area of 53,245 square meters, has been put on tender for an estimated TRY 32m by Yildirim District Municipality. According to the announcement of the Yildirim Municipality, published in the Official Gazette, real estate worth TRY 2.3m is situated on the land put up for sale. The property has a 29-year right of easement in favor of Yildirim Et Entegre Sanayi Ticaret AS, which will end on September 29, 2034. The tender will be held on January 26, 2021 at 2:30pm at the municipal council. Potential bidders must deliver the required documents to the Tender Department of the Financial Services Directorate by the tender date and time at the latest.
IMMOVABLES WORTH TRY 76.7M ON TENDER FROM GAZIANTEP METROPOLITAN MUNICIPALITY
Five immovables located on Aydinli, Umut and Taslica neighborhoods in the Sehithamil district of Gaziantep have been put on tender separately using the closed envelope method for an estimated price of TRY 76.7m. According to announcement of the Municipality, published in the Official Gazette, the estimated value of one immovable with a total area of 613,441 square meters has been determined as TRY 125 per square meter, while the estimated price of another immovable with a total area of 145,000 square meters has been determined as TRY 18.1m. A third with a total area of 209,143 square meters is estimated at TRY 26.1m. The estimated value of the fourth immovable, with an area of 214,298 square meters, has been determined as TRY 26.8m while the estimated price of the fifth immovable, with an area of 45,000, has been determined 5.6m. The tender will be held separately on January 27, 2021 at 3:00pm at the Municipal Council Meeting Hall by the Tender Committee.
OPERATION LICENSE FROM BBDK TO BIEN FACTORING
Turkey’s Banking Regulation and Supervision Agency (BDDK) has issued an operation license to Bien Factoring AS. According to the BDDK’s announcement, published in the Official Gazette, Bien Factoring has been approved to obtain license within the frame of relevant articles of the Law No. 6361 Financial Leasing, Factoring and Funding Companies Law.