What is the tax when renting out property?

If you are leasing your property in North Cyprus, you are obligated to pay taxes.

• Extended-term lease
• Short-term lease
• Registration of contract
• Documentation
• Frequently Asked Questions

Extended-term lease

For extended-term leases of your property, the tax amounts to 10% to 13% of the rental price stipulated in the contract. The contract must be duly registered with the tax office.

Short-term lease

The tax rate for short-term leases remains the same, ranging from 10% to 13%. When making payment at the tax office, you will also be required to complete the V.D.91 form, which will be provided on-site. Alternatively, you may download it from the link provided below.

Registration of contract

An extended-term lease contract must be registered with the tax office. Registration incurs a fee of 350 Lira and is conducted directly at the tax office of your respective district.

Documentation

• Declaration of rental income
• Form V.D.91

Frequently Asked Questions Regarding Rental Taxes

When must I remit the rental tax?

According to the tax office's website, the tax must be paid by the 15th of the subsequent month after the contract is signed. Alternatively, for the entire rental period, payment can be made immediately upon contract registration.

What happens if the contract is terminated prematurely?

It is essential to notify the tax office; otherwise, the tax will continue to accrue. Moreover, penalties will be imposed for non-payment.

If you are seeking tenants, you can advertise on the Telegram forum for property rental. Additionally, you may find the question-and-answer chat regarding the North Cyprus property useful.