Tax Advisory for Individuals

Taxation of Individuals and Tax Planning

Taxes play a crucial role in financial planning, directly impacting your wealth, investments and long-term financial security. Tax advisory services help you determine your obligations correctly, use statutory tax benefits and avoid tax risks.

Whether you are an employee, self-employed professional, investor, property owner or expatriate, your situation is assessed by GEMS Serbest Muhasebeci Mali Müşavirlik A.Ş. We analyse your specific circumstances and develop a long-term tax strategy aligned with your financial goals.

Our Tax Advisory Services for Individuals

1. Income Tax (Tax Returns and Tax Planning)

Income tax (Personal Income Tax – PIT) is one of the most significant taxes for individuals, covering various types of earnings, including:

  • Wages and salaries (payroll tax withholding)
  • Self-employment and business income
  • Investment income (dividends, stock profits, interest, cryptocurrencies)
  • Rental income from real estate (property taxation)
  • Other income sources, such as pensions and additional earnings

Our Services:
- Preparation of income tax returns
- Utilization of tax deductions, allowances and credits
- Advice on tax-deductible expenses and special allowances
- Assistance with tax refunds and overpayment claims

2. Income from Capital Investments and Capital Gains

In Turkey, income from capital investments is not subject to a separate tax but to income tax as investment income or capital gains; a large part is collected by way of withholding tax. This includes:

  • Dividends and interest income
  • Profits from stocks, funds, ETFs and bonds
  • Cryptocurrency and digital assets
  • Gains from selling securities or shareholdings

Our Services:
- Tax assessment of capital investments
- Use of allowances and avoidance of unnecessary tax liabilities
- Advisory on cryptocurrency taxation
- Tax-efficient investment strategies for long-term wealth creation

3. Real Estate Taxation & Rental Income

Selling or renting real estate involves various taxes:

  • Income tax on rental earnings
  • Income tax on capital gains from real estate sales
  • Annual property tax on real estate ownership

Our Services:
- Tax advisory for real estate transactions
- Determination of tax liabilities for landlords and real estate investors
- Calculation of capital gains and tax assessment of property sales
- Assistance with annual property tax returns

4. Inheritance Tax & Gift Tax

The transfer of wealth to the next generation is subject to inheritance tax and gift tax, applicable in cases such as:

  • Inheritance of cash, real estate, shares in companies or other movable assets and rights
  • Gifts to family members or third parties during one’s lifetime

Our Services:
- Tax planning for wealth transfers
- Use of tax allowances and exemptions
- Advice on the tax consequences of gifts
- Filing and calculation of inheritance and gift tax

5. Tax Advisory for Expats & International Taxation

Individuals working, investing, or relocating abroad may face complex international tax obligations. Double Taxation Agreements (DTAs) determine which country has the right to tax specific types of income.

  • Determining tax residency in cases of relocation or dual residency
  • Taxation of foreign-sourced income
  • Reclaiming withholding taxes on foreign income

Our Services:
- Tax advisory for expatriates
- Advisory on avoiding double taxation
- Assistance with international tax filing and compliance

6. Tax Planning for Self-Employed Professionals & Freelancers

Self-employed individuals and freelancers have unique tax obligations, including:

  • Income tax on business profits
  • Value-added tax (VAT) on services and products

Our Services:
- Tax structuring for self-employed professionals and small businesses
- Advice on deductible business expenses
- Advisory on VAT compliance and invoicing
- Support with tax audits and compliance matters

7. Tax Audits

Support during a tax audit is important.

Our Services:
- Support during tax audits
- Settlement procedures with tax offices

Focus Areas – Our Tax Expertise for Individuals

  • Income tax planning & tax return preparation
  • Investment income, capital gains, real estate taxation & cryptocurrency taxation
  • International tax advisory for expats & cross-border taxation
  • Inheritance & gift tax planning
  • Tax planning for self-employed professionals & freelancers
  • Tax advice for shareholdings and company sales
  • Retirement & pension tax planning
  • Support in tax audits
Team
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