"Foreign tax evaders nothing next to Turks Wednesday, August 29, 2007
SEVİN TURAN
ISTANBUL - Turkish Daily News
When in Rome do as the Romans do, so the saying goes. Foreign residents in Turkey have chosen to adapt this old adage to their real estate purchases. Turkey's Ministry of Finance has uncovered serious tax evasion infractions involving real estate purchases in several of Turkey's prominent vacation regions. These violations, typically in the form of property undervaluing, totaled nearly 60 percent of all real estate transactions, and approximately YTL 52.1 million in tax revenues were lost as a result, according to a piece published by the Anatolia News Agency. "
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