Attention landlords! What is the penalty for not filing a rental income tax return?

Minister of Treasury and Finance Mehmet Şimşek stated that they are working to prevent rental income from going untaxed, saying, "In March of this year, the rental incomes of real estate owners were placed under scrutiny to ensure that rental income is declared correctly."

So, what kind of penalty awaits those who do not file a rental income tax return? Here are the details..

Those who do not file a rental income tax return are subject to a penalty of 5 percent of the rental income. In addition, a monthly legal interest rate of 1.40 percent is applied. Furthermore, those who fail to file a return may be subject to a double 1st-degree procedural irregularity penalty. 

The 1st-degree procedural irregularity penalty for 2024 is 150 TL; if a double penalty is applied, this figure reaches 300 TL.

Using an example calculation; a landlord with a monthly rental income of 15,000 TL will face a penalty of 1050 TL, including the 5 percent penalty and the procedural irregularity penalty.