According to Corporate Tax Law, Is There an Exemption for the Income Received by the Sale of a Building Built on a Ground that has been held in a Company’s Active Account More Than 2 Years?

18.08.2017

ACCORDING TO CORPORATE TAX LAW, IS IT POSSIBLE TO TAKE ADVANTAGE OF THE SALES EXCEPTION IN THE EVENT OF THE SALE OF A (INCOMPLETE) BUILDING BUILT ON A GROUND THAT HAS BEEN HELD IN A COMPANY’S ACTIVE ACCOUNT MORE THAN TWO YEARS?
In case of the sale of building construction built on a ground, which has been held in a company’s active account more than 2 years, before having been completed;
1- 75% of the income gained by the sale of the ground will be subject to Corporate Tax Exemption,
2- The income gained by the sale of a building under construction will not be subject to exemption.

Source: Corporate Tax Law