← All countries

Dutch tax on your assets in Turkey

Living in the Netherlands and still own property, savings or investments in Turkey? You have to declare them in Box 3. The Netherlands–Turkey tax treaty stops you paying twice on property, but savings and investments stay taxable here. Here's how it works, and a calculator to see what it means for you.

Property in Turkey

A house, flat or land in Turkey counts in your Box 3 wealth at its value on 1 January. Under the treaty Turkey may tax that property, and the Netherlands exempts the share of Box 3 tax that falls on it.

So you usually pay no Dutch tax on it, but you still have to declare it. It also counts when the tax-free allowance is spread over your assets, so your other wealth can be taxed slightly more.

Bank accounts and investments in Turkey

Savings, deposits, shares and funds in Turkey stay taxable in Dutch Box 3, just like assets here. The Netherlands is your country of residence and keeps the right to tax them.

If Turkey withheld tax on interest or dividends, it's credited against the Dutch tax on that slice, up to that Dutch tax and the rate the treaty allows.

Converting and declaring

Convert amounts to euros at the exchange rate on 1 January of the tax year. Keep a year-end statement from the bank or broker and a valuation of any property.

Many countries automatically share account information with the Belastingdienst. If you left foreign assets out in earlier years, correcting it voluntarily usually means a lower fine than if the Belastingdienst finds it first.

Money from family in Turkey

Gifts from parents or relatives living in Turkey are not subject to Dutch gift tax, unless the giver is a Dutch national who left the Netherlands less than 10 years ago. From the next 1 January the money does count in your Box 3.

What Turkey itself taxes

  • Emlak vergisi, the annual property tax, is paid to the municipality in Turkey. Rent from Turkish property is taxed in Turkey.
  • Selling Turkish property you have owned for more than five years is generally exempt from Turkish tax on the gain; within five years it can be taxable.

Your accounts and products in Turkey

  • Lira, euro and dollar deposits in Turkey count as savings in Box 3. Convert at the 1 January rate: a falling lira lowers the euro value you declare, it does not create a deductible loss.
  • Turkish withholding tax on deposit interest (stopaj) can be credited against the Dutch tax on those savings up to the treaty rate. Gold held at a Turkish bank counts as investments.

Common situations

  • Inheriting from parents who lived in Turkey: there is no Dutch inheritance tax when the person who died lived abroad (unless they were a Dutch national who left the Netherlands less than 10 years before). What you inherit counts in your Box 3 from the next 1 January.
  • A flat in Turkey bought for the family to use: declare it in Box 3 at its value on 1 January (relief applies), even if nobody pays rent.

Worked example (2026)

You live in the Netherlands, single, with € 20.000 in a Dutch savings account. In Turkey you own a home in İzmir worth € 95.000 and € 18.000 in a lira deposit, on which € 120 tax was withheld there.

Box 3 tax on everything€ 1.403
Treaty relief for the home− € 1.136
Credit for tax withheld− € 120
Box 3 tax you pay€ 146

The home still raises the tax a little: it counts when the tax-free allowance is spread over everything you own. The tax Turkey levies on the home itself comes on top. Sources: belastingdienst.nl, gib.gov.tr.

Keep calculating

General information based on Dutch treaty practice for Box 3. Your own situation may differ; have foreign assets checked by an adviser if in doubt.