If you own a Turkish holiday home but only use it for a few weeks a year it makes financial sense to rent it out for the other weeks during the holiday season. Many developers have often sold holiday property as investments on the basis of the rental generation potential.

But, have you thought about the tax implications? Maybe you have but then thought that’s too complicated, or maybe you just don’t know.

Well ignorance isn’t bliss and leaving this important issue until it’s too late could also be costly. Not only do you risk being fined by the Turkish tax authorities, but also UK Taxman.

Well we at Fethiye Times can’t advise you on tax matters but we can suggest somewhere in Turkey where you can find help.

The Turkish tax authority issued a booklet in English last year that details the tax liabilities for foreigners (or 'aliens' in tax talk) who own and/or rent out property in Turkey. The booklet is available here and is essential reading.

Although we said we can’t give you tax advice we do advise that you to read this booklet and take action as soon as possible if you think it will apply to you.

If you don’t feel confident dealing with it yourself employ someone who can.

Last year the Turkish tax authorities launched a highly researched and executed investigation into the holiday rentals market of foreigners owning property in Turkey. They carried out mock surveys at the major airports to find out where people stayed, scoured the internet and rental magazines as well as reviewing the growing file of complaints received from local businesses who believe that such rentals are taking business away from them. They then compared the information to their tax records and carried out door to door enquiries during the 2007 season.

We don’t know the outcome of these investigations as people generally don’t talk about tax fines or court cases, but we do expect the investigations to start again this year.