295 TAX LAW Conclusion The VHT that was added to the Real Estate Tax Law through Law No. 7194, and which has been the subject of many discussions since the day it was regulated, has been implemented as of 2021. The first declaration for the VHT must be submitted by 20 February 2021. However, since the VHT is considered to be contrary to many constitutional principles, taxpayers should evaluate whether or not to submit their declaration with reservation, and initiate a tax litigation procedure, subsequently. In this context, it is expected that the VHT will occupy the agenda in the future.
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