Art. 30 Tax Law (TL)

**1 The expenses required for the administration of movable assets, as well as foreign withholding taxes that cannot be refunded or credited, are deductible.**

**2 Expenses for maintenance, insurance premiums, real estate taxes, and costs required for the administration of private properties by third parties can also be deducted. Investment expenses aimed at saving energy and protecting the environment are deductible within the limits set by the Department of Finance. Demolition costs for the purpose of replacement construction are treated as deductible energy-saving expenses.**

**2bis Additionally, expenses incurred from restoration works on historical monuments, which the taxpayer undertakes pursuant to legal provisions, in agreement with the authorities or upon their order, are deductible for the portion that exceeds the subsidies received.**

**2ter The investment expenses mentioned in paragraph 2, second sentence, and the demolition costs for replacement construction, are deductible during the two following fiscal periods if they cannot be fully considered during the current fiscal period in which the expenses were incurred.**

**3 Instead of the actual amount of maintenance and administration expenses, as well as insurance premiums related to private properties, the taxpayer may claim a standard deduction.**

**4 The Government enacts the necessary implementing provisions. It particularly sets the rate for the standard deduction and may prescribe that transitioning from the deduction of actual expenses to a lump sum for the same taxpayer is not allowed.**

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