According to the Turkish law if a legal entity takes over a business with its assets and liabilities, then it is liable for the debts and credits of the same company.
In some cases where the purchaser may not want to be liable for the debts and legal liabilities of the acquired company during the asset transfer, the legal documentation may vary depending on the nature of the asset.
The asset transfer is generally subject to VAT based on the sale value of the asset. The VAT rate most of the times is 18% but different rates may apply depending on the nature of the asset.
