Legislation

COTTGROUP

08January2018

LAST DAY TO PAY THE ANNOUNCEMENT AND ADVERTISEMENT TAX DECLARATION IS 31.1.2018

All kinds of announcements and advertisements made within the boundaries of municipalities and their adjacent areas are subject to the “Announcement and Advertisement Tax”. The responsible party of this relevant tax is the real or the legal person who makes the advertisement on behalf of themselves. The third parties who process the advertisements on behalf of the actual party, are responsible to make the tax payments to the relevant Municipalities on behalf of the actual party.

Written by Selma Kıy, Posted in Taxation Law

05January2018

MOTOR VEHICLE TAX PAYMENT FOR 2018 1st PERIOD

Vehicle owners are obliged to pay the Motor Vehicle Tax (MTV) each year. The tax can be paid in two installments yearly upon request. In additional to the land vehicles, airplanes, helicopters, choppers and motor vessels are liable to the MTV tax.

Written by Selma Kıy, Posted in Taxation Law

04January2018

INCOME TAX EXEMPTED SEVERANCE PAY FOR 2018 1st PERIOD

According to the circular numbered 27998389-010-06-02-138 released by the General Directorate of Budget and Fiscal Control on 04.01.2018 with the subject ‘Financial and Social Rights’, the coefficients used to calculate the wage of a civil servant have been revised effective 01.01.2018.

A) Income Tax Exempted Severance Pay

The following values have been calculated taking these coefficients into account, and shall be applied for the period between the dates of 01.08.2018 – 30.06.2018 maximum severance pay to be exempted from income tax is 5.001,76.- TL,

Written by Selma Kıy, Posted in Taxation Law, Labour Law

02January2018

2018 MINIMUM WAGE & RELATED LEGAL PARAMETER CHANGES

a. Minimum wage

In a press release dated December 29, 2017 the Ministry of Labor along with the Minimum Wage Determination Committee have announced the minimum wage to be effective for the year of 2018 as shown in the table below. The Official Gazette related to this change has yet to be released.

Written by Burcu Özel, Posted in Social Security Law and Regulations

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