Important changes have been made in social security practices with the Law No. 7524 on Amendments to the Tax Laws, Some Laws, and Decree Law No. 375, published in the Official Gazette dated August 2, 2024.

What is Changing?

The per diem amounts exempt from income tax for the period from July 1, 2024, to December 31, 2024, have been calculated based on the per diem amounts listed in Schedule (H) of the Central Government Budget Law for 2024, published in the duplicate Official Gazette dated December 31, 2023, and numbered 32416, effective as of January 1, 2024, and the regulation of Article 24/2 of the Income Tax Law, and the civil servant salary coefficients for the period from July to December 2024.

As is known, Article 34 of Law No. 7499 on Amendments to the Code of Criminal Procedure and Certain Laws, published in the Official Gazette dated March 12, 2024 and numbered 32487, amended Article 9 titled "Transfer of Personal Data Abroad" of Law No. 6698 on the Protection of Personal Data. This amendment came into effect on June 1, 2024.

In the eleventh paragraph of the new version of Article 9 of Law No. 6698, it is stipulated that the procedures and principles for the implementation of this article will be regulated by a regulation. In this context, the "Regulation on the Procedures and Principles Regarding the Transfer of Personal Data Abroad" was published in the Official Gazette dated July 10, 2024 and numbered 32598, and it came into effect.

Following the local elections on March 31, 2024, the tightening policies in fiscal policy accelerated. The Omnibus Law Proposal includes new regulations concerning almost every sector.

• A "local minimum corporate tax application" is foreseen for resident companies in Türkiye.

Corporate Tax will not be less than the minimum tax calculated as 10% of the corporate income before deducting discounts and exemptions, or the higher of the minimum tax calculated as 10% by accepting 2% of the declared revenue as the tax base.