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Each year, the rental income earned by real persons are declared to the respective tax office with the Annual Income Declaration until the end of March (for 2022 income, 31st of March, 2023). The types of income that are within the scope of moveable assets except the rental income, are stated in the Income Tax Law Number 70. In order to declare the rent income, the lump sum expense method and actual expense method are implemented. As of 2022 tax year, for the rental income, the ratio of 15% would be used for lump sum expense calculations. In the below table, the related details are provided for rental income from residential and commercial places. For further detailed information please contact your customer representative or an expert.
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Author Selma Kıy, Category Taxation Law
The Law No: 7440 published on the Official Gazette dated March 13, 2023 and numbered 32130.
With that Law, the additional payments / allowances up to a limit amount of TRY 50,000, made to the earthquake victim employees (whose spouse, child or mother and father were affected), between the period February 6, 2023 – July 31, 2023, will be exempt from income tax (In Turkish), social security premium and stamp tax. (In Turkish)
Author Erdoğdu Onur Erol, Category Social Security Law and Legislation, Taxation Law
The 2023 minimum wage support has come into force with the Law No: 7431 (In Turkish) published on the Official Gazette dated January 13, 2023 and numbered 32072.
With the Communique dated March 7, 2023 and numbered 2023/12, the procedures regarding the minimum wage support have been published by the Social Security Institution (In Turkish).
As a summary, in case that all conditions are met, the minimum wage support will be automatically deducted from the social security premium payments on the upcoming periods by the Social Security Institution without any application.
Author Erdoğdu Onur Erol, Category Social Security Law and Legislation
"The Communiqué on Amending the Corporate Tax General Communiqué Serial No. 21" was published in the Official Gazette No. 32119 on March 1, 2023.
Following changes were made in the relevant communiqué.
Application of discounts on the earnings of institutions operating in the Istanbul Financial Center Region;