With the publication dated December 30, 2023 and numbered 32415 in the Official Gazette, the following exceptions have been updated.

• Income Tax Exempted Meal Allowance
• Income Tax Exempted Commuter Allowance
• Disability Degree Discounts

The Official Gazette of Turkey published the General Communiqué on the Tax Procedure Law (Serial No: 555) on December 30, 2023, under issue number 32415 (2nd Extraordinary). This communiqué details the procedures and principles for adjusting financial statements for inflation for the fiscal year 2023 and subsequent periods.

The General Communiqué on Inflation Adjustment was issued with the aim of eliminating the effects of ongoing high inflation on financial statements and mitigating the adverse effects of inflation on taxation.

The statutory deductions applicable in a standard Turkish payroll are social security premium, income tax, and stamp tax. Also, the salaries generated from liaison offices in Türkiye are exempt from income tax per Article 34/14 of Income Tax Law, and these are only subject to social security.

Also, the income tax exemption as much as the income tax deduction amount calculated over the minimum wage for all wages introduced in 2023 will continue in 2024 as well.

Social Security Premium

Social Security Premium is calculated over wages monthly and paid jointly by the employee and the employer. The contribution rates are as follows:

The Law No. 7491 titled "Law on Amendments to Certain Laws and Decree Laws" was published in the Official Gazette No. 32413 dated December 28, 2023.

Under the scope of Law No. 7491, the following adjustments have been made in tax implementations: