• With the Presidential Decree No. 3343, deadline for debt restructuring applications and for payment of first installments is 01.02.2021, within the scope of the Law No. 7256.
• With the Presidential Decree No. 3343, for the taxpayers, who applied for debt restructuring within the scope of the Law No. 7256, deadline for the first installment of tax payments is 01.03.2021, and for the first installment of SSI payments is 31.03.2021.
• With the Presidential Decree No. 2812, changes in VAT rates applied for certain goods and services are extended until 31.05.2021.

According to the 27998389 - 010.06.02.11638 numbered Circular published by the Ministry of Treasury and Finance with the subject 'Financial and Social Rights', the coefficients used to calculate the wage of public officers have been revised to be effective as of 01.01.2021.

Income Tax Exempted Severance Pay

The following value has been calculated taking these coefficients into account and shall be applied for the period between 01.01.2021 – 30.06.2021 maximum severance pay to be exempted from income tax is determined as TRY 7.638.96.

To access the full circular in which these announcements were made, please click here. (Please also be advised that the contents of this circular are in Turkish language.)

• Income Tax Exempted Food Allowance
• Income Tax Exempted Commuting Allowance
• Disability Degree Discount
• Income Tax Brackets of 2021
• Stamp Tax Rate

a. Minimum Wage

In The press release dated December 28, 2020 the Ministry of Labor along with the Minimum Wage Determination Committee have announced the minimum wage to be effective for the year of 2021 as shown in the table below.