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Here you can access most recent articles on legislative updates regarding Personal Data Protection Law, Social Security Law, Taxation Law, Occupational Health and Safety Law, Code of Obligations, Labor Law, Turkish Commercial Code, Law on Protection of the Value of Turkish Currency, Foreign Exchange Legislation, and Immigration Law in Türkiye.
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With the 2813 numbered Presidential Decree published on the Official Gazette No. 31202 on 31.07.2020; until 31.12.2020 withholding rates of rent payments of real estates, to be made in cash or to account, have been reduced from 20% to 10%, in accordance with the 94th article of Income Tax Law and 15th article of Corporate Tax Law.
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Category Taxation Law
With the Decision of the President No. 2812 published in the Official Gazette dated 31.07.2020 and numbered 31202, VAT rates were amended in some service sectors.
As per the Provisional Article 6 added to the Decision No. 2007/13033 with the Decision of the President No. 2812, until 31.12.2020;
According to the 27998389 - 010.06.02. 368870 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 a public officers have been revised effective 01.07.2020.
The following values have been calculated taking these coefficients into account and shall be applied for the period between the dates of 01.07.2020 – 31.12.2020 maximum severance pay to be exempted from income tax is determined as 7.117,17 TL.
The following values have been calculated taking these coefficients into account, and shall be applied for the period between the dates of 01.07.2020– 31.12.2020 monthly child support to be exempted from income tax is;
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.)
Category Taxation Law, Labor Law
In accordance with the letter of the Ministry of Treasury and Finance, General Directorate of Public Financial Management and Transformation dated 6/07/2020 and numbered 27998389-010.06.02-368870, the expense limits exempt from income tax for the period of 1 July 2020 - 31 December 2020 has been announced.