According to the circular numbered 27998389-010-06-02-5278 released by the General Directorate of Budget and Fiscal Control on 04.07.2018 with the subject ‘Financial and Social Rights’, the coefficients used to calculate the wage of a civil servant have been revised effective 01.07.2018.

A new regulation has been implemented for the work permit applications that are conducted through the Ministry of Labor. This regulation is applied for both initial applications and the renewal applications of the currently issued valid work permits.

According to the circular numbered 27998389-010-06-02-138 released by the General Directorate of Budget and Fiscal Control on 04.01.2018 with the subject ‘Financial and Social Rights’, the coefficients used to calculate the wage of a civil servant have been revised effective 01.01.2018.

A) Income Tax Exempted Severance Pay

The following values have been calculated taking these coefficients into account, and shall be applied for the period between the dates of 01.08.2018 – 30.06.2018 maximum severance pay to be exempted from income tax is 5.001,76.- TL,

The Omnibus Bill numbered 7061 entitled “Law on Amending the Current Tax Laws, and Laws, and Decree Laws” has been published on the Official Gazette dated 05.12.2017. Below, we will review the Bill in terms of tax implementations, firstly in the form of headings and then in detail.

OMNIBUS BILL SCOPE AND CONTENT

1. Regulations Regarding the Corporate Tax Law
2. Regulations Regarding Income Tax Law
3. Regulations Regarding Value Added Tax (VAT) Law
4. Regulations Regarding Special Consumption Tax (ÖTV) Law
5. Regulations Regarding Tax Procedural Law
6. Regulations Regarding Expenditure Tax Law
7. Regulations Regarding Law on Inheritance and Succession Tax
8. Regulations Regarding Motor Vehicle Tax Law
9. Regulations Regarding Real Estate Tax Law