According to the Circular dated July 3, 2026 and numbered 27998389-010.06.02-4870801 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 July 1, 2026.

Income Tax Exempted Severance Pay

Law No. 7587 on Amendments to Certain Laws, enacted on June 24, 2026, introduced significant amendments directly affecting Turkish tax legislation, including the Income Tax Law, the Tax Procedure Law, the Value Added Tax (VAT) Law, and certain other special laws.

Under Law No. 5604 on the Establishment of the Fiscal Holiday, the 2026 fiscal holiday will commence on July 1, 2026 and end on July 20, 2026 (inclusive).

For the 2026 fiscal holiday period:

• The filing deadline for tax returns originally due between July 1 and July 20, 2026 has been extended to Monday, July 27, 2026.
• Taxes accrued based on these returns must be paid by Tuesday, July 28, 2026.
• The same extension also applies to tax returns whose original filing deadline falls within the five-day period immediately following the end of the fiscal holiday.

The Turkish Revenue Administration has extended the filing and payment deadlines for the 2024 Global Minimum Top-up Tax Return through a Circular issued under the Tax Procedure Law.

Under the Circular: