Within the scope of the Presidential Decree No. 8004 published in the Official Gazette No. 32413 dated December 28, 2023, the determined incentive rate application for technology employees has been extended until December 31, 2024.

The scope of incentives was briefly outlined in the previous regulation (before extension) as follows:

a. Minimum Wage

In the press release dated December 27, 2023, the Ministry of Labor, along with the Minimum Wage Determination Committee has announced the minimum wage to be effective for the year of 2024, as shown in the table below.

In the Official Gazette dated December 16, 2023, and numbered 32401, the Decision Annexed to the Presidential Decision dated December 15, 2023, and numbered 7953, was published, determining the amounts and rates specified in the fourteenth paragraph of Article 3 of Law No. 5746 on Support of Research and Development (R&D) and Design Activities and additional Article 3 of Law No. 4691 on Technology Development Zones, and the said decision shall be put into effect in accordance with the provisions of Law No. 5746 and Law No. 4691.

Property Tax

Property tax is a kind of tax that needs to be paid by owners of real estate such as land, estates, workplace, houses etc. For the properties owned by deed; The person, in whose name the deed has been issued, is the owner of the property and thus liable to pay for real estate tax.

This tax is paid as two equal installments each year. The first payment is made in March, April, or May and the second payment is within November.