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Taxation Law

 
07Temmuz2023

2023 II. Period - Severance Ceiling Amount Amended

According to the Circular dated July 7, 2023 and numbered 27998389-010.06.02-2298391 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, 2023.

Income Tax Exempted Severance Pay

Yazar CottGroup Hukuk ve Mevzuat Ekibi, Kategori Taxation Law, Labor Law

07Temmuz2023

VAT Rates Have Been Increased on All Deliveries of Goods and Services as of 10.07.2023

VAT rates have been amended with the Presential Decree Numbered 7346 published in the Official Gazette dated July 7, 2023 and numbered 32241. With the new regulation, the VAT rates applicable to All Goods and Services have been changed.

  • The VAT rate which was 18% has been icreased to 20%,
  • The VAT rate which was 8% has been increased to 10%.

Yazar Selma Kıy, Kategori Taxation Law

07Temmuz2023

2023 Amount of Fixed Fees Have Been Increased by 50%

With the Presidential Decree Numbered 7344 published in the Official Gazette dated July 7, 2023 and numbered 32241, changes have been made in the tariffs related to the Law on Fees Numbered 492.

In this regard,

Yazar Selma Kıy, Kategori Taxation Law

07Temmuz2023

2023 II. Period Statutory Deductions on Payroll

The statutory deductions applicable in a standard Turkish payroll are social security premium, income tax, and stamp tax. Also, the salaries generated from liaison offices in Türkiye are exempt from income tax per Article 34/14 of Income Tax Law, and these are only subject to social security.

Also, the income tax exemption as much as the income tax deduction amount calculated over the minimum wage for all wages introduced in 2022 will continue in 2023 as well.

Social Security Premium

Social Security Premium is calculated over wages monthly and paid jointly by the employee and the employer. The contribution rates are as follows:

Yazar CottGroup Hukuk ve Mevzuat Ekibi, Kategori Social Security Law and Legislation, Taxation Law

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