08Ocak2024

2024 I. Period - Severance Ceiling Amount Amended

According to the Circular dated January 5, 2024 and numbered 27998389 - 010.06.02 - 2774790 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 January 1, 2024.

Income Tax Exempted Severance Pay

The following value has been calculated taking these coefficients into account and shall be applied for the period between the dates of January 1, 2024 and June 30, 2024, maximum severance pay to be exempted from income tax is determined as 35,058.58 TRY.

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.)

Should you have any queries or need further details, please contact your customer representative.

Yazar Erdoğdu Onur Erol, Kategori Taxation Law, Labor Law

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