Turkey:
2022 1st Period - Severance Ceiling Amount
10 January 2022
CottGroup
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According to the 27998389 - 010.06.02-854887 numbered Circular
published by the Ministry of Treasury and Finance with the subject
'Financial and Social Rights', the coefficients used to
calculate the wage of public officers have been revised effective
01.01.2022.
Income Tax Exempted Severance Payment
The following value has been calculated taking these
coefficients into account and shall be applied for the period
between the dates of 01.01.2022 – 30.06.2022 maximum
severance payment to be exempted from income tax is determined
as?10,596.74 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.)
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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