Turkey:
2022 1st Period - Severance Ceiling Amount Is Amended
25 January 2022
CottGroup
To print this article, all you need is to be registered or login on Mondaq.com.
According to 27998389 - 010.06.02-903791 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 a public officers have been revised
effective 01.01.2022.
The previous Circular published on 06.01.2022 has been
abolished.
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 01.01.2022 - 30.06.2022 maximum severance pay
to be exempted from income tax is determined ?10,848.59 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.)
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.
POPULAR ARTICLES ON: Tax from Turkey
Tax – A Shake-Up Looms
Herbert Smith Freehills
Few developments in the tax world have an impact on a truly global scale, but the so-called 'Pillar Two' rules – essentially a global minimum corporate tax – is one of them.
Tax Saving Tips For Your Cyprus Company
McMillan Woods
Cyprus has an extensive network of double tax treaties with various countries, which can help in reducing or eliminating double taxation. Take advantage of these treaties to minimize your tax liabilities.
Tax Facts 2024
Highworth
Highworth (Cyprus) Ltd, a trusted leader in financial services, proudly presents the Tax Facts of 2024.
Tax Relief On Debt For Companies
Lubbock Fine
When financing your business operations through borrowing, one of the main considerations will be whether the interest cost is deductible, and to what extent if it is. In the UK...