Turkey:
2023 II. Period - Severance Ceiling Amount Amended
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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
The following value has been calculated taking these
coefficients into account and shall be applied for the period
between the dates of July 1, 2023 and December 31, 2023, maximum
severance pay to be exempted from income tax is determined as
23,489.83 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.
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