Income Tax Exempted Severance Pay
According to the circular numbered 27998389-010-06-02-6235 released by the General Directorate of Budget and Fiscal Control on 03.07.2015 with the subject 'Financial and Social Rights', the coefficients used to calculate the wage of a civil servant have been revised effective 01.07.2015.
The following values have been calculated taking these coefficients into account, and shall be applied for the period between the dates of 01.07.2015-31.12.2015;
- Maximum severance pay to be exempted from income tax is 3.709,98.- TL,
To access the full circular in which these announcements were made, please click
Please also be advised that the contents of this circular is in Turkish languge.