According to the 27998389 - 010.06.02. 368870 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 01.07.2020.

Income Tax Exempted Severance Pay

The following values have been calculated taking these coefficients into account and shall be applied for the period between the dates of 01.07.2020 – 31.12.2020 maximum severance pay to be exempted from income tax is determined as 7.117,17 TL.

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.)

Law on the Amendment of Some Laws with the Law on Reducing the Effects of New Coronavirus (Covid-19) Epidemic on Economic and Social Life, which includes articles on reducing the effects of Covid-19 epidemic to economic and social life and amendments to be made in some laws have entered into force, having been published in the Official Gazette dated 17.04.2020 and numbered 31102.

Law No. 7244 includes postponing, not taking or restructuring receivables, extending certain periods regulated by law, innovations brought to business life by the Labour Law and other related regulations and many more.

You can find the regulations in the law below:

ARTICLE 1 - Postponement, not taking or restructuring of some receivables

Due to force major caused by the Covid-19 outbreak, it has been ensured that;

The Law on the Amendment of Some Laws No. 7226, which contains amendments in many laws, including articles on the struggle with Covid-19 outbreak, has entered into force by being published in the Official Gazette dated 26.03.2020 and with repeated number 31080.

Law No. 7226 includes accelerating access to individuals in disasters and emergencies, meeting energy expenditures from the budget, postponing financial liabilities and declarations, compensatory work to be done by the employer, short employment, bounced cheque, unprotested bill, those with loan depts or credit card depts and many more regulations.

You can Find the Regulations in the Law Below

According to the 27998389 - 010.06.02-13659 numbered Circular published by the Ministry of Treasury and Finance on 06.01.2020 with the subject ‘Financial and Social Rights’, the coefficients used to calculate the wage of a public officers have been revised effective 01.01.2020.

Details on the above-mentioned subject are outlined below.

A) Income Tax Exempted Severance Pay

The following values have been calculated taking these coefficients into account and shall be applied for the period between the dates of 01.01.2020 – 30.06.2020 maximum severance pay to be exempted from income tax is determined as 6.730,15.- TL.

B) Income Tax Exempted Child Support

The following values have been calculated taking these coefficients into account, and shall be applied for the period between the dates of 01.01.2020– 30.06.2020 monthly child support to be exempted from income tax is;