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.

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 01.07.2020– 31.12.2020 monthly child support to be exempted from income tax is;

• For children 0-6 years of age – 77,23.- TL,
• For others – 38,62.- 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.)

In accordance with the letter of the Ministry of Treasury and Finance, General Directorate of Public Financial Management and Transformation dated 6/07/2020 and numbered 27998389-010.06.02-368870, the expense limits exempt from income tax for the period of 1 July 2020 - 31 December 2020 has been announced.

The income generated from renting commodity and rights, which are indicated in the 70th Article of the Income Tax Law, is defined as "estate capital revenue" and these revenues are subject to income tax under certain circumstances.

The income tax calculated over the income tax declarations regarding the rent revenues in 2019 are paid in two equal installments in March and July of 2020.

The second installment shall be paid until 31 July 2020.

Second installment of 2020 Motor Vehicles Tax shall be paid between 01.07.2020-31.07.2020.

Second installment of 2020 Motor Vehicles Tax shall be paid for the vehicles registered to your name or company. Taxpayers are able to view and pay their taxes without logging into Interactive Tax Office, by submitting only the license plate and Turkish ID number.

Payments can be deposited from postal offices, tax offices and the banks which have an agreement with the authorities.

For detailed information, please contact your customer representative.