09January2019

2019 1ST PERIOD - MAXIMUM SEVERANCE PAYMENT AMOUNT HAS BEEN DECLARED

2019 1ST PERIOD - MAXIMUM SEVERANCE PAYMENT AMOUNT HAS BEEN DECLARED

According to the 27998389 - 010.06.02.87 numbered Circular published by the Ministry of Treasury and Finance on 08.01.2019 with the subject ‘Financial and Social Rights’, the coefficients used to calculate the wage of a public officers have been revised effective 01.01.2019.

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 01.01.2019 – 30.06.2019 maximum severance pay to be exempted from income tax is determined as 6.017,60.- 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 01.01.2019– 30.06.2019 monthly child support to be exempted from income tax is;

  • For children 0-6 years of age – 65,30.- TL,
  • For others – 32,65.- 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.)

Written by Selma Kıy, Posted in Taxation Law, Labour Law

  • Notification !

    Contents provided on this article serve to informative purpose only. The article is confidential and property of CottGroup® and all of its affiliated legal entities. Quoting any of the contents of this notification without credit being given to the source is strictly prohibited. Regardless of having all the precautions and importance is put in the preparation of this article, CottGroup® and member companies cannot be held liable of the application or interpretation of the information provided. It is strictly advised to consult a professional for the application of the above-mentioned subject. Prior to taking any action in regards the above, please consult your client representative if you are a customer of CottGroup® or consult to a relevant party.

About the Author

Selma Kıy

CPA, Managing Partner
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