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2021 1st Period - Maximum Severance Payment Amount

2021 1st Period - Maximum Severance Payment Amount

According to the 27998389 - 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 public officers have been revised to be effective as of 01.01.2021.

Income Tax Exempted Severance Pay

The following value has been calculated taking these coefficients into account and shall be applied for the period between 01.01.2021 – 30.06.2021 maximum severance pay to be exempted from income tax is determined as TRY 7.638.96.

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 Erdoğdu Onur Erol, Posted in Taxation Law, Labor Law

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