2023 1st Period - Severance Ceiling Amount Amended
According to the Circular dated January 13, 2023 and numbered 27998389-010.06.02-1843378 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 January 1, 2023.
The previous Circular published on January 5, 2023 has been abolished.
Income Tax Exempted Severance Pay
The following value has been calculated taking these coefficients into account and shall be applied for the period between the dates of January 1, 2023 and June 30, 2023, maximum severance pay to be exempted from income tax is determined as 19,982.83 TRY.
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.)
Should you have any queries or need further details, please contact your customer representative.