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12August2015

Deduction of Social Security Support Contribution for Retired Company Shareholders

The shareholders of Limited Liability Companies are considered as insured under Bağkur under 4/B item of law number 5510. Following their retirement, they will be considered as insured in the extent of social security support contribution. With the omnibus bill number 6645, as of July an important change has put into effect.

An amendment has been made regarding the discount on the salaries of retired shareholders at a rate of 15%, in the scope of omnibuss bill number 6645. Before month of July, the deduction on the salaries of retired persons, who ran businesses or owned shares in companies, was 15%. With this omnibus bill, this rate has been reduced from 15% to 10%.

In accordance with this, the deduction for Social Security Support Contribution rate for retired business owners or company shareholders will be applied as 10% instead of 15%.

Written by Selma Kıy, Posted in Social Security Law and Legislation

About The Author

Selma Kıy

Certified Public Accountant - SMMM
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