05July2022

2022 2nd Period - Severance Ceiling Amount

According to the 27998389-010.06.02-1342135 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 01.07.2022.

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 01.07.2022 - 31.12.2022 maximum severance pay to be exempted from income tax is determined as 15,371.40 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.)

Should you have any queries or need further details, please contact your customer representative.

Written by Erdoğdu Onur Erol, Posted in Taxation Law, Labor Law

Maximum Severance Payment Amount - Archive
Notification!

Contents provided in 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 without credit being given to the source is strictly prohibited. Regardless of having all the precautions and importance put in the preparation of this article, CottGroup^® and its 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.

Please consult your client representative if you are a customer of CottGroup^® or consult a relevant party or an expert prior to taking any action in regards to the above content.

About The Author

Erdoğdu Onur Erol

HR Compliance Manager

https://www.cottgroup.com

2022 2nd Period - Severance Ceiling Amount

Income Tax Exempted Severance Pay

Maximum Severance Payment Amount - Archive