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16December2021

2022 Minimum Wage and Legal Parameter Updates

2022 Minimum Wage and Legal Parameter Updates

a. Minimum Wage

In the press release dated December 16, 2021, the Ministry of Labor, along with the Minimum Wage Determination Committee has announced the minimum wage to be effective for the year of 2022, as shown in the table below.

TERM

GROSS

NET

2022 Year

5,004.00-TRY

4,253.40-TRY

In addition, there will be some changes on income and stamp tax implications as of 01.01.2022.

b. Monthly SSI Base and Ceiling Parameters

As per Article 82 of the 5510 numbered SSI Law, the SSI base and the SSI ceiling are determined by taking the minimum wage into account. The SSI ceiling is calculated as 7,5 times the minimum wage. The below table shows the legal parameters in regards to 2022.

SSI

Monthly SSI Base

Monthly SSI Ceiling

2022

5,004.00-TRY

37,530.00-TRY

Minimum Subsistence Allowance is abolished as of Jan, 2022.

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

Written by Erdoğdu Onur Erol, Posted in Social Security Law and Legislation, Taxation Law

About The Author

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