06July2023

The Exemptions of the Electricity, Natural Gas and Heating Allowance Have Expired as of 30th June 2023

The social security premium and income tax exemptions applied to electricity, natural gas, and similar heating allowances, as announced in the Circular No. 2022/26 issued by the Social Security Institution and the Income Tax General Communiqué No. 322 published by the Revenue Administration, have expired as of June 30, 2023.

As of July 1, 2023, payments made to employees for all kinds of electricity, natural gas and similar heating expenses will be subject to income tax and social security premium deductions.

You can access further information on the subject through our articles published on our website via these links.

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

Written by İrem Güner, Posted in Social Security Law and Legislation, Taxation Law

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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

İrem Güner

Senior Client Relations Specialist

https://www.cottgroup.com

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