Business in Turkey

Insurance Premium Deferral in Fire Zones

Insurance Premium Deferral in Fire Zones

After the fire disaster, it was announced through the media that an arrangement would be made to postpone the insurance premium payments of the workplaces in the region. The expected regulation was made with the General Letter published by SGK on August 9th, 2021. The wildfires started simultaneously in many …

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2021 Minimum Wage Support

2021 Minimum Wage Support

Introduced back in 2016 due to the increase in minimum wage, Minimum Wage Support aims to reduce the labor costs of employers and increase employment. Minimum Wage Support is here to stay for the rest of the year. The temporary 85th article was added to Law No. 5510 regarding minimum …

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VAT Discount Period on Meals Has Been Extended

VAT Discount Period on Meals Has Been Extended

The VAT rate was reduced from 8% to 1% with the discount introduced last summer. This discount will continue to apply. The reduced VAT application in food expenditures, which is expected to end on July 31, was extended again with the Presidential Decision No. 4312 published in the Official Gazette …

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New Arrangement in 5-Point Treasury Discount

New Arrangement in 5-Point Treasury Discount

The criteria for the 5-point treasury discount have been changed. This discount from which most employers have benefited is a 5% discount on the insurance premiums that the employer is obliged to pay for each insured employee as long as the employer reported and paid the premiums on a regular …

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Severance Pay Ceiling for 2021 2nd Term Announced

Severance Pay Ceiling for 2021 2nd Term Announced

The Seniority Based Salary Ceiling valid between 01.07.2021 and 31.12.2021 has been determined as 8,284.51 TRY. As of July 1, the severance pay to be calculated for the employees who have been terminated and deserved severance pay should be calculated considering the seniority ceiling determined as 8,284.51 TRY. Despite being …

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When will the Covid-19 supports end?

When will the Covid-19 supports end?

Short-term work allowance, cash wage support, unpaid leave and  termination ban are among the measures that were introduced by the Turkish government to fight against the socio-economic impacts of the pandemic. With the acceleration of the vaccination process and the decline in hospitalized cases, pandemic support is ending one by …

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2021 Fiscal Holiday Begins

2021 Fiscal Holiday Begins

The fiscal holiday is of importance for professionals in the field of accounting and payroll, as the government agencies’ notification deadlines change. The Fiscal Holiday in 2021 will start on July 1 and end on July 20 (the day included). As the last day, if the legal and administrative obligations …

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