Business in Turkey

Changes in Paid Annual Leave Regulation

yillikizindedegisiklik

According to the amendments on Paid Annual Leave Regulation issued in Official Journal No.30158, dated 18 August 2017; Annual vacation periods may be used in segments by mutual consent, provided that one of the segments cannot be less than 10 days.  For employees of subcontractor; in case the employee continues …

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Tax Reduction for Compliant Taxpayers Starts in 2018

vergiindirimi

We have already informed you that the taxpayers who pay their personal income and/or corporate taxes regularly on time will be benefiting from 5% tax discount not exceeding one million TRY in any case. According to the news we received, Ministry of Finance, Revenue Administration prepared an Income Tax General …

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Withdrawal from Private Pension may be Made Difficult

bes zorunlulugu

The main target of the Private Pension System is to improve the welfare level of employees by providing a supplementary income during retirement and also to increase the domestic savings which is crucial for Turkey’s economic growth. However, according to official statistics about 57% of the participants used their right …

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What is Union Compensation?

sendikaltazminat

Union compensation is a compensation paid to an employee whose employment contract is terminated due to union membership or participation in union activities. The amount of such payment must be determined by labor court, and cannot be less than the employee’s annual wage. Union compensation is arranged in article 25 …

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Calculation of Gross Wage in Severance Payment

kidemtazminatigiydirilmis

As is known qualified employees are paid a severance pay equal to last 30 days’ gross wage for each full year of employment. An employee receives various types of payments and in kind benefits in addition to his base salary, so the term “gross wage” can be interpreted differently. When …

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Obligation of Employing Victims on the Way

magduriyet

In Turkey private sector establishments employing fifty or more employees are required to employ disabled persons not less than 3 % of their number of personnel. For employers who have more than one establishment within the boundaries of a province, the number that the employer must employ shall be computed …

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