2017 Tax Parameters

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2017 tax parameters have been announced very recently. Here are the new numbers;

Taxable Gross Income Brackets and the Tax Rates In 2017

One of the most important parameter in the calculation of wages is the income brackets and the tax rates applied to them. Withholding tax amount on the wages is calculated by taking into consideration the cumulative income tax base and the below rates which is determined each year.

      Income /TRY               Tax Rate

0           –    13.000,00          15%
13.000   –    30.000,00          20%
30.000   –    110.000,00        27%
110.000 +                            35%

Meal Allowance

Instead of providing meal allowance in cash or supplying foodstuff, employer may choose to provide employees with meal vouchers or tickets enabling them have their lunch outside of workplace. These vouchers or tickets up to 14.00 TRY daily (for 2017) will be exempted from income tax.

It should be bear in mind that his exemption is applicable only for the meal vouchers/tickets used on meals and belonged to virtually worked days. Where they are spend on products other than meals and foods, the amounts paid for them must be considered as part of the wage and must be subject to income tax.

Tax Deductions for Disabled Workers

Disability tax allowance amounts determined depending on degree of disability by government every year in accordance with Article 31 of Income Tax Law No. 193.

Monthly amounts to be deducted from taxable income base in 2017 are as follows:

1st Degree Disabled Employee, who lost at least 80% of the working capacity will be benefiting from tax allowance of 900,00 TL monthly,

2nd Degree Disabled Employee, who lost at least 60% of the working capacity will be benefiting from tax allowance of 470,00 TL monthly,

3rd Degree Disabled Employee, who lost at least 40% of the working capacity will be benefiting from tax allowance of 210,00 TL monthly.

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