2018 Taxable Income Brackets and the Tax Rates

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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 for every year.

The new taxable income brackets and the tax rates to be applied in 2018 issued in Official Gazette duplicate number 30285, dated 29 December 2017 are shown below:

TAX RATE
TAXABLE INCOME BRACKETS
Up to 14.800 TRY 15%
For the 14.800 TRY of 34.000 TRY the tax is 2.220 TRY, in excess 20%
For the 34.000 TRY of 120.000 TRY the tax is 6.060 TRY, in excess 27%
For the 120.000 TRY of income over 120.000 TRY the tax is 29.280 TL, in excess 35%

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