Taxable Gross Income Brackets and the Tax Rates in 2016

taxable-gross-income-brackets-and-the-tax-rates-in-2016

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 above rates which is determined for every year.

The new taxable income brackets and the tax rates in 2016 issued in Official Gazette Nr. 29573, dated 25 December 2015 are shown below:

 

 

RATE

GROSS INCOME BRACKETS

Up to 12.600 TL

15%

For the 12.600 TL of 30.000 TL the tax is 1.890 TL, in excess

20%

For the 30,000 TL of 69,000 TL the tax is 5,370 TL, (in wages for the 30.000 TL of 110,000 TL 5,370 TL), in excess

27%

For the 69,000 TL of income over 69,000 TL the tax is 15,900 TL, (in wages for the 110,000 TL of income over 110,000 TL the tax is 26,970 TL), in excess

35%

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