Details of the supports on project-based innovative, R&D focused and high value-added product investments announced by a cabinet decree issued in Official Gazette No. 29900, dated 26 November 2016. Law No. 6745, article 80 has been authorized council of ministers to decide and implement such supports and incentives.
100% Corporate Tax exemption, Value Added Tax exception, and Custom Duty exemption in the import of machinery and equipment, free land allocation and many other incentives will be granted for eligible investments.
The “Law on Supporting Investments on Project-Basis … No. 6745,” intended to achieve innovative technology and higher value-added product investment by providing significant supports for innovative, R&D activities on project-basis, in order to get a sustainable economic growth rate and competitive capacity, has been issued in Official Gazette and is in force as of 7th September 2017.
It is only weeks to end of the year, and naturally the next year’s annual budget is on the agenda of all companies. Of course the budgets comprised of many cost/ income elements, no doubt it is very important to make correct predictions on employment costs for getting close to the actual expenses.
In this article we will try to help you by providing the estimated payroll parameters, with which employment cost of employer is strictly connected.
Almost all of the payroll parameters are derived from minimum wage which is determined by "Minimum Wage Fixing Board" (Labor Law 4857, article 39) every two years. Traditionally, wage rise is applied differently for the first and second half of the year, however 2016 is an exception and net minimum wage has increased %30, covering all year long.
As is known, Law No. 6663, which has been entered in force as of 10 February 2016, has introduced new choices for working women and adoptive parents, such as working half-time up to a certain periods and work part-time until the child begins to school, after the expire of statutory maternity leave and/or half-time work periods.
Now the fields and works in which the part time work is permissible, and application procedures and principles have been determined by the Regulation issued in Official Journal numbered 29882, dated 8 November 2016.
Currently daily cap of earning subject to premium are calculated as 6,5 times of daily minimum wage. This is the maximum limit that premium deductions can be made from, and it is 356,85 TRY (monthly 10.705,50 TRY) for 2016.
Now with the new government proposal, it is strongly expected that starting from the January 2017 the cap of earnings (both daily and monthly)subject to premiums will be increased to 7,5 times of daily (and monthly) minimum wage.
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