In Turkey, Payroll Parameters are strictly connected with minimum wage usually determined twice to cover the first and second half of the year; however as an exception minimum wage of 2016 has been raised for ones and will be the same all along the 2016. As result of this only …

CALCULATION OF NET MINIMUM WAGE/GROSS TO NET          TL MINIMUM GROSS WAGE 1.647.00 SSI EMPLOYEE  CONTRIBUTION (%14) 230,58  UNEMPLOYMENT PREMIUM – EMPLOYEE ( % 1 ) 16,47  INCOME TAX BASE 1.399,95  AMOUNT OF INCOME TAX 209,99  STAMP TAX 12,50  TOTAL EMPLOYEE DEDUCTION 469,54 MINIMUM LIVING ALLOWANCE (SINGLE) 123,53 NET  MINIMUM WAGE …

   Labor Minister Süleyman Soylu  announced that Minimum Wage Determination Committee has reached an agreement on the monthly minimum net wage that will be 1.300 TL ($446) by the beginning of the year 2016 as expected.  And the most-awaited news for the business community, related to  incentives and subsidies to …

Unemployment rate of women and youths are comparatively high in employable workforce in Turkey. One of the most important regulations to encourage the employment of these groups is the provisional articles added to the Unemployment Insurance Law Nr 4447 by Bag Law Nr 6111. Colloquially known as “incentive 6111” is …

As we are approaching towards the end of 2015 new payroll parameters to be applied during next year comes to light one by one. 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 …

In our recent article dated 22 December 2015 we discussed on “Incentives for Employees with Disability” which also includes the 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 The increased monthly amounts to …

In today’s globalizing economies we witness an international labor movement, almost in every country of the world increasing number of foreign people with various nationality, belief and tradition are being employed. Without prejudice to international treaties based on reciprocity principle, all foreign employees are subject to governing labor legislation of …

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 …

As the new year is approaching finance departments of many companies are very busy with the hard task of preparing the next year’s annual budget which will be a guideline for the future spending and activities of the company.   What makes the upcoming year special is the %30 rise …

Turkish PM Davutoglu announced his government’s 2016 Action Plan intended for the realization of pre-election pledges, and includes some critical reforms which will have serious impact on the business world. The plan will be implemented according to a schedule and contains numerous reforms and promises which will be put into …