Income Tax

Income tax tariffs- 2020 (Salaries)

Income Bracket Tax Rate (%)
Up to TRY 22.000 15
For 49.000; For the first TRY 22.000, TRY 3.300, for above 20
For TRY 180.000; For the first TRY 49.000, TRY 8.700, for above 27
For TRY 600.000; For the first TRY 180.000, TRY 44.070, for above 35
For  more than TRY 600.000; For the first TRY 600.000, TRY 191.070, for above 40

Income tax tariffs- 2020 (Other income)

Income Bracket Tax Rate (%)
Up to TRY 22.000 15
For 49.000; For the first TRY 22.000, TRY 3.300, for above 20
For TRY 120.000; For the first TRY 49.000, TRY 8.700, for above 27
For TRY 600.000; For the first TRY 120.000, TRY 27.870, for above 35
For  more than TRY 600.000; For the first TRY 600.000, TRY 195.870, for above 40

Daily meal allowance exempt from income tax (VAT excluded)

Year Amount (TRY)
2017 14,00 ₺
2018 16,00 ₺
2019 19,00 ₺
2020 23,00 ₺

Disability allowance (2020)

Degree of disablement Amount (TRY)
For 1. degree disabled 1.400,00 ₺
For 2nd degree disabled 790,00 ₺
For 3rd degree disabled 350,00 ₺

Minimum living allowance-TRY (2020)

Marital Status Monthly (TRY) Marital status Monthly (TRY)
Single 220,73 ₺
Married (spouse unemployed) and without children 264,87 ₺ Married (spouse employed) and without children 220,73 ₺
Married (spouse unemployed) and 1 child 297,98 ₺ Married (spouse employed) and 1 child 253,83 ₺
Married (spouse unemployed) and 2 children 331,09 ₺ Married (spouse employed) and 2 children 286,94 ₺
Married (spouse unemployed) and 3 children 375,23 ₺ Married (spouse employed) and 3 children 331,09 ₺
Married (spouse unemployed) and 4 children 375,23 ₺ Married (spouse employed) and 4 children 353,16 ₺
Married (spouse unemployed) and 5 children 375,23 ₺ Married (spouse employed) and 5 children 375,23 ₺

Exemption for house rental income

Year when the income is derived Amount (TRY)
2017 3.900,00 ₺
2018 4.400,00 ₺
2019 5.400,00 ₺
2020 6.600,00 ₺

Exemption in capital gains (Except securities)

Year when the gain is derived Amount (TRY)
2017 11.000,00 ₺
2018 12.000,00 ₺
2019 14.800,00 ₺
2020 18.000,00 ₺

Exemption in incidental income

Year when the income is derived Amount (TRY)
2017 24.000,00 ₺
2018 27.000,00 ₺
2019 33.000,00 ₺
2020 40.000,00 ₺

The upper limit of severance pay exempt from income tax

Period Amount (TRY)
01.01.2020 – 30.06.2020 6.730,15
01.07.2020 – 31.12.2020

Inheritance and Transfer Tax

Delay charge and delay interest rates (Monthly)

Period Rate (%)
05.09.2018 – 30.06.2019 2,00
01.07.2019 – 01.10.2019 2,50
02.10.2019 – 29.12.2019 2,00
Since 30.10.2019 1.60

Deferral interest rates (Annual)

Period Rate (%)
21.10.2010 – 05.09.2018 12
06.09.2018 – 24.10.2019 22
Since 25.10.2019 19
2020

Revaluation rates

Year Rate (%)
2016 3,83
2017 14,47
2018 23,73
2029 22,58

Limit for issuing invoice

Year Amount (TRY)
2017 900,00 ₺
2018 1.000,00 ₺
2019 1.200,00 ₺
2020 1.400,00 ₺

Depreciation limit

Year Amount (TRY)
2017 900,00 ₺
2018 1.000,00 ₺
2019 1.200,00 ₺
2020 1.400,00 ₺

Discount and interest rates to be applied in rediscount and advance transactions

In rediscount transactions 12.75 %
In advance transactions 13,75 %
In rediscount transactions under TPL 13,75 %

*Note: These rates are applicable to the transactions conducted as of 11.10.2019.

Minimum Wage and Social Security

Minimum wage and withholdings

Payments / withholdings 01.01.2019 – 31.12.2019 (TRY)
Gross minimum wage 2.943,40 ₺
Social security premium employee’s contribution (%14) 412,02 ₺
Unemployment insurance premium employee’s contribution (%1) 29,43 ₺
Income tax base 2.501,55 ₺
Income tax calculated (15 %) 375,23 ₺
minimum living allowance (single) (-) 220,73 ₺
Income tax to be withheld 154,50 ₺
Stamp duty (7,59 per thousand) 22,34₺
Total withholdings 618,29 ₺
Net minimum wage 2.324,71 ₺

Annual Gross minimum wage

Year Amount (TRY)
2017 21.330,00 ₺
2018 24.354,00 ₺
2019 30.700,00 ₺
2020 35.316,00 ₺

The lower and upper limits of montly earnings that will be the basis for social security premium 

Period Lower Limit (TRY) Upper Limit (TRY)
01.01.2020 – 31.12.2020 2.943,00 ₺ 22.072,50 ₺

Stamp Duty

Maximum stamp duty (For each paper)

Year Amount (TRY)
2017 1.865.946,80 ₺
2018 2.135.949,30 ₺
2019 2.642.810,00 ₺
2020 3.239.556,40 ₺

Stamp duty rates and amounts (2019)

Papers subject to stamp duty Rate / Amount
Contracts 9,48 per thousand
Wages (Including advances) 7,59 per thousand
Rental contracts 1,89 per thousand
Balance sheet 68,70 ₺
Income statement 32,90 ₺
Annual income tax return 89,10 ₺
Corporate tax return 119,00 ₺
Value added tax returns 58,80 ₺
Withholding and premium service returns 69,70 ₺

Tax Procedures Law (TPL) and Law No. 6183

Delay charge and delay interest rates (Monthly)

Period Rate (%)
05.09.2018 – 30.06.2019 2,00
01.07.2019 – 01.10.2019 2,50
02.10.2019 – 29.12.2019 2,00
Since 30.10.2019 1.60

Deferral interest rates (Annual)

Period Rate (%)
21.10.2010 – 05.09.2018 12
06.09.2018 – 24.10.2019 22
Since 25.10.2019 19
2020

Revaluation rates

Year Rate (%)
2016 3,83
2017 14,47
2018 23,73
2029 22,58

Limit for issuing invoice

Year Amount (TRY)
2017 900,00 ₺
2018 1.000,00 ₺
2019 1.200,00 ₺
2020 1.400,00 ₺

Depreciation limit

Year Amount (TRY)
2017 900,00 ₺
2018 1.000,00 ₺
2019 1.200,00 ₺
2020 1.400,00 ₺

Discount and interest rates to be applied in rediscount and advance transactions

In rediscount transactions 12.75 %
In advance transactions 13,75 %
In rediscount transactions under TPL 13,75 %

*Note: These rates are applicable to the transactions conducted as of 11.10.2019.