Income Tax Scale (2006)
In accordance with Article 103 of the Income Tax Law, the tax scale effective for calendar year 2007 revenues is:
15 percent up to 7.800 YTL
1.170 YTL for 7.800 YTL of 19.800 YTL, and 20 percent for the rest
3.570 YTL for 19.800 YTL of 44.700 YTL, and 27 percent for the rest
10.293 YTL for 44.700 YTL of over 44.700 YTL, and 35 percent for the rest will be taxed."
Corporations Tax Rate : 20 percent (from 01.01.2006)
Interim Tax Rates
For Income Tax : 15 percent
For Corporations Tax : 20 percent (from 01.01.2006)
Limit of Depreciation
600 YTL for YEAR 2008
560 YTL for YEAR 2007
The entire fixed assets under these values can be registered as cost.
For those which are integrity on economic and technical basis, this limit shall be considered in full. (V.U.K 313 ).
Tax Issue Limit
YEARS EXCEPTION AMOUNT
2008 600 YTL
2007 560 YTL
The invoice shall be issued for the amounts exceeding these values. However, if the customer requests, then the invoice shall obligatorily be issued regardless of the amount.
INVOICE ISSUANCE PERIOD
The invoice should be issued within minimum 7 days from the delivery of the date the good is delivered or the service is given.
The invoices, which are not issued in that period, shall be regarded as not issued at all.
Real Estate Tax Rates
Normal Locations Metropolises and
Contiguous Zones
Housing 1 per thousand 2 per thousand
Workplace 2 per thousand 4 per thousand
Land 3 per thousand 6 per thousand
Land 1 per thousand 2 per thousand
Exception Amounts for Housing Rent Income
YEARS EXCEPTION AMOUNTS
2008 2.400 YTL
2007 2.300 YTL
In the calendar year, no declaration shall be given if the housing rent income of Real Estate Capital Income owners with no Commercial, Agricultural and Professional income exceeds the exception amount.
Minimum Salary Amounts
Years For older than 16 Years of Age For younger than 16 Years of Age
2008 638,70
YTL 540,60 YTL
2007 585,00 YTL 491,40 YTL
Unemployment Insurance Premium
From 01.01.2002:
1 percent from the Employee, 2 percent from the Employer is deducted
NOTICE PERIODS AND SEVERANCE PAY AMOUNTS TO BE CONSIDERED WHEN THE SERVICE CONTRACT IS TERMINATED
SERVICE PERIOD NOTICE PERIOD PAY AMOUNT
For employment less than 6 months 2 Weeks 2 Weeks Salary
For employment from 6 months to 1,5 Years 4 Weeks 4 Weeks Salary
For employment from 1,5 Years to 3 Years 6 Weeks 6 Weeks Salary
For employment more than 3 Years 8 Weeks 8 Weeks Salary
The mentioned periods are the minimum periods, and they can be increased through contract. These periods are binding both for the employer and employee. The employer may terminate the employees' contract through cash payment of the employer subject to the notice period.
Minimum Annual Employee Leave Periods
Service Period
From 1 to 5 years (including 5 years) 14 work days
From 5 Years to 15 Years 20 work days
15 Years (included) and over 26 work days
For 18 years old and younger employees and 50 years old and older employees Minimum 20 work days
Certain Stamp Duty Rates
For Salaries 6 per thousand
Lease contracts 1,5 per thousand
Annual Income Tax 23,70 YTL
Corporations Tax Statement 26,30 YTL
Withholding Tax Return Statement 15,10 YTL
VAT Statements 15,10 YTL
Insurance Premiums Statements
Given to Social Security Corporations 11,20 YTL
In How Many Days Should the Applications Against Tax Penalties be Made?
Application should be made to the court within 30 days for penalty notices, and 7 days for payment orders.
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