Practical Information

MINIMUM WAGES
For over 16 (01.01.2018 – 31.12.2018)

2.029,50TL

INVENTORY AND DEPRECIATION LIMIT
Inventory and Goodwill as Immediately Expenses Items (01.01.2018 – 31.12.2018)

1.000,00 TL

INCOME BASE AND TOP ASSESSMENTS SUBJECT TO PREMIUM
Base (01.01.2018 – 31.12.2018)

2.029,50 TL

Top (01.01.2018 – 31.12.2018)

15.221,40 TL

CASH REGISTER SLIP ISSUE LIMIT
Retail Sales Slip and Cash Register Slip Issue Limit

1.000 TL

FOOD ALLOWANCE EXEMPTION (in terms of Income Tax)
Exempted amount for food allowance granted by employers to servants

16 TL

RENTAL WITHHOLDING RATE
Rental withholding

20%

PROVISIONAL TAX RATES
For Income Tax-payers

15%

For corporate tax-payers

22%

SEVERANCE PAY TOP LIMIT
Severance Pay Top Limit (2018)

5.001,76 TL

INCOME TAX TARIFF
Up to TL 14.800

15%

TL 2.220 over for TL 14.800 of TL 34.000; over

20%

TL 6.060 over for TL 34.000 of TL 80.000

27%

TL 18.480 over for TL 80.000 of exceeding TL 80.000

35%

INCOME TAX TARIFF

(EMPLOYEES)

Up to TL 14.800

15%

TL 2.220 over for TL 14.800 of TL 34.000; over

20%

TL 6.060 over for TL 34.000 of TL 120.000

27%

TL 29.280 over for TL 120.000 of exceeding TL 120.000

35%

LIABILITY TO UTILIZE INVOICE
Liability to utilize invoice

1000 TL

BOOK-KEEPING LIMITS ACCORDING TO BALANCE SHEET BASIS
Annual Purchase Amount

190.000 TL

Annual Sales Amount

260.000 TL

Total of Gross Revenue and Annual Sales Amount

100.000 TL

Total of 5x Revenue and Annual Sales Amount

190.000 TL

EXEMPTION FOR RESIDENCE RENTAL INCOME
Exemption amount

4.400 TL

ANNUAL PAY LEAVE
Service term from 1 to 5 years (incl.)

14 days

Service term from 5 to 15 years

20 days

Service term from 15 years and more

26 days

Annual pay leave for ≤18 and ≥50 years old employees

At least 20 days

NOTICE TERMS
For employees with service term less than 6 months

2 weeks

For employees with service term from 6 months to 1 and a half year

4 weeks

For employees with service term from 1 and a half year to 3 years

6 weeks

For employees with service term exceeding 3 years

8 weeks

Documents subject to stamp duty (Table I) and Rates
I. Documents related to contracts
A. Documents including a certain amount:
1. Agreements, undertakings, assignments

0,948%

2. Lease agreements (over rental according to lease period)

0,189%

3. surety, guarantee and pledge certificates

0,948%

4. Bonds of arbitration and settlements

0,948%

5. Terminations (including the ones related to a document which sets forth an amount)

0,189%

6. (Amended: 5766/10-b cl.) (Effectiveness: 6/6/2008) Agreements related to sales and transfer of used vehicles recorded and registered
under Road Traffic Law

0,189%

DECLARATION AND PAYMENT PERIODS
Declaration and Payment Periods

RETURN

ISSUE PERIOD

PAYMENT PERIOD

Income Tax Declaration (for factual procedures)

25 March

30 March-30 July

Corporate Tax Declaration

25 April

30 April

1st Provisional Tax Declaration (January-March)

14 May

17 May

2st Provisional Tax Declaration (April-June)

14 August

17 August

3st Provisional Tax Declaration (July-September)

14 November

17 November

4st Provisional Tax Declaration (October-December)

14 February

17 February

Withholding Tax Declaration (monthly)

23th of following month

26th of following month

Withholding Tax Declaration (quarter, January-March)

23 April

26 April

Withholding Tax Declaration (quarter, April-June)

23 July

26 July

Withholding Tax Declaration (quarter, July-September)

23 October

26 October

Withholding Tax Declaration (quarter, October-December)

23 January

26 January

VAT Declaration

24th of following month

26th of following month

Stamp Duty Declaration

24th of following month

26th of following month

SGK Monthly Declaration

23th of following month

At the end of following month

FORM BA, BS
The limit applicable for purchase and sales of goods and/or services for tax-payers with regard to 2010 and subsequent periods’ monthly
terms is amended s TL 5.000,-.
COMPANIES AND AMOUNTS SUBJECT TO INDEPENDENT AUDIT
Resolution on Determination of Companies to be subject to Independent Audit (companies exceeding at least two of the following conditions
in consecutive two fiscal terms are subject to independent audit)
1.
total assets ≥ 40 million TL
2.
Annual net sales revenues ≥ 80 million TL
3.
Number of employees ≥ 200