According to the Circular dated July 7, 2023 and numbered 27998389-010.06.02-2298391 published by the Ministry of Treasury and Finance with the subject 'Financial and Social Rights', the coefficients used to calculate the wage of a public officers have been revised effective July 1, 2023.
Income Tax Exempted Severance Pay
The following value has been calculated taking these coefficients into account and shall be applied for the period between the dates of July 1, 2023 and December 31, 2023, maximum severance pay to be exempted from income tax is determined as 23,489.83 TRY.
To access the full circular in which these announcements were made, please click here. (Please also be advised that the contents of this circular are in Turkish language.)
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