Turkey:
2021 1st Period - Maximum Severance Payment Amount
11 January 2021
CottGroup
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According to the 27998389 - 010.06.02.11638 numbered Circular
published by the Ministry of Treasury and Finance with the subject
'Financial and Social Rights', the coefficients used to
calculate the wage of public officers have been revised to be
effective as of 01.01.2021.
Income Tax Exempted Severance Pay
The following value has been calculated taking these
coefficients into account and shall be applied for the period
between 01.01.2021 – 30.06.2021 maximum severance pay to be
exempted from income tax is determined as TRY 7.638.96.
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.)
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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