According to the 27998389 - 010.06.02-854887 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 effective 01.01.2022.

Income Tax Exempted Severance Payment

The following value has been calculated taking these coefficients into account and shall be applied for the period between the dates of 01.01.2022 – 30.06.2022 maximum severance payment to be exempted from income tax is determined as?10,596.74 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.)

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.