According to 27998389 - 010.06.02-903791 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 a public officers have been revised effective 01.01.2022.

The previous Circular published on 06.01.2022 has been abolished.

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 01.01.2022 - 30.06.2022 maximum severance pay to be exempted from income tax is determined ?10,848.59 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.)

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.