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Income Tax Withholding Support in Turkey

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Income Tax Withholding Support in Turkey

The withholding tax imposed on the income tax of employees will not be levied for new staff employed for the investments made in Region 6. This support will be available for the investments in Region 6 only. There is no upper limit for income tax withholding support and it is applicable for 10 years.

Income Tax Withholding Support Example

Amount of Income Tax Withholding Support*

 

= (Additional Employment) x (Term**) x (Income Tax Withholding)
= 50 employees x 120 months x 119.91 TL
= 719,460 TL

 

* This is the maximum amount from which the subsistence allowance will be deducted.
** Term is expressed in “months”.
***The amount for the 2nd half of year 2012.


Source: Ministry of Trade (link: https://www.trade.gov.tr/investment/investment-content/income-tax-withholding-support)
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


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