NEWS Accounting        28/11/2020

Turkey’s increase in tax, penalty and other charges is 9.11% as of beginning of 2021

The Treasury and Finance Ministry has announced in the Tax Procedural Law General Regulation as published in the Official Gazette the revaluation rate of 9.11% which will be applied to tax, penalty and other charges as of January 1st, 2021. This rate of 9.11% will be applied unless there is a Presidential decree or ministerial decree to the contrary. The president has the authority to increase the rate by no more than 50% and to decrease the rate by no more than 20%.


Property tax paid to municipalities has been increased by 4.55%, half of the revaluation rate.


Salaries paid to government employees will be increased by 3% as of 01.01.2020 and again by 3% as of 01.07.2020, resulting in a total annual increase of 6.1%.



Turkey’s net minimum wage has been raised 49% to TL 17,002 (USD 577) as of 01.01.2024       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s official annual inflation rate decreases to 71.60% in June 2024       Turkey’s official unemployment rate is 8.4% in May 2024       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 85,372,377 as of 2023 yearend       No. of foreigners visiting Turkey in 2023 increases 10.4% to 49.2 million       Turkey’s private sector foreign debt is USD 164 billion as of yearend 2023       Turkey’s economy grew 4.5% in 2023       FDI to Turkey is USD 10.6 billion in 2023       Turkey’s current account deficit is USD 45 billion in 2023