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%.

 

 



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