02/01/2024

Overview of Key Financial and Employment Regulations for 2024 in Turkey

Regulations Turkey 2024

As we step into the year 2024, several changes in financial and employment regulations in Turkey have been announced, impacting child and family assistance, intern fees, wages for foreign employees, food aid, travel and food assistance income tax exemptions, disabled discounts, and income tax tariffs.

In this article, we will delve into the specifics of these regulations in Turkey for 2024 to provide a comprehensive understanding of their implications.

2024 Child and Family Assistance SSI Exemption in Turkey

For the year 2024, notable exemptions have been introduced for child allowance/increase and family allowance payments. The exemption amounts are as follows:

  • SSI Exception Child Aid: ₺400.05
  • Family Assistance: ₺2,000.25

Intern Fees for 2024 in Turkey

Intern employment wages have been determined based on the 2024 minimum wage announcement. The fee structure is categorized as follows:

  • Intern Fee for Workplaces with 20 or More Employees: ₺5,100.64
  • Intern Fee for Workplaces with Less than 20 Employees: ₺2,550.32
  • Journeyman Wage/Vocational Education (M.12th grade): ₺8,501.06
  • Apprentice and Candidate Apprentice Fee: ₺5,100.64

Wages of Foreign Employees in 2024 in Turkey

In line with the increase in the minimum wage for 2024, minimum wage amounts applicable to work permit applications for foreign employees vary based on job roles. The structure is as follows:

  • For senior managers and pilots: 6.5 times the minimum wage (₺130,016.25)
  • Unit or branch managers, engineers, and architects: 4 times the minimum wage (₺80,010.00)
  • Jobs requiring expertise and mastery, teachers, doctors: 3 times the minimum wage (₺60,007.50)
  • Jobs such as acrobat in tourism-animation, masseurs, and SPA therapists: 2 times the minimum wage (₺40,005.00)
  • Other professions (salesperson, marketing or export officer): 1.5 times the minimum wage (₺30,003.75)
  • Foreigners employed in domestic services: Minimum wage (₺20,002.50)

2024 Food Aid SSI Exemption

A daily food aid exemption of ₺157.69 has been established under the SSI Premium Exemption for the year 2024.

2024 Travel and Food Assistance Income Tax Exemptions

Employers providing meals and travel allowances to employees can benefit from income tax exemptions in 2024. The exemptions are as follows:

  • Food Aid: ₺170 per day
  • Road Card: ₺88 per day

Disabled Discount Amounts for 2024

Employees entitled to a disabled tax deduction based on their obstacle rate and degree of disability will benefit from the following discounts:

  • 80% and above: 1st Degree Disability Discount ₺6,900
  • 60% – 80%: 2nd Degree Disability Discount ₺4,000
  • 40% – 60%: 3rd Degree Disability Discount ₺1,700

2024 Income Tax Tariff

The income tax tariff for wage calculations in 2024 is structured across five brackets:

  • 1st Tax Bracket (15%): 0 – ₺110,000
  • 2nd Tax Bracket (20%): ₺110,000 – ₺230,000
  • 3rd Tax Bracket (27%): ₺230,000 – ₺870,000
  • 4th Tax Bracket (35%): ₺870,000 – ₺3,000,000
  • 5th Tax Bracket (40%): ₺3,000,000 and above

These regulations for 2024 in Turkey encompass a wide range of financial and employment aspects, aiming to provide clarity and structure to various components of the workforce. Employers and employees alike should stay informed about these changes to ensure compliance and make informed financial decisions in the coming year.