While the expected increase was made in the minimum wage for 2022, the employer was afraid of the burden with this increase. However, in order to reduce this burden, it was announced that the income and stamp tax taken from the minimum wage would no longer be collected. Today, the law proposal, which includes not collecting income and stamp tax from the minimum wage amount of wages and salaries, was accepted in the Planning and Budget Committee of the Grand National Assembly of Turkey.
According to the accepted proposal, income and stamp tax will not be collected from the amount of all wages and salaries equal to the minimum wage. In the taxation of the wage income exceeding the exemption of the wages corresponding to the remaining amount after the worker’s SSI and unemployment insurance premiums are deducted from the monthly gross amount of the minimum wage valid in the month in which the payment is made, the amount and rates of the income segment for which the tax will be calculated will be determined by taking into account the amounts within the scope of the exemption.
For those who receive wages from more than one employer, the highest wage will be calculated.
Thus, after the tax amount to be paid is calculated, the portion corresponding to the exemption amount will be deducted from this amount. The tax that will not be collected due to the exception will not exceed the tax that should be calculated over the minimum wage in the relevant month. For those who receive wages from more than one employer, this exception will only be applied to the highest wage.
Since 85% of the monthly gross amount of the minimum wage will be exempted from income tax in the taxation of wage incomes, the Minimum Living Allowance regulation, which has no application area, will also be repealed. Stamp duty will not be collected on the part of the wages paid to the service personnel corresponding to the monthly gross minimum wage.
With the same proposal, the requirement that the installed capacity of solar power plants, which is considered as the exemption limit for the promotion of renewable energy production, to be 10 kilowatts, will be increased to 20 kilowatts.
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