Capital companies are the most common form of business entities in Turkey utilized by both local and foreign investors. It is the company established with participation of 1 and maximum 50 real person or legal entities. Minimum capital of 5.000 TL is mandatory. Unlike joint stock companies no stock certificate is issued. The main difference between the two company types lies in liability perspective. Although, they a ...

1. Types of Employment Contracts There are various types of employment contracts: Employment contracts for “temporary” and “permanent” work.Employment contracts for a “definite period” or an “indefinite period”.Employment contracts for “part-time” and “full-time” work.Employment contracts for “work-upon-call”.Employment contracts with a trial period 1.1 Temporary Employment Contracts A temporary contract is for work ...

Under the Labor Law, the maximum regular working hours are 45 hours per week. In principle, 45 hours should be split equally among the working days. In the case that parties of employment contract agreed to disarrange the weekly working hours, daily limit of working hours cannot exceed 11 hours. However, in accordance with the Labor Law, working hours may be arranged by the employer within the legal limits. ...

The Labour Code numbered 4857 (“Labour Code”) regulates the working conditions and also rights and obligations of the employees and employers. The employment contract is a contract that one party (the employee) undertakes to perform a work and the other party (the employer) undertakes to pay salary for such services. Termination of employment contract, either by employee or by employer is subject to strict rules arra ...

In Turkey, there are minimum wage based amount determined by the government and revalued according to inflation. In 2018, gross minimum gross salary is 2.029,00 TRY. Calculation of Minimum Salary/Gross To NetTRYGross Salary    3.577,50Social Security Premiums – Employee’s Share (%14)      500,85Unemployment Premıum – Employee’s Share ( % 1)       35,78Income Tax Base    3.040,87Income Tax (15 %)     187,82S ...

A) Taxes On Profit And Income Turkish direct taxation system consists of two main taxes; individual income tax and corporate income tax. An individual is subject to the personal income tax on its income and earnings, in contrast to a company which is subject to corporate income tax on its income and earnings. 1. Personal Income Tax  Real persons’ income is subject to individual income tax. Income is de ...

There are specific rules for payroll and taxation in the Turkey. The primary responsibilities for a foreign company that needs to comply with tax laws in Turkey are: individual income tax for employees, Social Security costs, payroll tax. There is also unemployment insurance that is paid by the employer, as well as workers’ compensation funds. 1)Gross Salary Gross Salary refers to the amount of salary which is earned ...

We can help you minimize the cost of your business decisions. Our knowledge of Turkey’s tax law and regulations and our experience will help you to make correct and informed decisions. We aim to offer effective and reliable results to you, in the light of the laws and regulations in force in Turkey. We also offer tax consultancy services to help you to manage your tax risks. We provide wide range of “Tax Consultancy ...

A) Taxes On Profit And Income Turkish direct taxation system consists of two main taxes; individual income tax and corporate income tax. An individual is subject to the personal income tax on its income and earnings, in contrast to a company which is subject to corporate income tax on its income and earnings. 1. Personal Income Tax  Real persons’ income is subject to individual income tax. Income is de ...

Turkey’s economy has performed remarkably well with its steady growth over the past 16 years. A sound macroeconomic strategy, prudent fiscal policies, and major structural reforms have all contributed to the integration of Turkey’s economy into the globalized world while also transforming the country into one of the major recipients of FDI in its region. These reforms have increased the role of the private sector in ...