2016 Legal Parameter Changes

• Income Tax Exempted Food Allowance

Meal allowance tax exemption amount that is applied as of 1st January 2016 was announced in 290 serial numbered Income Tax General Communique on 25.12.2015 with Official Gazette. According to this announcement, meal allowance, which is provided by the employer outside of the workplace and workplace outbuildings as defined in the Income Tax Law's 23rd Articles, exemption amount is defined as 13,70 TL for 2016.

• Disablement Degree Discount

Disability tax discount amounts which are applied as of 1st January 2016 come into force with publication of 290 serial numbered Income Tax General Communique on 25.12.2015 and 29573 numbered Official Gazette.

According to this announcement, disability tax exemption which is defined in the Income Tax Law's 31st Article are as follows;

• 1^st degree 900 TL
• 2^nd degree 460 TL
• 3^rd degree 210 TL

• Income Tax Brackets of 2016

Income tax brackets that are used in salary calculations as of 1st January 2016 was published in 290 serial numbered Income Tax General Communique on 25.12.2015 and with Official Gazette.

According to this announcement,

• Stamp Tax Rate

The new stamp tax amount which will be applicable to declarations has been announced in the official gazette numbered 29573, dated 25.12.2015, and is as shown below:

1. Stamp tax amount of Social Security Declaration is 23,50 TL
2. Stamp tax amount of Withholding Tax Declaration is 31,50 TL

Please contact your customer representative for additional information and requests regarding above matter.