IMPORTANT TAX PARAMETERS FOR 2017 PAYROLLS

Important tax parameters for 2017 payrolls

It is necessary to update the parameters in relation to personnel payrolls which constitute the majority of the work load of Human Resources and Financial Affairs Departments towards the end of January. In that context, it is necessary to carry out the transactions by taking tax and social security parameters into consideration.

Tax rates and amounts shall be applied in 2017 calendar year as follows:

1- Tariff taken as basis in taxation of the incomes subject to income tax

The tariff taken as basis in taxation of the incomes subject to income tax included in the first clause of the article 103 of the Income Tax Law is determined as follows to be taken as basis in the taxation of incomes in 2017 calendar year:

– Up to TRY 12.600:        15%

– Up to TRY 30.000:        TRY 1.890 for TRY 12.600 and 20% for the excess amount

– Up to TRY 69.000:        TRY 5.370 for TRY 30.000 (TRY 5.370 for TRY 30.000 out of TRY 110.000 for wages), 27% for the excess amount

– Over TRY 69.000:          TRY 15.900 for TRY 69.000 (TRY 26.970 for TRY 110.000 out of over TRY 110.000 for wages), 35% for the excess amount

2- Exception amount in relation to benefits provided by means of providing food to the employees in the places other than the workplace and annexes of the workplace

Exception amount in relation to benefits provided by means of providing food to the employees in the places other than the workplace and annexes of the workplace which is included in the 8th paragraph of the first clause of the article 23 of Income Tax Law is determined as TRY 13.70 to be applied in 2017 calendar year.

3- Tax deduction amounts for disabled people

Disability deduction amounts in the second clause of the article 31 of the Income Tax Law are determined as TRY 900 for first degree disabled, TRY 460 for second degree disabled and TRY 210 for third degree disabled to be applied in 2017 calendar year.

4- Exception amount applied in incomes from immovable property

Exception amount applied for residence rental incomes in the article 21 of the Income Tax Law was determined as TRY 3.800 for the rental income obtained in 2017 calendar year.

5- Amount in relation to workplace rent amount which is among the general provisions of being subject to simple procedure

Sum of annual rental amount included in the second paragraph of the first clause of the article 47 of the Income Tax Law was determined as TRY 6.300 within metropolitan municipalities and TRY 4.200 in other places to be applied in 2017 calendar year.

6- Limits which determine the special provisions of being subject to simple procedure

The limits in the first clause of the article 48 of the Income Tax Law are determined as follows to be applied in 2017 calendar year:

– TRY 88.000 and TRY 126.000 for first paragraph,

– TRY 42.000 for second paragraph,

– TRY 88.000 for third paragraph.

7- Exception amount in relation to incomes from increased value

The exception amount in relation to incomes from increased value which is included in the third clause of the duplicated article 80 of the Income Tax Law was determined as TRY 11.000 to be applied to incomes in 2017 calendar year.

8- Exception amount for incidental incomes

The exception amount in relation to incidental incomes included in the second clause of article 82 of the Income Tax Law was determined as TRY 24.000 to be applied to incomes in 2017 calendar year.

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