Income Tax Withholding Support in Turkey
The withholding tax imposed on the income tax of employees will not be levied for new staff employed for the investments made in Region 6. This support will be available for the investments in Region 6 only. There is no upper limit for income tax withholding support and it is applicable for 10 years.
Income Tax Withholding Support Example
| Amount of Income Tax Withholding Support*
|
= (Additional Employment) x (Term**) x (Income Tax Withholding) = 50 employees x 120 months x 119.91 TL = 719,460 TL |
* This is the maximum amount from which the subsistence allowance will be deducted.
** Term is expressed in “months”.
***The amount for the 2nd half of year 2012.
Source: Ministry of Trade (link: https://www.trade.gov.tr/investment/investment-content/income-tax-withholding-support)
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