Introduction
The amount of minimum wages for the next year is determined in the meeting made in December being the last month of the previous year.
The institution which determines the amount of minimum wage is titled “Minimum Wage Determination Commission”.
Members of the Commission are listed below:
– 5 people – Representatives on behalf of the Government
– 5 people – Representatives from Turkish Company Union (on behalf of workers)
– 5 people – Turkey’s Employers’ Association
The amount of minimum wage in 2017 is supposed to be declared before the year ends.
1- What were the Amounts of Minimum Wages in Turkey for the Last Years?
The gross amounts of Minimum wages for 13 years between 2005 and 2017 are shown in the table below.
In the last column of the table, one may see the increase rate of minimum wages in comparison with the previous year.
The increase rate of minimum wage in 2016 is higher compared to the previous years. As minimum living allowance was included in minimum wage. In the previous years, minimum living allowance was not included in minimum wage.
2- How much is the Minimum Wage in 2016?
Minimum wage in 2016 including minimum living allowance;
Gross: 1.647,00 TL
Net: 1.176,47 TL
Minimum Living Allowance: 123,53 TL (minimum)
Net Paid: 1.300,00 TL (including minimum living allowance)
3- How much is the Minimum Wage in 2017?
The gross amount of minimum wage in 2017 is 1.777,50 TL and the minimum amount for an employee is 1.404,06 TL including minimum living allowance. Minimum living allowance is included in that amount. There will not be added minimum living allowance to the expounded amount.
Minimum wage in 2017 including minimum living allowance;
Gross: 1.777,50 TL
Net: 1.270,75 TL
Minimum Living Allowance: 133,31 TL (minimum)
Net paid: 1.404,06 TL (including minimum living allowance)
4- Where Would You Like to Live?
If minimum wage is taken into consideration while giving an answer to this question, the answer will be Luxembourg, the Netherlands, Australia or Belgium. For those countries have the maximum amount of minimum wage, according to Organization for Economic Co-operation and Development. Below, one may find the amount of annual minimum wages of some countries in the World in line with the data given by Organization for Economic Co-operation and Development. Turkey ranks number 20 in the list.
Date: 20 March 2017
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
