Turkey

Last Update by Katie, 28 May 2024

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Exchange Rate

13 Jun 2024

 

Cost of Living

Indicative value for a working adult in a city: Instanbul

Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff

Living Requirement Indicative Amount (TRY)
McDonalds Set Meal 204
Monthly Train and Bus Tickets 1,177
3 Bedrooms Rental (City Center) 52,000
3 Bedrooms Rental (Outskirt) 28,000

Current Inflation Rate

67%

Wage

Minimum Wages

  • The statutory net monthly minimum wage is 17,002.12 TRY

Median Salary

Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.

Job Level Monthly Salary (TRY)
Entry-Level
Fresh Graduate
17,002.12
Mid-Level
5 Years
30,000
Experienced & Managerial Level
10 Years
38,000
Specialized & Senior-Level
15 Years
50,000

Annual Salary Growth

5.5%

Statutory Contribution

If payments for Social Security are paid in a timely manner, the employer can apply for a 5% discount (Incentive No. 5510)
SSI Base is 20,002.50 TRY and Ceiling is 150,018.90 TRY.

Country Level

Type Employer Rates Employee Rates Notes
Short-Term Insurance Branch Premium 2% - All staff
Pension & Disability 11% 9% All staff
General Health Insurance 7.5% 5% All staff
Unemployment Insurance 2% 1% All staff

Other Benefit

Other common employment benefits in Turkey include:

  • Pension Allowance: Around1,560 TNY / year
  • Health Insurance Allowance: Up to 11,000 TNY / Year
  • Meal Allowance: 110 TNY / day

Income Tax

Residents

  • Tax rates from 1st January - 31st December 2024
    The annual tax return for the year has to be filed by 31 March-no extensions available

Country Level

Taxable Income Rate
Up to 110,000.00 15%
110,000.01 - 230,000 20%
230,000.01 - 870,000 27%
870,000.01 - 3,000,000 35%
Over 3,000,000.01 40%

Non-residents

  • Non-Residents are taxed on Turkish-source earnings only. Same tax rate applies. Non-residents leaving Turkey have to settle full tax liability within 15 days before departure.

Working Hours

Statutory

45 hours
9 hours a day, 5 days a week

Typical practice

45 hours
Monday - Friday

Overtime

Starts after the 45th hour of work unless otherwise specified in the contract

  • - Staff cannot work more than 11 hours daily inclusive of overtime
    - The total number of overtime hours cannot be over 270 per year
  • - Compensation for overtime is 50% more than the normal rate of pay
    - Staff can be compensated with free time instead, at the rate of 1.5 hours per hour of overtime work.
    - Written consent from the employee is required to request the employee work on public holidays

Employment Contract

Fixed-Term

Minimum for 3 months, no requirement for the termination notice as well as the severance pay at the end.
Cannot be renewed in a consecutive manner, unless there are solid grounds, otherwise, such contracts are considered to be Indefinite-Term.

Probation

1 - 4 months through collective bargain agreements.
The parties may terminate the employment contract during the probation period without prior notice and no compensation.

Termination

Fixed-term employment contracts automatically expire at the end of the contract period. For this reason, there is no need for the employee or the employer to give a notice of termination.

Public Holiday

15 days (National and Religious)

Country Level

Date Name
01 Jan New Year's Day
10 Apr - 12 Apr Ramazan Bayrami Holiday
23 Apr Children's Day
01 May Labor Day
19 May Commemoration of Atatürk, Youth and Sports Day
16 Jun - 19 Jun Kurban Bayrami Holiday
15 Jul Democracy and National Unity Day
30 Aug Victory Day
29 Oct Republic Day

Leave

Leave Type Entitlement Notes
Annual Leave At least 14 working days All staff
Maternity Leave 16 weeks All expectant mothers
Paternity Leave 5 working days All expectant fathers
Sick Leave 6 weeks plus notice period All staff
Bereavement Leave 3 working days All staff
Marriage Leave 3 working days All staff
Military Leave 90 Calendar days All staff

Reference

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