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Turkey Updates Individual Income Tax Brackets for 2024

05 January 2024

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Approved Changes

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Turkey

Turkey published Income Tax General Communiqué No. 324 in the Official Gazette on 30 December 2023, which provides updated individual income tax values for 2024. This includes the following tax brackets and rates for employment income: up to TRY 110,000 - 15% over TRY 110,000 up to 230,000 - 20% over TRY 230,000 up to 870,000 - 27% over TRY 870,000 up to 3,000,000 - 35% over TRY 3,000,000 - 40% For other non-employment income, the number of brackets and rates are the same, but the 35% bracket threshold is TRY 580,000 as follows: up to TRY 110,000 - 15%...