02.01.2024/1
Income Tax Law Amounts and Rates to be Applied in 2024 Determined
With the Income Tax General Communiqué No.324 Serial No.324 published in the Official Gazette dated 30.12.2023 and numbered 32415 (2nd Repeated), the fixed rates and amounts included in Articles 9/10, 21, 23/8, 23/10, 31, 40/1, 40/7, 47, 48, 68, repeated 80, 82, 86, 103 and repeated 121 of the Income Tax Law and increased by the revaluation rate, and the issues regarding the application of collective document issuance for taxpayers subject to simple procedure are explained.
Information on these limits and amounts is given below:
1. The tariff based on the taxation of income subject to income tax in the first paragraph of Article 103 of Law No. 193 has been redetermined as follows to be applied for the taxation of income for the calendar year 2024:
| Up to 110,000 TL | 15% |
|---|---|
| For 110,000 TL of 230,000 TL, 16,500 TL, excess | 20% |
| For 230,000 TL of 580,000 TL, 40,500 TL (for wage income, 40,500 TL for 230,000 TL of 870,000 TL), excess | 27% |
| For 580,000 TL of 3,000,000 TL, 135,000 TL (for wage income, 213,300 TL for 870,000 TL of 3,000,000 TL), excess | 35% |
| For 3,000,000 TL of amounts exceeding 3,000,000 TL, 982,000 TL (for wage income, 958,800 TL for 3,000,000 TL of amounts exceeding 3,000,000 TL), excess | 40% |
2. The exemption limit for tradesmen who sell the products they manufacture in their homes over the internet and similar electronic media has been increased from 700.000,00 TL to 1.100.000,00 TL.
3. The residential rental income exemption has been increased from 21.000,00 TL to 33.000,00 TL.
4. The exemption amount for the benefits provided by employers to their employees by providing meals to them in places other than the workplace or outbuildings of the workplace has been increased from 110,00 TL to 170,00 TL.
5. The exemption amount for the transportation expenses incurred by employers in order to ensure that the service personnel travel to and from their workplaces collectively has been increased from 56,00 TL to 88,00 TL.
6. Disability discount amounts in the second paragraph of Article 31 of the Law;
– For the first degree disabled, 6,900 TL
– For people with second degree disabilities 4.000 TL,
– For people with third degree disabilities 1.700 TL
as the most important factor in the development of the country’s economy.
7. The amount of monthly rent that can be shown as expense for each of the passenger cars acquired through leasing has been increased from 17.000,00 TL to 26.000,00 TL .
8. The total amount of special consumption tax and value added tax related to the acquisition of passenger cars that can be shown as an expense has been increased from 440.000,00 TL to 690.000,00 TL.
9. The amount that can be deducted as depreciation in the acquisition of passenger cars; 790.000,00-TL excluding special consumption tax and value added tax, and 1.500.000,00-TL in cases where taxes are added to the cost price or the passenger car is acquired second hand.
10. The total rental fee, which is one of the conditions for being subject to simple procedure, has been determined as 55.000,00-TL within the metropolitan municipality boundaries and 34.000,00-TL in other places.
11.The limits in Article 48 regarding the special conditions of being subject to simple procedure are determined as follows:
– (1) 690.000,00-TL and 1.100.000,00-TL for the item numbered subparagraph,
– (2) 340.000,00-TL for sub-paragraph numbered,
– (3) 690.000,00-TL for subparagraph numbered.
12. The exemption amount for value shot gains has been increased from 55.000,00 TL to 87.000,00 TL.
13.The exemption amount for incidental gains has been increased from 129.000,00 TL to 200.000,00 TL.
14. The declaration limit for movable and immovable capital income not subject to withholding and exemption in subparagraph (d) of paragraph (1) of the first paragraph of Article 86 has been increased from 8.400,00 TL to 13.000,00 TL.
15. The maximum annual deduction amount that can be utilized regarding the tax compliant taxpayer discount has been increased from 4.400.000,00 TL to 6.900.000,00 TL.
16.The special rates for commodities such as national lottery tickets, fuel, sugar and the like, whose profit rates have been determined as low compared to their counterparts, have been determined as follows:
| Type of Commodity | In Areas Outside Metropolitan Municipality Boundaries | In Areas Within Metropolitan Municipality Boundaries | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Annual Purchase Limit (TL) | Annual Sales Limit (TL) | Annual Purchase Limit (TL) | Annual Sales Limit (TL) | ||||||||
| Valuable Paper | 1,180,000 | 1,300,000 | 1,400,000 | 1,700,000 | |||||||
| Sugar-Tea | 870,000 | 1,180,000 | 1,100,000 | 1,400,000 | |||||||
| National Lottery Tickets, Instant Win, Super Toto, etc. | 870,000 | 1,180,000 | 1,100,000 | 1,400,000 | |||||||
| Alcohol (Excluding Beer and Wine) – Spirit – Cigarettes – Tobacco | 870,000 | 1,180,000 | 1,100,000 | 1,400,000 | |||||||
| Fuel (Excluding LPG) | 1,300,000 | 1,400,000 | 1,700,000 | 2,000,000 | |||||||
In order for those who trade the aforementioned substances to benefit from the simple procedure in the 2024 calendar year, their purchases, sales or revenues should not exceed the above-mentioned limits as of 31.12.2023.
17. It has been deemed appropriate to continue until 31.12.2024 the practice of issuing a single invoice at the end of the day for the daily revenues of the taxpayers subject to simple procedure, which was introduced with the Income Tax General Communiqué (Serial No: 215) published in the Official Gazette dated 6.12.1998 and numbered 23545.
The relevant Press release is available here.
Sincerely,
BİLGENER
