Business in turkey

Business in turkey

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USD

Total Cost for Employer****

593.34

Net Minimum Wage

398.88

Gross Minimum Wage

504.97

Social security premium payment (14%)

70.70

Payment for the unemployment insurance fund (1%)

5.05

Income tax (15%)*

26.51

Minimum living allowance**

37.87

Stamp tax (0.759%)

3.83

Total Deduction

106.09

Cost for Employer

Gross minimum wage

504.97

Employer’s share of the social security premium (15.5%)***

78.27

Employer’s payment for the unemployment insurance fund (2%)

10.10

* Calculation of income tax is [(504.97 – 70.70 – 5.05) x 0.15] – 37.87

** For single individuals without children and may vary according to marital status and the number of children.

*** As regards premiums that are paid in due time, as an incentive, a five-point reduction is applied (down from 20.5% to 15.5%).

**** USD 0.95/day of the total cost for the employer will be covered by the Undersecretariat of the Treasury according to the eligibility conditions.

Source: Ministry of Labor and Social Security

Valid for January 1, 2017 – December 31, 2017

USD 1 = TRY 3.52 as of December 2016

cost of electricity*

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Captive Customers

(USD/kWh)

Eligible Customers

(USD/kWh)

Industry mid-voltage (Double-Term Tariff)

0.072

0.060

Industry mid-voltage (Single-Term Tariff)

0.074

0.062

Source: Energy Market Regulatory Authority (EMRA), January 2017

* Excluding VAT

USD 1 = TRY 3.52 as of December 2016

cost of water for industrial use

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Reference Price USD/m3

Type of Customer

Water

Waste Water

Water VAT (%)

Industry

2.88

included

8

Organized Industrial Zones (OIZs)

Water

Water VAT (%)

Waste Water

Waste Water VAT (%)

Eskişehir OIZ

0.18

8

0.18

8

Mersin OIZ (with joint treatment plant)

0.85

8

Source: Istanbul Water and Sewerage Administration (ISKI)

Eskişehir Water and Sewerage Administration & Mersin Water and Sewerage Administration

USD 1 = TRY 3.52 as of December 2016

cost of natural gas*

Gas Sales Tariff for Customers that have a Signed Gas Sales Agreement with BOTAS

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USD/kWh

USD/Sm³

Less than 300,000 Sm³

0.020

0.216

OIZ

0.018

0.199

More than 300,001 Sm³

0.018

0.200

Source: Petroleum Pipeline Corporation (BOTAS), January 2017

* Excluding SCT and VAT

USD 1 = TRY 3.52 as of December 2016

cost of broadband services

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Fibernet and Hypernet

(USD/month)

Metro Ethernet and G.SHDSL

Requirement specific

Download Speed (Mbps) – unlimited tariffs

Rates

Up to 24

71.30

Up to 35

87.20

Up to 50

113.90

Up to 100

162.20

Up to 1000

316.75

All taxes included.

Source: TTNET

USD 1 = TRY 3.52 as of December 2016

2019-01-10T18:44:45+03:00