Page 10 - EY-VG_Eylul_2022_v3

The table demonstrating the income and stamp tax advantages and net wages that an employee who earns a gross wage of 20
thousand liras per month is called to your attention below:

Tax
Insurance and Calculation Deducted Deducted
Total
Months Gross wage unemployment Income tax ıncome Exempted amount of income Calculation Exempted stamp deduction Net wage
exempted
stamp tax
stamp tax
base
tax base
premium tax* tax tax
tax base
January 20,000.00 3,000.00 17,000.00 2,550.00 4,253.40 638.01 1,911.99 151.80 37.98 113.82 5,025.81 14,974.19
February 20,000.00 3,000.00 17,000.00 2,650.00 4,253.40 638.01 2,011.99 151.80 37.98 113.82 5,125.81 14,874.19
March 20,000.00 3,000.00 17,000.00 3,400.00 4,253.40 638.01 2,761.99 151.80 37.98 113.82 5,875.81 14,124.19
April 20,000.00 3,000.00 17,000.00 3,400.00 4,253.40 638.01 2,761.99 151.80 37.98 113.82 5,875.81 14,124.19

May 20,000.00 3,000.00 17,000.00 4,450.00 4,253.40 638.01 3,811.99 151.80 37.98 113.82 6,925.81 13,074.19

June 20,000.00 3,000.00 17,000.00 4,590.00 4,253.40 638.01 3,951.99 151.80 37.98 113.82 7,065.81 12,934.19

July 20,000.00 3,000.00 17,000.00 4,590.00 5,500.35 825.05 3,764.95 151.80 49.11 102.69 6,867.63 13,132.37
August 20,000.00 3,000.00 17,000.00 4,590.00 5,500.35 1,051.11 3,538.89 151.80 49.11 102.69 6,641.58 13,358.42

September 20,000.00 3,000.00 17,000.00 4,590.00 5,500.35 1,100.07 3,489.93 151.80 49.11 102.69 6,592.62 13,407.38

October 20,000.00 3,000.00 17,000.00 4,590.00 5,500.35 1,100.07 3,489.93 151.80 49.11 102.69 6,592.62 13,407.38

November 20,000.00 3,000.00 17,000.00 4,590.00 5,500.35 1,100.07 3,489.93 151.80 49.11 102.69 6,592.62 13,407.38

December 20,000.00 3,000.00 17,000.00 4,590.00 5,500.35 1,100.07 3,489.93 151.80 49.11 102.69 6,592.62 13,407.38

Total 240,000.00 36,000.00 204,000.00 48,580.00 58,522.50 10,104.50 38,475.50 1,821.60 522.57 1,299.03 75,774.53 164,225.47
* The calculations are made according to income tax tariff regarding wage income obtained in 2022.

As it can be seen from both tables above, there is no change in the amount of advantage for those who earn more than the
minimum wage in 2022, depending on the amount of the wage. Within the scope of the minimum wage exemption, the annual
increase in the net wages of these employees in 2022 is 10,104.50 liras in income tax advantage and 522.57 liras in stamp
tax advantage, in other words 10,627.07 liras. If the minimum wage was not increased in July, this amount would have been
9,063.92 TL.

In the light of above, due to the income and stamp tax difference for employees whose wages are higher than the minimum
wage, it is observed that there is only a slight increase of 1,563.15 lira in the total of the last six months' net wages.

This is the summary of the article published in the Ekonomist magazine’s issue 2022/16, dated 07.08.2022.

Explanations in this article reflect the writer's personal view on the matter. EY and/or Kuzey YMM ve Bağımsız Denetim A.Ş. disclaim any responsibility
in respect of the information and explanations in the article. Please be advised to first receive professional assistance from the related experts before
initiating an application regarding a specific matter, since the legislation is changed frequently and is open to different interpretations.
10 September 2022