Annual income tax returns for 2020 income will be submitted to
the relevant tax offices in March 2021.
All incomes subject to annual income tax return should be
declared for the following income elements listed in Article 2 of
the Income Tax Law. You can find the details for the annual income
tax return obligation for wages below:
Components of Income;
- Commercial earnings,
- Agricultural earnings,
- Wages,
- Self-employment earnings,
- Revenue from real estate, immovable assets
- Revenue from securities, movable assets
- Other earnings and revenue.
Taxation of Wages
Wage term is defined in the Article 61 of Income Tax Law as
below:
"Article 61: Wages are money and goods
(cash and non-cash benefits) provided in compensation for services
to those who work under an employer and in association with a
specific place of business, as well as benefits derived which are
capable of representation in terms of money.
