Positive Development In Aid To Earthquake - Affected Employees

The Law on the Restructuring of Certain Receivables and Amendments to Certain Laws has entered into force by being published in the Official Gazette dated March 12, 2023. With some exceptions, cash aids made by the employer to the employee are taken into account in determining the earnings based on the premium and are subject to income tax, while in-kind aids are not taken into account in the earnings based on the premium. However, with the Law on the Restructuring of Certain Receivables and Amendments to Certain Laws, which entered into force by being published in the Official Gazette dated March 12, 2023, in-kind aids made by employers to employees affected by the earthquake, themselves, their spouses, children or parents, in addition to payments such as current wages, premiums, bonuses between 6/2/2023 and 31/7/2023 (including these dates), and cash aids whose total amount does not exceed 50,000 Turkish liras will not be included in the premium-based earnings and