07.12.2024 10:11
The Savings Deposit Insurance Fund has increased the insured deposit and participation fund amount from 650,000 Turkish lira to 950,000 Turkish lira. The new regulation will come into effect starting from 2025.
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The decision of the Savings Deposit Insurance Fund (SDIF) board was published in the Official Gazette. The amount of deposits and participation funds subject to insurance, which was 650 thousand lira, has been increased to 950 thousand lira.
With the decision published in the Official Gazette, the Savings Deposit Insurance Fund (SDIF) has raised the amount of deposits and participation funds subject to insurance from 650 thousand lira to 950 thousand lira, effective from 2025.
THE REVALUATION RATE FOR 2024 HAS BEEN DETERMINED AS 43.93%
With the General Communiqué of the Tax Procedure Law numbered 574 published in the Official Gazette dated 27.11.2024, the revaluation rate for the year 2024 has been determined as 43.93 (forty-three point ninety-three).
Some of the issues affected by the revaluation rate are as follows:
- Income tax brackets,
- Meal allowance exemption,
- Travel allowance exemption,
- Rental income exemption,
- Value paper fees,
- Motor vehicle tax amounts,
- Environmental cleaning tax amounts,
- Exit fee for abroad,
- Amount that can be deducted for leased passenger vehicles,
- The total amount of VAT and SCT related to the acquisition of passenger cars that can be considered as an expense,
- Various limits and amounts such as invoice usage obligation, irregularities, and special irregularity penalties regulated in the Tax Procedure Law,
- Fixed stamp taxes and the upper limit related to stamp tax,
- Fee amounts (Passport, title deed transactions, phone usage permit fee for passengers, etc.),
- Minimum refund amounts applicable for annual VAT refunds,
- In accordance with Article 32/A of the Corporate Tax Law, the contribution amount for the remaining investment, except for the portion benefited through reduced corporate tax, provided that the investment is completed, will be increased in the following years after the accounting period in which the investment is completed, based on the revaluation rate determined for those years,
- For investment incentive certificates issued based on applications made before 24.04.2003, in investments initiated within the framework of the repealed Annex: 1-6 of the Income Tax Law, the investment deduction that could not be applied in the relevant year due to insufficient earnings will be increased in the following years based on the revaluation rate.
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