Force Major on Tax and Social Security Premium
Force Major declared by government on Tax and Social Security declaration and payment dates. With this declaration March/April/May 2020 VAT and withholding tax obligations postponed for all individual taxpayers (commercial,agricultural,self employment income) and corporate tax payers in specific sectors.( automotive, shopping malls, restaurants, hotels, cinema, transportation and logistic companies ,tourism agents, textures etc.) For Social Security Premium only payments dates postponed. With this perspective March, April and May 2020 VAT and withholding tax declaration of related taxpayers postponed to date of 27 July 2020. March 2020 VAT and Withholding Tax Payments postponed to 27/10/2020 April 2020 VAT and Withholding Tax Payments postponed to 27/11/2020 May 2020 VAT and Withholding Tax Payments postponed to 28/12/2020 for related tax payers that defined in 518 No Tax Procedural Law General Communique. March 2020 Social Security Premium payments postponed to 02/11/2020, April 2020 Social Security Premium payments postponed to 30/11/2020, May 2020 Social Security Premium payments postponed to 31/12/2020 for related tax payers that defined in 518 No Tax Procedural Law General Communique. Patients with chronic illness and the people above 65 all tax and social security Premium payments postponed after to 15th day from end of lockdown. If you need detailed information please contact with HLB Saygin.
Short time working compensation
Companies/ Individual Tax payers that have partially or wholly interrupted their activities are given the right to apply for a short-time working compensation for their employees salaries in Covid 19 pandemic period. Short time working compensation will be paid by Social Security Administration Unemployment Fund directly to employees.
Ban of cancellation of labour contract and non-paid leave compensation
Pursuant to Law No 7244 cancellation of labour contract by employer is banned for 3 months from 17.04.2020 except ethical clauses. Employers have right to give non-paid leave to employees without employees approval. In this time non-paid leave compensation will be paid by Social Security Administration Unemployment Fund directly to employees as 39 TL daily.
Postponing Loan Installments (Public Bank)
Public Banks of Turkey (Ziraat Bank, Vakıfbank, Halkbank) postponed Loan Installments of Debtors that made applications during the COVID-19 pandemic period.
Judicial System Measures
Trials, negotiations and discoveries were postponed until June 15, 2020, with the exception of detainees and urgent jobs, jobs that were close to the trial timeout and other jobs and procedures that would be considered urgent. Postponement of the delay regarding the lawsuit, enforcement, complaint, objection and notification periods extended until June 15.
New Credit Package
The Government announced a new credit package to support companies with lower interest rate and long term. the total credit package is defined to be for 50 billion TL initially.
House Credit Down Payment Rate reduced from 20% to 10%
Within the scope of the coronavirus support package, the amount of creditable in houses under 500 thousand Liras was reduced from 80 percent to 90 percent, and the housing loan down payment to 10 percent
VAT Rate Regulation in Domestic Flights
Within the scope of the coronavirus support package, VAT rate of Domestic Flights reduced drop 18% to 1% for 3 months. Central Bank of the Republic of Turkey took steps on monetary expansion. 1000 TL of aid has started to be provided to families in need by Social Services MinistryClick here to learn more.
