Turkey – Financial Relief Measures Announced in Response to COVID-19 Pandemic.
In response to the COVID-19 pandemic, the President of Turkey has announced the following financial relief measures:
- The period for offering compensatory work in lieu of forced unpaid leave has been extended from 2 months to 4 months. The compensatory time will not be considered overtime.
- Withholding tax declaration due date has been extended by 3 months.
- April, May and June’s withholding, VAT and social security payments will be postponed for 6 months for retail sector, shopping centers, iron-steel sector, automotive, logistics, cinema-theater, accommodation, food, textile, events-organizations sectors.
- Flexible and remote working options by labor law will be guaranteed.
- Minimum wage support will remain unchanged.
- The processes for short-employment option will be expedited.
- The deadline for 2019 Annual Income Tax Declarations and the first installment of respective tax payment which is on 31 March 2020 has been postponed to 30 April 2020.
Download PDF: Financial Relief Measures in Turkey