Insights

Kindly find attached Minister of Labor Memo number 12/1 dated 27 May 2022 explaining Decree number 9129 dated 12 May 2022 and published in the Official Gazette on 19 May 2022.

Kindly find attached Decree number 9129 dated 12 May 2022 and published in the Official Gazette on 19 May 2022. The Decree sets the cost of living allowance for employees and workers subject to Labor Law.

Kindly find attached Minister of Finance Decision No. 82/1 dated 22 February 2022 which provides reductions on realization penalties until 31 March 2022.

This decision covers violations occurring between 1 August 2019 until the date of publication of this Decision in the Official Gazette (inclusive).

As per Article 5 of this Decision, proportional realization penalties are reduced by 85% while lump-sum realization penalties are reduced by 60%.

As per the Minister of Finance Decision number 469-1 dated 23 July 2021, the deadline for submitting the annual corporate income tax declarations and the ultimate beneficiary owner declaration for years 2019 and 2020 is 7 August 2021 (inclusive) and deadline for the settlement of related taxes is 31 December 2021