Under the article 11 of the Law no. 7440 (OG: 12.03.2023), the earnings limit of TL 75.000 applicable to benefit from the exemption of young entrepreneurs’ earnings, was changed as “the amount specified in the second bracket of the tariff written in the Article 103 of ITL” (TL 150.000 for 2023 and TL 230.000 for 2024).
The amendment has been incorporated in the relevant parts of the Income Tax General Communiqué series no. 327 published in the Official Gazette dated 27 September 2024 and IT General Communiqué series no. 292, which sets forth the principles and procedures regarding the exemption of young entrepreneurs’ earnings.
Furthermore, a regulation has been made to ensure that the exemption of young entrepreneurs’ earnings can be benefited from by taxpayers who are subject to the simple procedure and whose commercial earnings are determined according to the actual procedure for any reason within the calendar year.
The Communiqué became effective on the date of its publication (27 September 2024)
Our explanations provided above include general information on the issue. No responsibility can be claimed against EY and/or Kuzey YMM ve Bağımsız Denetim A.Ş. due to the implications arising from the context of this document or emerging with respect to its context.
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