back to blog

2024 Tax Rates and Personal Deductions Published on . Posted in .

2024 Yılı Gelir Vergisi Matrah Dilimleri ve Kişisel İndirim Miktarı

Important information regarding tax rates and exemptions to be applied in the Turkish Republic of Northern Cyprus for the year 2024 is provided below:

Personal Allowance: For the 2024 tax year, the personal allowance amount has been set at 320,000 Turkish Liras by the decision of the Council of Ministers.

Income Tax Brackets: The income tax brackets and rates for the fiscal year 2024 have been organized as follows:

Income Bracket (TL)Total Income (TL)Tax RateTax on This Bracket (TL)Total Tax (TL)
0 - 30,00030,00010%3,0003,000
30,001 - 60,00060,00020%6,0009,000
60,001 - 136,000136,00025%19,00028,000
136,001 - 236,500236,50030%30,15058,150
Over 236,500-37%--
Download PDF