Cost Of Doing Business In Turkey

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Minimum Monthly Wage (gross and net)
  USD
Net Minimum Wage 398.88
Gross Minimum Wage 504.97
  • Social security premium payment (14%)
70.70
  • Payment for the unemployment insurance fund (1%)
5.05
  • Income tax (15%)*
26.51
  • Minimum living allowance**
37.87
  • Stamp tax (0.759%)
3.83
Total Deduction 106.09
Cost for Employer
  • Gross minimum wage
504.97
  • Employer’s share of the social security premium (15.5%)***
78.27
  • Employer’s payment for the unemployment insurance fund (2%)
10.10
Total Cost for Employer**** 593.34
* Calculation of income tax is [(504.97 – 70.70 – 5.05) x 0.15] – 37.87

** For single individuals without children and may vary according to marital status and the number of children.

*** As regards premiums that are paid in due time, as an incentive, a five-point reduction is applied (down from 20.5% to 15.5%).

**** USD 0.95/day of the total cost for the employer will be covered by the Undersecretariat of the Treasury according to the eligibility conditions.

Source: Ministry of Labor and Social Security

Valid for January 1, 2017 – December 31, 2017

USD 1 = TRY 3.52 as of December 2016

 

Cost of Electricity*
Captive Customers Eligible Customers
  USD/kWh USD/kWh
Industry mid-voltage (Double-Term Tariff) 0.072 0.060
Industry mid-voltage (Single-Term Tariff) 0.074 0.062
Source: Energy Market Regulatory Authority (EMRA), January 2017

* Excluding VAT

 USD 1 = TRY 3.52 as of December 2016

 

Cost of Water for Industrial Use
Reference Price USD/m3
Type of Customer Water Waste Water Water VAT (%)
Industry 2.88 included 8
Reference Price USD/m3
Organized

Industrial Zones (OIZs)

Water Water VAT (%) Waste Water Waste

Water VAT (%)

Eskişehir OIZ 0.18 8 0.18 8
Mersin OIZ (with joint treatment plant) 0.85 8
Source: Istanbul Water and Sewerage Administration (ISKI)

Eskişehir Water and Sewerage Administration & Mersin Water and Sewerage Administration

USD 1 = TRY 3.52 as of December 2016

 

Cost of Natural Gas*
Gas Sales Tariff for Customers that have a Signed Gas Sales Agreement with BOTAS
USD/kWh USD/Sm³
Less than 300,000 Sm³ 0.020 0.216
OIZ 0.018 0.199
More than 300,001 Sm³ 0.018 0.200
Source: Petroleum Pipeline Corporation (BOTAS), January 2017

* Excluding SCT and VAT

USD 1 = TRY 3.52 as of December 2016

 

Cost of Broadband Services
Fibernet and Hypernet (USD/month)
Download Speed (Mbps) – unlimited tariffs Rates
Up to 24 71.30
Up to 35 87.20
Up to 50 113.90
Up to 100 162.20
Up to 1000 316.75
Metro Ethernet and G.SHDSL Requirement specific
All taxes included.

Source: TTNET

USD 1 = TRY 3.52 as of December 2016