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Cost of Doing Business in Turkey

Cost of Doing Business in Turkey

Cost of Doing Business in Turkey
Minimum Monthly Wage (gross and net)
USD
Net Minimum Wage 448.62
Gross Minimum Wage 567.93
·         Social security premium payment (14%) 79.51
·         Payment for the unemployment insurance fund (1%) 5.68
·         Income tax (15%)* 29.81
·         Minimum living allowance** 42.60
·         Stamp tax (0.759%) 4.31
Total Deduction 119.31
Cost for Employer
·         Gross minimum wage 567.93
·         Employer’s share of the social security premium (15.5%)*** 88.03
·         Employer’s unemployment insurance fund payment (2%) 11.36
Total Cost for Employer**** 667.32
* Calculation of income tax: [(567.93 – 79.51 – 5.68) x 0.15] – 42.6

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

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

**** USD 1.15/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, 2016 – December 31, 2016

USD 1 = TRY 2.90 as of December 2015

Cost of Electricity 
Active Energy
Day Night
USD/kWh USD/kWh
Double-Term Tariff
Industry mid-voltage 0.07 0.031
Direct connection to the local power grid with a private line (industry) 0.07 0.031
Single-Term Tariff
Industry mid-voltage 0.07 0.031
Direct connection to the local power grid with a private line (industry) 0.07 0.031
Source: Turkish Electricity Distribution Company (TEDAS), January 2016

USD 1 = TRY 2.90 as of December 2015

 

Cost of Water for Industrial Use
Reference Price USD/m3
Type of Customer Water Waste Water Water VAT (%)
Industry 2.97 0.28 8
Reference Price USD/m3
Organized

Industrial Zones (OIZs)

Water Water VAT (%) Waste Water Waste

Water VAT (%)

Osmaniye OIZ 0.31 8
Eskisehir OIZ 0.16 8 0.16 8
Source: Istanbul Water and Sewerage Administration (ISKI)

Osmaniye OIZ and Eskisehir OIZ

USD 1 = TRY 2.90 as of December 2015

 

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 0.027 0.293
OIZ 0.025 0.270
More than 300,001 Sm³Prices 0.025 0.268
Source: Petroleum Pipeline Corporation (BOTAS), January 2016

* Excluding SCT and VAT

USD 1 = TRY 2.90 as of December 2015

 

Cost of Broadband Services 
ADSL (USD/month)
Download Speed (Mbps) – unlimited tariffs Rates
Up to 8 45.70
Up to 16 64.80
Fibernet and Hypernet (USD/month)
Download Speed (Mbps) – unlimited tariffs Rates
Up to 24 80.48
Up to 35 99.56
Up to 50 129.94
Up to 100 187.84
Metro Ethernet and G.SHDSL Requirement specific
All taxes included.

Source: TTNET

USD 1 = TRY 2.90 as of December 2015

 

Get in touch

contacts
+90 (212) 803 1664
+90 537 502 0087
[email protected]
Koza Mah, 1655. Sk,
Akbatı Residence,
34538 Esenyurt/İstanbul
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