Announcement 15510 – (EYT) Cancellation of Incentive and Regulation on Short-Term Insurance Branches

Dear Business Partner, We have an announcement for you regarding Payroll and Legal Procedures.

With the Law No. 7524, titled “Law on Amendments to Tax Laws and Certain Other Laws and to Decree Law No. 375,” published in the Official Gazette dated 02.08.2024, several changes have been made concerning payroll and legal processes.

As a result of these changes:

Effective as of September 1, 2024:

• The 5-point incentive granted under Law No. 15510 has been repealed. This incentive was provided to those who retired under the EYT (Early Retirement) scheme and began working at their last private sector employer within 30 days following their termination date under social security support contribution. Accordingly, benefit from this incentive will continue for July and August periods, but the 15510 Law code will no longer be selectable in the September period declarations.
• Another amendment is that the Short-Term Insurance Branches Premium Rate has been increased from 2.00% to 2.25%. As a result, the total premium rate for All Insurance Branches has changed to 37.75%, and for those subject to Social Security Support Contribution, it has changed to 32.25%.
• Finally, effective as of July 1, 2024, the minimum pension amount specified in the first paragraph of Article 19 of the Supplementary Provisions of Law No. 5510 has been increased from 10,000.00 TL to 12,500.00 TL.

Kind regards,

Download the PDF File >