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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

Kaynak/Source: invest.gov.tr

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