President Recep Tayyip Erdoğan has approved a law amending the Income Tax Law as well as other related laws.
The amendment to the Income Tax Law includes a regulation about granting new rights to childbearing employees and civil servants.
According to the details published in the official gazette, the alleviation of the burden on retired people via cuts to premiums collected, reforms in insurance procedures as well as decreases in the tax burden of young entrepreneurs - rather than implementing the standard taxation - are said to be important to curb income inequality in the country as part of larger microeconomic reforms. Moreover, these tax exemptions will be put into effect in order to make it easier for young entrepreneurs to establish businesses.
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