The Cyprus Turkish Chamber of Commerce (KTTO) reacted to the taxation of the minimum wage.
In the KTTO statement, it was noted that after the increase in the minimum wage, there was no tax deduction from the minimum wage, since there was no regulation to make the minimum wage tax-free.
In the statement, it was pointed out that despite the statements of the Prime Minister and the relevant ministers that ‘no tax will be charged from the minimum wage’, the tax deduction was made from the minimum wage, and it was mentioned that the minimum wage should be exempted from tax in order to protect the purchasing power of the minimum wage in these days when economic conditions are getting worse.
In the statement, โThe minimum wage determined at the beginning of the year is exempt from tax with the personal exemption put into effect in January. However, the determination of the minimum wage for the second time in the year caused it to be included in the tax scope.
In order to protect the purchasing power of the minimum wage and to obtain a fair wage, the wages of the employees whose wage income is equal to the minimum wage should be exempted from tax with a decree having the force of law, it was said.
