With the law proposal dated 08.07.2019 submitted to the Turkish Grand National Assembly by the AKP Group Presidency, 4 significant changes were made in the foreign borrowing system made within the scope of the Law no 3201. The amendment will be published in the official newspaper through the parliament and will take effect from 1 August.
*For example; Expatriates paying 3,600 days and 98,000 TL could receive a salary of approximately 2 thousand 4 liras. With the last change expats will pay 400x38.31 = 206.874 TL and get approximately 1,400 liras salary. Payments were doubled and salary was halved.
Borrowing rates were raised to 45 percent instead of 32 percent, and Social insurance Institution (SSK)'s pension was converted to Bağ-Kur monthly. Also longer periods abroad starting from Turkey starting time will not be counted. With the new regulation that came into force, the old 4-a SSK pension will be paid less than 4-b instead of paying more money.
Expats who paid 100 thousand liras and received 2,400 liras pension, now will pay 200 thousand liras and will receive 1,400 liras salary.
Currently, the lowest (minimum) TL 27.25 borrowing from the lowest paid 38.31 TL, the highest (ceiling) 7.5 times per day 204.37 TL to 287.37 TL borrowing was increased. Thus, the premiums will be paid 40.6 percent more and the number of base days has been increased from 3,600 to 5,400 and the retirement period has been doubled.
Overseas exit fee and phone IMEI hike will also affect the expatriate
Two exorbitant hikes, most of them expatriates, came into force. Again, the law brought to the Parliament by law and entered into force abroad fees to be removed from 15 liras to 50 liras and again brought to use in our country, the taxes paid for use in our country 170 liars last year, this year has caused the reaction to increase to 1,500 liras.